According to Richard Teng, DeFAI is an AI-powered tool designed to assist traders in navigating the DeFi markets with ease, as detailed in a Binance blog post. The platform aims to provide users with seamless DeFi experiences by leveraging AI to analyze market trends and offer valuable trading insights. This tool could potentially enhance trading efficiency and decision-making processes in the DeFi space. (Source: Binance Blog, Richard Teng)