DYOR Crypto Wiki

"The lack of required belief that another party will behave in the the manner specified beforehand."

"Maximal, complete, and uncompromising assurances that a counterparty will behave as intended"

So it boils down to this:

  1. You can always access your money
  2. No one else can access your money

Using this framework for evaluating DeFi applications, the level of ‘trustlessness’ in the system extends far beyond ‘admin key risk’."