DeFi (Decentralized Finance)

DeFi refers to financial services — lending, borrowing, trading, and earning interest — built on blockchain networks and run by code (smart contracts) rather than banks or brokerages. Because the rules are enforced by open-source software instead of a company, anyone with a compatible wallet can generally access DeFi services directly, without an account application or approval. This removes traditional intermediaries and can offer more transparency, but it also means users bear more direct responsibility: there is no customer support line to reverse a mistaken transaction or a smart-contract exploit.