# WHAT ARE DEFI PROJECTS By [Adebayo ](https://paragraph.com/@adebayo) ยท 2024-01-11 --- Defi projects, short for decentralized finance projects, are blockchain-based platforms that aim to provide financial services without relying on traditional intermediaries like banks. They enable users to lend, borrow, trade, and invest in cryptocurrencies in a decentralized manner. It's an exciting and rapidly growing space in the crypto world! ๐Ÿ˜„๐Ÿš€ --- *Originally published on [Adebayo ](https://paragraph.com/@adebayo/what-are-defi-projects)*