In fact, you get a high-interest savings account, in a world where savings accounts don't pay or even negative interest (you pay the bank to keep your money!). Currently, the DAI interest on the Compound pays 26 TIMES more than the average US savings account. USA (2.32% annual interest versus 0.09% annual interest).
However, the interest rate changes and has been as high as 8.08% recently (90 times more than the average US savings account). 8% also refers to the average performance of the US stock market. USA
Long-term, not including short-term recessions and economic shocks caused by things like the coronavirus. Thus, you can potentially get the stability of the dollars, but with the stock market returns using Compound!
With the first app in Exodus, Compound.Finance, you can now use Compound to earn high interest in your assets, allowing you to move further away from the traditional financial system.
As its name implies, the application uses a compound interest system. The earnings that accumulate in the portfolio are taken into account when calculating the amount to be paid, based on the percentage of interest.
Why compound finance?
The promise of smart contracts is finally being fulfilled with the emergence of innovative decentralized applications (Dapps), especially those in the decentralized finance space (DeFi).
Compound.Finance is one of the main DeFi applications. And with a few clicks, you can start earning interest in Dai stablecoin through Compound, earnings are received by users in stablecoin DAI, directly from their Exodus wallet.
* Any interest you earn is added to your initial DAI deposit, allowing you to increase your wealth much faster.
* Besides that, guess how often you earn interest? Each month? Test every 10-15 seconds (each Ethereum block)
* There is no minimum deposit.
* You can use Composite as long as you want, without penalties.
* And there is no ID verification, KYC, or location restriction. Anyone from anywhere in the world can start earning DAI interest today.
That is the true meaning of "without permission" 😉
In addition to everything we have mentioned, the Compound.Finance protocol has been well received by investors. In this regard, they point out that by March 26, some 18,284 users, lenders and borrowers, entrusted their money to the protocol. At that time, the daily volume generated by Compund was around USD 22 million.
Compound.Finance is one of the main decentralized finance applications (DeFi), as explained by the Exodus team, which adds that, in addition to offering interest earnings on savings, the company is considered one of the cornerstones of the growing DeFi ecosystem. According to DeFi Pulse statistics, which specify the dollar amount deposited in this system, there are currently some USD 86 million deposited. As of February 23, the amount deposited in the system was around USD 173 million.
the team made up of His General Counsel, Jake Chervinsky and people like Andreessen Horowitz. For reference, Marc Andreessen created the first popular web browser, you know, what you're using to read this - people like that have the ability to detect potential. Exodus has also become one of the top crypto wallets with over 4 million downloads and one of the highest ratings on the App Store and Play Store.
The information provided is for informational purposes only