Decentralized Finance or DeFi is an open, global financial system developed to offer investors a platform where they can trade without third-party interference. DeFi primarily aim is to eliminate trust issues, offer better security, and take no taxes on exchanges. Unlike centralized finances, DeFi allows easy and safe transactions. As the market is always open. So, you can earn interest, borrow, lend, buy insurance assets, and many more.
DeFi closely works on blockchain applications around a list of financial services, including trading, lending, borrowing, and derivatives. DeFi offers a peer-to-peer system (in between two individuals with no centralized authority) allowing you to contract your blockchain finances accordingly.