> For the complete documentation index, see [llms.txt](https://lila-finance.gitbook.io/lila-documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://lila-finance.gitbook.io/lila-documentation/getting-started-with-cryptocurrency/what-is-decentralized-finance.md).

# What is Decentralized Finance?

Decentralized Finance (DeFi) is simply finance on the blockchain. Instead of going through a bank, brokerage, or investment manager, all of whom take fees, DeFi allows you to interact with financial services with much greater autonomy. DeFi eliminates intermediaries and reduces transaction times.