DEFI (decentralized finance) is a financial system built on top of blockchain technology that uses smart contracts to enable people to access financial services without the need for traditional intermediaries. DEFI applications are designed to be open and accessible to anyone with an internet connection, allowing users to access financial services such as lending, borrowing, investing, insurance, and more. DEFI has the potential to revolutionize traditional finance by providing a more open, transparent, and secure financial system.