DeFi Protocol

A system of interrelated smart contracts and their governing arrangement that enables peer-to-peer financial transactions in a decentralized manner. A DeFi protocol provides communication, connectivity, or software services that users employ to communicate trading interests without including or relying on intermediaries. While protocols may originate from individual developers, authority and control in a DeFi protocol is decentralized among unrelated entities in the governance structure. DeFi protocols can be accessed through front-ends user interfaces or directly/locally from a computer for more technical users.