word

DeFi Protocol

DEE-fy PROH-tuh-kol

/ˈdiː.faɪ ˈproʊ.tə.kɒl/

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Syllable breakdown

DeFiprotocol

Dictionary meaning

A decentralized finance application built on blockchain smart contracts that enables financial services (lending, borrowing, trading, earning yield) without traditional intermediaries like banks; examples include Uniswap, Aave, and Compound.

Examples

The DeFi protocol allows users to earn 8% annual yield by lending their crypto assets.
A vulnerability in the DeFi protocol's smart contract was exploited, draining $180 million.

Synonyms: DeFi app, decentralized finance protocol, smart contract protocol

Pronunciation tips

DeFi = Decentralized Finance. Protocols replace banks with code. The trade-off: no customer support, no recourse if hacked. 'Code is law' in DeFi.

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