What is DeFi?

DeFi, short for decentralized finance, refers to a category of financial applications and platforms that are built on blockchain technology. These platforms aim to provide traditional financial services, such as lending, borrowing, trading, and investing, without the need for intermediaries like banks or financial institutions. DeFi platforms typically use smart contracts to automate and execute transactions, allowing users to interact directly with each other in a peer-to-peer manner. DeFi has gained popularity in recent years for its potential to democratize access to financial services and create more inclusive and transparent financial systems.

What is DeFi