Decentralized finance platforms are applications that function on the blockchain network. These platforms are the backbone of the DeFi concept that is being added to the financial sector. DeFi platforms enable business entities to operate without having to worry about third parties like banks, financial institutions, and government agencies. The concept of decentralized finance has elevated a wide range of business platforms to great heights. It paved the way for the digital community to invest and execute financial transactions without facing any delay by third parties.