What is defi

"DeFi" (short for "decentralized finance") is a term used to describe a range of financial applications that are built on top of blockchain and cryptocurrency technologies. These applications aim to provide financial services that are more open, transparent, and accessible to a wider range of people, particularly those who are underserved by traditional financial institutions. Some common examples of DeFi applications include decentralized exchanges (DEXs), lending platforms, stablecoins, and prediction markets. DeFi applications are often built on top of smart contract platforms such as Ethereum, which enables them to be trustless and automated.