Our sixth week of mainnet operations has arrived, and along with it a new token which we are keen on listing as it is one of the coins at the center of all the new hype behind #DeFi - #Compound.Finance
$Comp token is used to fuel the compound decentralized lending platform. Compound.finance is a new decentralized banking service that allows people to earn APR on their assets by depositing them into a smart contract. The contract then pays out the lenders' daily interest without the need for a third-party intermediary to handle the transaction who would normally keep a larger percentage of the profits.
With the recent adoption of many of these new #DeFi products, we have been questioning their capabilities and claims, while safely exploring secure means of deploying our own solutions to bring Defi contracts to the underlying blockchain platform Polarity is built on. In the meantime, we plan to continue searching for the most sound and adoption worthy Defi protocols. Enjoy another week of trading!
For more details on compound you can watch this video review: