antifoul - basically a paint you slap on the underside of a hull which contains lots of toxic nasties to stop anything growing on it. If you want to see what difference it makes and your near the royal quays, have a look along at the small boats, you'll easy see those that do and those that don't!
if you leave a boat in the water too long without it the weed/barnacles/keel worms will start to break down and rot the gel coat and fibreglass, plus the extra weight/drag of all that lot affects performance hugely
not as toxic as it used to be though