What are Talers in DeFi?

Talers are a type of token or currency that is used in the context of blockchain-based decentralized finance (DeFi) platforms. They are typically issued by a decentralized autonomous organization (DAO) and are designed to represent a unit of value that can be used to pay for goods and services within the DeFi ecosystem.

The name "taler" comes from the Latin word "taliare," which means "to cut," and is derived from the idea that these tokens are "cut" or created through a process of minting, similar to how physical coins are minted. Talers are often used as a form of payment for fees associated with using DeFi platforms, such as gas fees for executing smart contracts. They can also be used as collateral for taking out loans or for participating in other financial instruments within the DeFi ecosystem.

Talers are typically built on top of blockchain technology and are designed to be decentralized, meaning that there is no central authority controlling their supply or distribution. This allows for a more democratic and transparent way of conducting financial transactions, as compared to traditional centralized financial systems.