DeFi is short for decentralized finance – a field in the cryptocurrency industry that many believe to be their best use case with the brightest future.
While DeFi has been around for a long time, it really took off in the summer of 2020 when the total value-locked in various decentralized protocols skyrocketed to the range of billions. This was facilitated by the appearance of automated market makers and decentralized exchanges such as Uniswap.
The field of decentralized finance has grown substantially in a very little timeframe and it appears that the interest in it is only going to increase. According to the latest DeFi news, there are hundreds of projects and thousands of investors exploring its numerous capabilities and opportunities.
A lot of industry proponents believe that DeFi is capable of revolutionizing traditional finance and even the fintech industry.