Byepix

While the concept is new, do not worry. With the principles in place, it is relatively simple to understand. MetaFi is metadata and decentralized finance (also known as DeFi). Metadata sounds complicated, but it is all around us whether you notice it or not. While various articles define it as data about data, this does not mean much to the person that is not adept at data science. So, a better definition is this:A piece of information that provides context to something we wish to understand.For example, a library would hold a vast amount of metadata. Whenever you look for a book, you would use the genres of each row to determine the type of book – metadata. Furthermore, if you wanted a specific author of that genre, you would look at the alphabetical last name about that author of that genre – metadata. Not too complicated, right?Then we have decentralized finance, otherwise known as DeFi. As you most likely know, DeFi is the distribution of financial ledgers to anyone in the world that has a computer and internet connection, making it open, transparent, and amendable. As a result, this eliminates the need for a central authority – for example, a bank or corporation that regulates your financial assets.When we put the two together – Metadata and DeFi – we get MetaFi. <a href="https://www.bnbchain.world/en/blog/metafi-when-defi-meets-meta/" rel="noopener noreferrer nofollow">According to Binance</a>, MetaFi is “a concept that provides advanced and sophisticated DeFi Infra to all the different types of projects such as metaverse, GameFi, SocialFi, Web3, and NFTs and puts them under one umbrella – MetaFi.”Alright! We have a simple understanding of MetaFi, as well as DeFi. Now, we can navigate to what Byepix is. Let us begin!

What is MetaFi?

Byepix Official

Other articles published on Jul 12, 2022

Weekly Report (4-10 Jul 2022): Open interest increased $868 million amid negative funding rates

Buy Firo with USD, EUR or GBP from 7b!

Lessons from The Bear

The DeFi apocalypse of ‘22

Meet Prom: Steam for Web3

EARN AS YOU BUY WITH ICO STAKING NEW AND UNIQUE

Join our free newsletter for daily crypto updates!