DeFi is short for Decentralized Finance, which refers to an ecosystem of protocols, platforms, applications, and tools that rebuild traditional financial products outside the traditional financial system. DeFi solutions are not provided by banks, but are built using open source software and uncensorable networks. Therefore, DeFi products are inherently transparent and open to anyone who can connect to the Internet. DeFi products enable people around the world to participate in financial activities (such as consumption, borrowing, lending, gambling, and trading) in a peer-to-peer manner without relying on intermediaries such as banks and governments.
