DeFi is a decentralized financial system based on smart contracts that function without intermediaries, such as banks or insurances. DeFi applications strive to fulfill the services of traditional finance in a frictionless, global and transparent manner built on the blockchain.
Casten is a DeFi lending protocol where real-world businesses can borrow efficient and risk-priced capital, enabling investors to earn differentiated yields across an array of trade finance and loan products.
Currently, top lending protocols in DeFi like Compound, Aave, etc need borrowers to be overcollateralized in order be able to create a borrowing position. However, Casten is uncollateralised protocol, where various participants are incentivised to secure the protocol and its funds by staking/auditing/originating etc.