Decentralized financial services, or decentralized finance (eng. Decentralized Finance, DeFi) is the general name for analogues of traditional financial instruments implemented in a decentralized architecture[1]. These services are public, open source, and most often based on smart contracts. Decentralized financial services include non-custodial protocols for lending against cryptoassets, decentralized exchanges (DEX), prediction markets, and protocols for issuing synthetic assets and deriva...
