No Summary provided as the original text is short
- DeFi (decentralized finance): A blockchain-based financial system enabling peer-to-peer transactions without reliance on traditional intermediaries like banks.
- Intermediary: A middle party facilitating transactions or services between two entities, common in traditional finance but absent in DeFi systems.
- Citadel: A major financial services firm based in the United States, known for hedge fund management and market-making operations.