DeFi refers to financial services provided by DAO (Decentralized Autonomous Organizations) avoiding intermediaries through smart contracts.

DeFi is a concept that he created in 2019, to name those open source financial initiatives or projects, with non-permissive architectures, which is governed and executed in a totally decentralized and public way.

If you want to know what DeFi is, we could define it as a set of financial services that use smart contracts to carry out transactions. These are executed in an automated way, without intermediaries such as banks or lawyers and they do so thanks to blockchain technology .