DeFi Deep Dive
The DeFi landscape · 1/2

Banking without banks

DeFi replaces financial middlemen with smart contracts. Trading, lending, borrowing, and earning yield all happen through open protocols that anyone with a wallet can use, no account approval required.

The core categories: DEXs for trading, lending markets for credit, stablecoins for stable value, derivatives for leverage, and yield aggregators that combine them all.