How do you earn interest with DeFi?

Could you please elaborate on how one can earn interest through DeFi, or decentralized finance? I'm curious about the various methods and strategies that are typically employed in this space. What are the key components of earning interest in DeFi, and how do they differ from traditional financial systems? Additionally, what are some of the risks and considerations that investors should keep in mind when pursuing interest-earning opportunities in DeFi?