Decentralized finance is abbreviated as DeFi (pronounced dee-fy). It's a young industry that allows users to avoid the intermediary and conduct financial transactions directly with others. As a result, it's swiftly gaining acceptance as a viable substitute for conventional financial services. The majority of services provided by conventional banks and centralized financial institutions are now available through DeFi, and new goods and transactions are added daily.

DeFi is influenced by blockchain, the technology that underpins the virtual currency bitcoin. It enables many parties to each maintain a copy of a transaction history, preventing a single, centralized source from controlling it. This is significant because human gatekeepers and centralized systems may restrict the sophistication and speed of transactions while giving users less direct control over their funds.

Trophee (TROPHEE PTE LTD), based in Singapore, announced the production of a Play-to-Earn blockchain game, NFT collection and an animation series for the ZAN, a series of original art from world-renowned artist Yoshitaka Amano.

The cryptocurrency BNB, formerly known as Binance Coin, has been renamed Build and Build, and the blockchain ecosystem, formerly known as Binance Smart Chain, has been renamed BNB Chain. The statement was made a week after Changpeng "CZ" Zhao, CEO of Binance, tweeted that BNB stood for "Build'N Build," which means to build the community and let it grow.