DeFi is not formally defined but broadly includes the use of blockchain to borrow and lend using auction markets. It further trades in unconventional derivatives. At present, it trades in one set of crypto assets against another. Lastly, it deals in unusual forms of insurance. There are profiting possibilities mainly on account of disintermediation.

DeFi is growing rapidly. DeFi may bypass regulatory restrictions for private gain — this is a criticism against it. However, one thing is certain — crypto enables DeFi. As DeFi grows, the issues of oversight and control grow too. But DeFi can run on platforms outside the formal banking system. DeFi is ever-changing. It is not known where DeFi is headed. The days of strange finance are here.