Decrypt logoDecrypt logo
Decrypt logoDecrypt logo

What Is Decentralized Finance (DeFi)?



Coin Prices

BTC

$68,174.00

1.16%

ETH

$1,981.71

1.27%

XRP

$1.44

0.83%

BNB

$624.64

1.11%

USDC

$0.999909

-0.01%

SOL

$85.97

2.25%

TRX

$0.287464

0.54%

DOGE

$0.099652

-1.73%

FIGR_HELOC

$1.036

0.67%

BCH

$566.26

1.34%

WBT

$50.86

0.86%

ADA

$0.28024

-3.48%

USDS

$0.999987

-0.00%

LEO

$8.47

-2.66%

HYPE

$29.76

-0.60%

LINK

$8.88

-0.03%

USDE

$0.998696

-0.01%

CC

$0.160631

0.89%

XMR

$326.06

-2.50%

XLM

$0.161967

-0.84%

USD1

$0.999112

-0.06%

RAIN

$0.00949504

-0.34%

HBAR

$0.100169

-0.10%

ZEC

$258.77

-0.82%

LTC

$55.56

0.83%

PYUSD

$0.999861

-0.11%

AVAX

$9.21

0.69%

SHIB

$0.00000642

-0.34%

SUI

$0.946856

-2.02%

TON

$1.34

-2.33%

WLFI

$0.119522

2.58%

CRO

$0.07808

-1.15%

XAUT

$5,102.98

1.17%

PAXG

$5,136.07

1.31%

M

$1.34

-1.20%

UNI

$3.61

4.66%

DOT

$1.36

1.13%

MNT

$0.634899

1.71%

BUIDL

$1.00

0.00%

AAVE

$121.61

3.42%

ASTER

$0.721628

1.37%

PEPE

$0.00000419

-3.09%

USDF

$0.997163

0.03%

TAO

$181.36

-0.55%

OKB

$78.93

-0.51%

BGB

$2.33

-0.26%

USDG

$1.00

0.00%

USYC

$1.12

0.00%

PI

$0.172402

-1.47%

RLUSD

$0.999674

-0.00%

HTX

$0.0000017

-0.21%

SKY

$0.064133

1.52%

ETC

$9.24

7.29%

NEAR

$1.051

1.20%

BFUSD

$0.998992

0.00%

ONDO

$0.269373

-0.25%

ICP

$2.26

4.91%

PUMP

$0.00210618

-0.43%

USTB

$11.00

0.00%

POL

$0.111289

4.10%

ATOM

$2.34

-1.14%

GT

$7.25

1.59%

KCS

$8.53

1.99%

WLD

$0.388462

-0.92%

HASH

$0.0178681

-4.79%

NIGHT

$0.058078

-4.80%

QNT

$65.46

-2.23%

ENA

$0.108605

-2.99%

NEXO

$0.893108

2.29%

MORPHO

$1.62

5.37%

KAS

$0.0313601

0.23%

USDTB

$0.999329

-0.00%

TRUMP

$3.49

-1.64%

FLR

$0.00948524

0.77%

ALGO

$0.090052

-0.51%

EUTBL

$1.23

0.02%

RENDER

$1.48

-1.30%

USDD

$1.00

0.04%

FIL

$0.976027

2.91%

JAAA

$1.027

0.00%

USDY

$1.12

0.86%

OUSG

$114.37

0.02%

XDC

$0.03553512

1.59%

APT

$0.891892

1.75%

VET

$0.00776908

-1.98%

BDX

$0.080294

-0.09%

ARB

$0.099139

3.17%

JTRSY

$1.095

0.00%

USD0

$0.994964

-0.35%

BONK

$0.00000633

-0.27%

GHO

$0.999566

0.01%

STABLE

$0.02911502

-2.83%

JUP

$0.157572

-0.55%

A7A5

$0.01277881

-0.76%

TUSD

$0.99918

-0.02%

PIPPIN

$0.487962

-1.08%

USDAI

$0.999794

-0.00%

SEI

$0.070873

-0.95%

FTN

$1.086

-0.22%

EURC

$1.18

-0.01%

STX

$0.25447

-0.42%

CAKE

$1.33

3.47%

PENGU

$0.00691845

0.11%

DASH

$34.43

2.63%

VIRTUAL

$0.647523

0.26%

DCR

$24.40

2.38%

XTZ

$0.389672

-0.18%

KITE

$0.225896

-18.59%

FDUSD

$0.999003

0.00%

INJ

$3.89

14.16%

KAU

$162.28

-0.09%

IP

$1.10

-0.65%

FET

$0.166866

-0.61%

JST

$0.04295819

-1.23%

LIT

$1.49

0.37%

CHZ

$0.03580351

-1.59%

CTM

$0.083838

1.22%

CRV

$0.241726

-2.87%

ETHFI

$0.465418

-1.72%

USX

$0.999629

-0.01%

ZRO

$1.68

5.59%

BTT

$0.00000034

-0.43%

NFT

$0.00000034

-2.02%

BSV

$16.49

2.94%

KAIA

$0.056124

-0.68%

PRIME

$1.02

0.02%

SUN

$0.01695646

-0.43%

GNO

$119.42

2.32%

PYTH

$0.054141

0.36%

ADI

$3.19

1.95%

AERO

$0.333515

5.35%

GRT

$0.02810408

