defi

Decentralized Finance (DeFi) refers to a financial system built on blockchain technology that aims to democratize access to financial services and eliminate the need for traditional intermediaries, such as banks and financial institutions. DeFi platforms use smart contracts, which are self-executing contracts with the terms of the agreement directly written into code, to facilitate various financial transactions, including lending, borrowing, trading, and investing. By leveraging blockchain technology, DeFi applications offer users greater transparency, security, and control over their assets, as well as the ability to participate in financial activities without relying on centralized authorities.