What is a DeFi protocol ?

A DeFi protocol is a decentralized application that offers services on digital assets, such as lending-borrowing, liquidity pools, etc., without relying on intermediaries.

The most widely used DeFi protocols include: AAVE, Curve, UniSwap, etc.

Conversely, a CeFi (centralized finance) application involves a trusted third party, a legal entity such as Meria, Binance, etc.