Decentralised Finance (Defi)

Decentralized Finance (DeFi) refers to the suite of financial services built on blockchain technology that operate without the need for intermediaries like banks or traditional financial institutions. DeFi applications include lending, borrowing, trading, and yield farming, providing users with direct access to financial products in a decentralized, transparent, and secure environment. These services are accessible to anyone with an internet connection, by passing the barriers of traditional finance.

One of the key benefits of DeFi is its openness and accessibility. DeFi protocols are often open-source, allowing anyone to audit or contribute to their development, and they offer financial services toa global audience without the need for credit checks or geographic restrictions. Additionally, DeFi applications use smart contracts to automate transactions, reducing operational costs and eliminating the need for intermediaries.