Decentralized Finance or DeFi is an open finance movement that aims to create a global and open financial service accessible by everyone in the world with smartphones and internet connection.
Imagine that you can do savings, loans, trading, insurance, and more without any intermediaries and rely only on codes and smart contracts. DeFi is a kind of decentralized applications (Dapps) built on blockchain networks to create applications with a high level of security and transparency with little to no human intervention.
DeFi protocols often come with governance tokens which allow holders to vote on the direction and changes of the protocol.
There are multiple types of DeFi platforms. Here are some of the DeFi protocols along with their popular platforms:
Lending Platforms such as Aave, Maker, Compound, etc.
Decentralized Exchanges (DEXs) such as Curve Finance, Uniswap, Balancer, etc.
DeFi assets creators such as WBTC, RENvm, yearn.finance, etc.