💸 What is Decentralized Finance (DeFi)? DeFi refers to a set of financial services built on blockchain technology that operates without traditional intermediaries like banks, brokers, or exchanges. Instead, DeFi relies on smart contracts deployed mainly on blockchains like Ethereum to automate financial transactions. 🔑 Key Principles of DeFi Principle Explanation Decentralization No central authority controls the services; governance is distributed. Permissionless Anyone with internet access can use DeFi apps without approval. Transparency All transactions and smart contract codes are public and auditable. Interoperability DeFi protocols can integrate and build upon each other (“composability”). Self-custody Users retain control of their funds via private keys; no third parties. 🛠️ Common DeFi Components Component Description Decentralized Exchanges (DEXs) Platforms like Uniswap or Sushiswap for peer-to-peer token trading without intermediaries. Lending & Borrowing Pro...