TR；DR
1. DeFi is decentralized finance, an on-chain financial industry built on the blockchain. The current transaction volume is around hundreds of billions of US dollars, with Europe and the United States having the main voice.
2. On-chain finance is the first financial innovation industry in human history to be decoupled from politics. At the same time, many false financial scams and real financial innovations have emerged.
3. Self-custody of funds is a very different point between DeFi and traditional finance. Investors need to be responsible for the security of their own funds.
4. The interest rate of stablecoins is not regulated by a central agency, but fluctuates in real time based on the degree of liquidity shortage, like an inverted financial world.