#DeFiGetsGraded DeFi (or "decentralized finance") is a general term used to describe financial services present on public blockchains, especially Ethereum. With DeFi, you can choose most of the services offered by banks: earn interest, take out a loan, lend money, buy insurance, trade contracts and assets, and much more. However, this method is faster, does not require paperwork, and does not need a third party. Like cryptocurrencies in general, DeFi is global, peer-to-peer (i.e., between two people, without relying on a centralized system), uses synonyms, and is open to all people.