Definition

Decentralized Finance: A system where you can lose your money to scams without a bank's permission. The future of finance according to people wearing Ethereum hats.

Example Usage

I'm putting my life savings into this DeFi protocol that was created last week.

Source: Cryptocurrency and blockchain terminology

Related Terms

Intermediate

Float

The difference between a company's book balance and actual bank balance due to checks written but not yet cleared. Temporary money that doesn't belong to you but you can use anyway.

💰 Finance / Accounting
Intermediate

Cash Float

Cash in transit between accounts or between a company and its bank, where it technically belongs to neither for a brief period. The financial phenomenon accountants use to explain why the bank and the company's records disagree.

💰 Finance / Accounting
Intermediate

boarding

In fintech and hospitality, the process of onboarding someone into a financial service or accommodation by providing meals and lodging. It's the careful dance of getting customers to commit their money and wallets to your platform before they realize the terms are ridiculous.

💰 Finance / Accounting
Beginner

percent

One of every hundred—the metric that makes statistics sound official even when they're basically just guesses. Your new favorite way to confuse people with math.

💰 Finance / Accounting
Advanced

activity-based costing

An accounting method that assigns overhead costs to products based on the activities that actually drive those costs, rather than arbitrary allocations like direct labor hours. It's acknowledging that not all products consume resources equally, which revolutionized cost accounting but requires painful implementation.

💰 Finance / Accounting
Beginner

revenues

The money flowing into a company's or government's coffers from all possible sources—taxation, sales, investments, or whatever creative accounting method they're employing this quarter. The number that makes CFOs smile or weep.

💰 Finance / Accounting

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Beginner

bombs

Explosive devices designed to ruin everyone's day spectacularly, OR in slang, a complete commercial failure that somehow...