DeFi Explained: Finance Without the Friction

Decentralized Finance is reshaping how financial services are built, accessed, and governed. DeFi Explained: Finance Without the Friction offers a clear, practical introduction to how DeFi removes intermediaries, reduces barriers, and enables open financial systems.
This book breaks down how lending, borrowing, trading, and yield generation operate on blockchain-based protocols. It explains why smart contracts replace traditional gatekeepers and how liquidity, incentives, and composability drive innovation. Rather than overselling disruption, the book carefully examines both the efficiencies and the risks of permissionless finance.
Inside this book, readers will learn:
• How DeFi protocols function without banks or brokers
• Why friction exists in traditional financial systems
• How liquidity pools, tokens, and incentives work together
• Where DeFi introduces new risks and responsibilities
• How open finance changes access, transparency, and control
Written in a clear, educational, and system-focused style, this book is ideal for students, professionals, investors, and builders. DeFi Explained equips readers with the understanding needed to navigate finance that is faster, more open, and increasingly programmable.