3.75%

SPX

$0.323463

-2.29%

IOTA

$0.069539

-2.18%

TIA

$0.33615

0.76%

H

$0.162155

-1.13%

FLOKI

$0.00003045

-1.48%

JASMY

$0.00587005

0.69%

CRVUSD

$0.995314

-0.07%

HNT

$1.53

6.18%

LDO

$0.331868

1.18%

CFX

$0.053259

2.52%

FRAX

$0.993709

0.17%

OP

$0.128524

-1.37%

OHM

$17.29

-0.42%

SYRUP

$0.231891

1.36%

BTSE

$1.62

1.34%

TEL

$0.0027439

-2.84%

ENS

$6.77

1.61%

2Z

$0.07284

-2.36%

ZK

$0.01990643

-1.28%

STRK

$0.04531631

-1.41%

AB

$0.0024552

-1.96%

NUSD

$0.999046

0.26%

MON

$0.02100237

-1.97%

SAND

$0.084912

0.19%

AXS

$1.33

2.63%

WIF

$0.223994

-0.38%

USTBL

$1.075

0.01%

YLDS

$0.999993

-0.00%

USDA

$0.988283

-0.11%

TWT

$0.523338

0.82%

AUSD

$0.99977

-0.01%

ULTIMA

$5,667.54

-1.08%

XPL

$0.098433

3.27%

ZBCN

$0.00216268

0.43%

BCAP

$22.86

0.00%

APEPE

$0.00000097

0.64%

PENDLE

$1.23

1.97%

THETA

$0.202451

2.89%

LUNC

$0.00003681

1.07%

MYX

$1.043

-6.70%

UDS

$1.59

4.95%

NEO

$2.77

0.78%

VSN

$0.053641

0.58%

MANA

$0.099583

1.40%

VVV

$4.36

-7.96%

XCN

$0.00511302

-0.12%

PC0000031

$1.00

0.00%

BORG

$0.192713

-0.14%

GALA

$0.00392725

0.88%

FF

$0.079774

0.09%

FARTCOIN

$0.184614

-1.27%

TIBBIR

$0.183394

21.28%

BAT

$0.12154

0.41%

CVX

$1.97

-0.76%

FDIT

$1.00

0.00%

WFI

$2.22

1.69%

COMP

$18.25

-0.21%

RAY

$0.653885

0.28%

IUSD

$0.999908

0.05%

GLM

$0.170111

-0.87%

BARD

$0.755044

-0.69%

REAL

$0.053964

1.43%

SIREN

$0.230545

6.74%

S

$0.04408811

1.29%

MX

$1.80

0.18%

SENT

$0.02278223

-2.01%

RIVER

$8.29

3.61%

FLUID

$2.10

-0.71%

KOGE

$47.99

0.00%

XEC

$0.00000799

1.01%

9BIT

$0.01940715

18.48%

SATUSD

$0.992271

-0.33%

EURS

$1.27

-0.32%

TRAC

$0.344562

3.39%

USDF

$0.997997

-0.08%

MWC

$13.85

-0.25%

THBILL

$1.014

0.14%

GUSD

$0.998839

-0.26%

0G

$0.679903

3.58%

RUNE

$0.413098

1.57%

WEMIX

$0.311952

1.02%

IMX

$0.167854

2.17%

SNX

$0.405532

10.15%

RAVE

$0.590101

12.49%

SFP

$0.272561

-1.07%

EGLD

$4.60

0.01%

ZANO

$8.91

-0.87%

A

$0.082879

1.35%

JTO

$0.304817

-3.06%

AR

$2.03

-0.04%

GOMINING

$0.323599

-0.93%

1INCH

$0.093168

0.25%

ACRED

$1,097.52

0.01%

RLB

$0.074589

1.14%

B

$0.129801

-3.01%

WAL

$0.079977

-1.47%

KTA

$0.259534

-0.32%

BAN

$0.127847

1.50%

AMP

$0.00150812

-0.83%

DOLA

$0.995388

-0.02%

LION

$0.00409924

-0.71%

COCO

$0.125064

4.57%

BERA

$0.581434

-4.88%

OZO

$0.130792

0.06%

QRL

$1.58

-12.60%

CUSD

$0.993094

-0.54%

PUSD

$0.995734

0.00%

LPT

$2.37

1.80%

BMX

$0.34587

-3.90%

BEAM

$0.00228307

-0.96%

HUNT

$6.00

43.82%

COW

$0.207975

3.22%

EIGEN

$0.193992

-2.26%

FRXUSD

$1.00

0.03%

CASH

$0.999726

-0.00%

DEXE

$2.41

1.77%
Price data by

Decrypt
Courses

Decentralized finance, or DeFi, is a set of financial services built using smart contracts.

What Is Decentralized Finance (DeFi)?

DeFi is a term for financial applications that use blockchains instead of banks.

Ki Chong Tran
Jeff Benson
Matt Hussey
By Ki Chong Tran, Jeff Benson and Matt Hussey
Mar 2, 2023Mar 8, 2023
4 min read
Create an account to save your articles.