Defi (decentralized finance) is a financial system built on blockchain technology that operates outside of

traditional centralized intermediaries (such as banks and government institutions). To learn about Defi,
here are some key concepts to consider:

Smart Contracts: Defi applications are built on blockchain platforms like Ethereum, using smart contract
technology to automate financial transactions and enforce rules.

Decentralized Exchanges (DEXs): Defi offers decentralized exchanges, which are peer-to-peer trading
platforms that allow users to trade cryptocurrencies without a centralized intermediary.

Stablecoins: Defi utilizes stablecoins, which are cryptocurrencies designed to maintain a stable value and
minimize price volatility.

Yield farming and liquidity provision: Yield farming and liquidity provision are two popular Defi use cases
that allow users to earn passive income by providing liquidity to decentralized exchanges or lending and
borrowing platforms.

DeFi Protocols and DAOs: Defi protocols are the building blocks of the decentralized finance ecosystem,
and Decentralized Autonomous Organizations (DAOs) are decentralized organizations that operate
based on code and community consensus.

It is recommended to thoroughly research and understand these concepts and the risks involved before
participating in Defi activities.