Decentralized Finance (DeFi) Crypto Narrative

Decentralized Finance (DeFi) refers to a category of blockchain-based financial services and applications designed to operate without centralized intermediaries like banks. Key features include smart contracts, decentralized exchanges, and lending platforms that enable peer-to-peer transactions, increased transparency, and enhanced accessibility. Unique aspects of DeFi include its ability to provide financial services to underserved populations and its potential for creating innovative financial products through composability.