What is Defi?

DeFi is short for Decentralized Finance, is a term that refers to financial applications (aka. DApps) deployed on a public blockchain. These applications facilitate the exchange, swapping, borrowing, and lending of crypto tokens.

The broader objectives of the DeFi industry is to:

create a financial system that isn't dependent on rent seeking intermediaries
democratize access to basic financial services for underbanked communities around the globe

The industry is built on top of a stack interconnected protocols. Similar to lego bricks, different DeFi applications can be intertwined to generate more complex financial products. Creating an environment of fast innovation and network effects.