Decentralized Finance (DeFi) services refer to a rapidly growing ecosystem of financial applications built on top of blockchain technology. These services operate without the need for intermediaries, such as banks or other financial institutions, enabling users to engage in financial activities in a peer-to-peer manner.

DeFi services offer a wide range of financial instruments, including lending, borrowing, trading, and insurance. These services are accessible to anyone with an internet connection and a cryptocurrency wallet. DeFi applications use smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.

DeFi services provide a high degree of transparency, security, and privacy, and offer users more control over their assets. These services are also permissionless, meaning that users can participate in DeFi activities without requiring permission from any centralized authority.

DeFi has the potential to revolutionize the traditional financial system, making it more accessible, efficient, and inclusive. However, as with any emerging technology, there are risks involved, and users should conduct thorough research before engaging with DeFi services.