1.0WazirX Guidehttps://wazirx.com/guideharshitahttps://wazirx.com/guide/author/harshita/rich600338<blockquote class="wp-embedded-content" data-secret="XSN2bSEW7x"><a href="https://wazirx.com/guide/glossary/decentralized-finance-defi/">Decentralized Finance (DeFi)</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://wazirx.com/guide/glossary/decentralized-finance-defi/embed/#?secret=XSN2bSEW7x" width="600" height="338" title="“Decentralized Finance (DeFi)” — WazirX Guide" data-secret="XSN2bSEW7x" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script> /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); //# sourceURL=https://wazirx.com/guide/wp-includes/js/wp-embed.min.js </script> A brand-new financial system called decentralized finance (DeFi) is built on secure distributed ledgers comparable to those used by cryptos. The system eliminates the authority that financial organizations, including banks, have over money, financial goods, and services. Stablecoins, applications, and hardware that support the creation of applications are the elements that make up DeFi. DeFi's regulatory framework and supporting infrastructure are still being developed and discussed.