DeFi: To the moon

DeFi: To the moon

By cryptouf | Les cryptos pour les nuls | 20 Jun 2020




On Monday, February 15, the distribution of community tokens for the Compound protocol began, the COMP tokens. So since Monday , users  (borrowers and lenders  are generated COMP tokens.

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Very quickly the COMP token to passed the MakerDAO MKR  and become the first token in terms of Defi token capitalization.

The release of this token gave a big boost to other Defi protocols . In fact to generate more COMP people borrowed more to then lend more on Compound and create leverage. So all liquidity pool involving USDT and USDC particulary.

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In fact daily volume on Curve’s pool exceeded 52 000 000 $ and the APY on some pools exploded. For instance APY of the Y pool in, at the time of writing, at 180% !!!And the Liquidity utilisation is around 400%.

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Defi is reaching some important levels since few weeks/days. And clearly become more and more popular.

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Les cryptos pour les nuls
Les cryptos pour les nuls

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