Decentralized Finance (DeFi)

Decentralized Exchange (DEX)

Also: DEX

A trading venue run by smart contracts that lets you swap tokens directly from your own wallet, with no account and no one holding your funds. You still pay network fees and face risks such as fake tokens and price slippage.

General education, not investment, legal or tax advice. Markets and regulation change quickly: where a definition depends on current law or on a recent event, check the latest coverage before relying on it.