What is DeFi?

DeFi stands for Decentralized Finance, referring to a movement that utilizes blockchain, cryptocurrencies, and smart contracts to create financial services and applications that operate without traditional intermediaries like banks or brokerages. It aims to provide more open, accessible, and transparent financial services to anyone with an internet connection. DeFi platforms enable activities such as lending, borrowing, trading, and earning interest, often with higher degrees of transparency, accessibility, and programmability compared to traditional financial systems.