Stablecoins are cryptocurrencies designed to maintain a stable value, typically pegged to the US dollar. They exist in three main types: fiat-backed (USDT, USDC), crypto-backed (DAI), and algorithmic — the latter having a catastrophic track record including the $40B Terra collapse.
DeFi refers to a suite of financial services — lending, borrowing, trading, yield generation — built on public blockchains, primarily Ethereum. It aims to replicate and disintermediate traditional finance without banks or intermediaries. At its peak in 2021, over $180 billion was locked in DeFi protocols.
A Decentralised Autonomous Organisation (DAO) is an organisation governed by code rather than traditional management hierarchies. Members hold governance tokens and vote on proposals — from treasury spending to protocol changes. DAOs manage billions in assets across DeFi, investment, and protocol governance.