Decentralized Finance (DeFi)  is growing exponentially and it is powered by its native Defi Token. The token is an important aspect of the defi protocols with various purposes and usages.

Security Tokens:
Users purchasing security tokens are investing their money in the ICO with the expectation of profit. They act as traditional securities.

Equity Tokens:
If a token is linked to stock or equity in a company that issues it, it’s an equity token.

Utility Tokens:
These tokens provide people with access to either a product or service.

Payment Tokens:
They are simply used as a means to pay for goods.

Governance Tokens
Governance tokens offer the holders the power to influence (or) make decisions related to any aspect of the corresponding organization (mostly DeFi platforms).

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