Decentralized finance, or "DeFi", refers to a new financial system that is built on top of blockchain technology. It is a way of providing financial services and products, such as loans, insurance, and investment opportunities, without the need for traditional intermediaries, such as banks and financial institutions. DeFi allows users to access these services directly, using smart contracts and other blockchain-based technologies. This allows for faster, cheaper, and more secure transactions, and it also enables new types of financial products and services that were not previously possible. DeFi has the potential to revolutionize the way that finance works, and it is attracting a growing number of users and investors who are attracted by its potential for high returns and its independence from traditional financial institutions.