What is Decentralized Finance (DeFi)?

This is my most extensive attempt yet at defining what is decentralized finance (DeFi) in a single video. Although I spend 24/7 demonstrating DeFi through tutorials, it's incredibly difficult to distill this knowledge down to a 30-minute explainer video, but I tried! 😂

I expect we'll debate some of the points I've made here in the future, but for now, I hope this helps bring more up to speed on the radical innovation behind decentralized finance on Ethereum, what qualifies an app as DeFi, and what disqualifies an app from being labeled DeFi.

In this video, I discuss the following:
1️⃣ What came before DeFi
2️⃣ What is DeFi
3️⃣ My litmus test for what is DeFi
4️⃣ Common DeFi apps
5️⃣ Risks associated with DeFi

📺 As follow-up, check out my explainer video on "What is Yield Farming" to learn about one of the most popular DeFi programs where one earns multiple forms of yield for being a liquidity provider:    • A DeFi Lesson: What is Yield Farming?  

📺 For more DeFi tutorials like this, hit the subscribe button and follow @DeFi_Dad on Twitter for daily tips and tricks at   / defi_dad  

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Disclaimer & Risks: This is not financial advice and you should approach all DeFi applications, wallets, protocols, and tools with caution. Please be aware there is always risk in using DeFi, including technical risks (ie smart contracts hacks), financial risks (ie liquidity crises), and potentially admin risk (admin key compromise, governance vulnerabilities). Also there is risk whenever using leverage (if it's ever used), and there's risk of the dollar-peg failing in any stablecoin.
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