Smart Contract-Based MLM Smart Contract-Based MLM’s are Decentralized MLM Networks that are governed or managed by any blockchain smart contract, but mostly the Ethereum blockchain. Since Ethereum is open source it gives open access for developers to leverage its smart contract technology and customize it for developing custom dApps. The entire MLM process will be tied up with the one single knot, i.e A smart contract. Decentralized Finance (DeFi) is the merger of traditional bank services with decentralized technologies such as blockchain. DeFi can also go under the name Open Finance due to its inclusive format. Importantly, the DeFi community seeks to create alternatives to every financial service currently available. These services include items such as savings and checking accounts, loans, asset trading, insurance, and much more.