DeFi
Decentralized finance: financial applications that use blockchain protocols and smart contracts.
In more detail
DeFi covers activities such as swapping, lending and supplying liquidity through onchain systems. You can often inspect transactions and interact without a traditional brokerage account, but each app has its own dependencies. Contract code, administrators, price oracles and the assets involved all shape what you're trusting when you click a familiar-looking financial button.
How you might use it
You connect a wallet to a lending app, then check its collateral rules and contract permissions before making a deposit.
- Written out
- Decentralized finance
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