$BTC Decentralized Finance (DeFi) provides lending, trading, and wealth management services through blockchain without the need for bank intervention. The 'Summer of DeFi' in 2020 saw projects like AAVE and Uniswap have their TVL (Total Value Locked) surpass $100 billion at one point. The advantages of DeFi lie in its transparency and openness, but vulnerabilities in smart contracts (such as the Poly Network hack) and regulatory risks cannot be ignored. Despite the current market downturn, the innovation of DeFi may reshape the traditional financial system, especially in the areas of cross-border payments and inclusive finance