Ethereum Request for Comment (ERC) is a document that sets guidelines and rules for developers to follow when implementing new features.

ERCs are used to formally describe new standards and suggestions for the Ethereum platform.

In the context of DeFi, ERCs is used to propose and develop new standards for decentralized financial applications on the Ethereum blockchain.

For example, ERC-20 is a widely used standard for creating fungible tokens on the Ethereum blockchain, and ERC-721 is a standard for creating non-fungible tokens (NFTs).

Overall, ERC plays a crucial role in the development of the DeFi ecosystem by providing a framework for proposing and implementing new standards and improvements to the Ethereum blockchain.

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