DeFi is short for “Decentralized Finance”, a public decentralized blockchain network that includes financial products available for everyone to use, without the need of an intermediary. 

A DeFi token is considered to be the digital version of a fiat coin, as it transfers value in a financial transaction, such as lending, interest earning, insurance purchase, asset trading and more, with the only difference that financial institutions do not possess any control over the transaction. A DeFi utilizes smart contracts to execute transactions in a quick manner.