Decentralized Application DeFi revolves around applications known as DApps that perform financial functions on digital ledgers called blockchains, a technology that was invented for Bitcoin but has since caught on more broadly.
Do you think this DeFi works?
Rather than transactions being with and through a centralised intermediary such as a cryptocurrency exchange, transactions are directly between participants, mediated by smart contract programs.
Many of these DApps could connect and work together to create complex financial services. For example, stablecoin holders could commit assets to a liquidity pool. Check disclaimer on my profile.