DeFi definition
Definition
Decentralized Finance, financial services without traditional intermediaries
DeFis TVL peaked at $180B in 2021; protocols like Aave enable lending/borrowing globally, fostering composability via "money Legos." DeFi Ecosystem (2025): Total Value Locked: $120 billion. Active Protocols: 3,000+. Daily Volume: $5-10 billion. Major Categories: Lending (Aave, Compound), DEXs (Uniswap, Curve), Derivatives (dYdX, GMX), Yield Aggregators (Yearn, Convex), Insurance (Nexus Mutual).
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