what does defi stand for?

DeFi stands for "Decentralized Finance." It is an umbrella term for peer-to- peer financial services that operate on public blockchains, primarily Ethereum, without relying on traditional intermediaries like banks or brokers. DeFi enables activities like lending, borrowing, trading, and earning interest through smart contracts and decentralized applications (dApps) that function autonomously and transparently on the blockchain.