#explain-card [[Decentralized finance|Decentralized Finance]] ([[DeFI|DeFi]]) is a movement to build financial applications that operate without central authorities, using blockchain technology. DeFi applications are open-source, permissionless, and censorship-resistant, covering use cases like [[Stablecoin|stablecoins]], lending and borrowing, and decentralized exchanges ([[DEX|DEXs]]). By eliminating intermediaries, DeFi aims to provide better returns for users and lower barriers to entry, allowing anyone to participate without discrimination.