# Smart Contract

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**Publisher:** Decentralized Finance Publication

## Definition

Self-executing code stored on a blockchain that automatically carries out the terms of an agreement when predefined conditions are met. Smart contracts are the foundation of DeFi — they automate lending, trading, yield generation, and governance without human intermediaries. Once deployed, smart contract code cannot be altered (unless the contract has explicit upgrade mechanisms).

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Canonical: https://decentralized-finance.io/glossary/smart-contract/