Latest Posts with Compound Finance (COMP) tag

Compound Finance (COMP)

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Compound Finance is a decentralized lending platform that uses an autonomous interest rate protocol that lets users earn interest on or borrow assets against collateral. Asset holders can contribute liquidity to the market, for which they are rewarded. Rates depend on supply and demand, and different assets hold different rates.

 

The platform was launched in August 2017 by Robert Leshner, who also acts as the company’s CEO. The team currently has 15 members, with Geoffrey Hayes serving as CTO. The team expects that its protocol will increase the possibilities with open financial applications, and to that end has seen investment from some of the biggest names in the blockchain and cryptocurrency industry. Notable investors include a16z, BainCapital Ventures, Coinbase, Paradigm, Polychain Capital and Dragonfly Capital.

 

It currently works in 9 different markets: Ether (ETH), Basic Attention Token (BAT), DAI, USD Coin (USDC), Tether (USDT), Augur (REP), Wrapped Bitcoin, 0x (ZRX) and SAI. The process by which users can begin earning interest on their assets is straightforward, requiring not more than a few steps to begin supplying liquidity and earning interest.

 

The project’s mainnet was first launched in September 2018, with version 2 following in May 2019. Compound achieved recognition when it launched the $COMP token in June 2020. The governance community, led by Polychain Capital, approved the use of the token on the mainnet following a testing period, which subsequently led to a large influx of users and investment. 

 

The introduction of the COMP token has resulted in Compound Finance quickly becoming the largest contributor to the decentralized finance (defi) space, with its total locked valued exceeding $630 million.

 

Learn more about Compound Finance (COMP) here, including news, price predictions, opinions and analyses created by users.

 

Balancer (BAL)

 

Balancer is a market maker protocol that allows its users to contribute liquidity to various assets and consequently earn a portion of the generated trading fees. Fees are collected from traders and portfolios are continually rebalanced through arbitrage opportunities. 

 

Founded in 2018 by Balancer Labs, the platform itself was officially launched in March 2020. It distinguishes itself from other automated market makers by considering various assets and weightage. The fees that can be earned from executed trades can be customized for each liquidity pool. Furthermore, it removes the middlemen that are portfolio managers - using traders’ fees and arbitrage opportunities to rebalance the portfolio instead. 

 

The project’s whitepaper, published in September 2019, offers a detailed explanation of the design of the liquidity and trading formulae that underpin the network’s economics. A succinct, high-level explanation of the network’s features can be summed up as follows: the protocol offers various types of liquidity pools with varying levels of permissions. Private pools are controlled by the pool creator, who may determine its parameters at will, while shared pools’ parameters are permanently fixed with the creator holding no special privileges. Smart pools are controlled by smart contracts and allows for a range of logical conditions and restrictions.

 

The project launched on the mainnet in late March 2020 alongside exchange and pool management dapps, among other launches. The BAL token itself was launched in June 2020, with 435,000 tokens set aside for distribution to liquidity providers, which will be handed out over the course of 3 weeks. The development team has stressed that the protocol is new and subject to change and development, both for refinement and security purposes. 

 

Learn more about Balancer (BAL) here, including news, price predictions, opinions and analyses created by users.


Coinbase going to the stockmarket?

4 hours ago 1 minute read 0 comments Panzer

The crypto exchange company, Coinbase, has scheduled its first-ever investor day for Aug. 14, amid rumors that the crypto exchange is exploring a public stock listing.   It is unclear, however, whether the virtual event is related to the rumored effo...

Top Things You Should Know About Compound Finance (COMP)

8 Jul 2020 7 minute read 5 comments MuyAsk

Hey guys :) I’m back with another comprehensive Q&A piece, this time for the popular DeFi lending project – Compound Finance (COMP). Compound Finance is a decentralized money market lending protocol on Ethereum that lets users earn interest or borrow...

Top 10 DeFi Apps To Use In 2020

8 Jul 2020 3 minute read 0 comments Crypto Resources

1 ) Polymath Security assets is one of the most interesting future markets on the blockchain. And with Polymath you can easily use their white label solutions to tokenise your assets or create new security tokens and create, issue and manage digital...

Total Value Locked in DeFi Might Be Actually Higher Than $2B

7 Jul 2020 1 minute read 0 comments Abhi K

The DeFi space has grown by a considerable amount in 2020, rising from $691 million at the start of the year to $2.01 billion of the total value locked at the time of publishing. But true values may actually exceed $2 billion, a popular defi data pla...

3 DeFi Breakthroughs You Might Have Missed in June 2020

7 Jul 2020 3 minute read 5 comments Ed-california

Hello again everyone. It’s been a long time since I’ve posted but well, we’re all having a tough time with the lockdowns and the consequences of the pandemic.  COVID-19 doesn’t seem to be affecting the cryptocurrency market though - a lot of action h...

How Compound beat MakerDAO in just one day and became the leader in the DeFi market

7 Jul 2020 8 minute read 1 comment Kluma

DeFi remains a source of fast financial ups, but also the same fast falls. Previously, the MakerDAO project was the main driver of this market. However, in a short time he was overtaken by a competitor in the person of Compound. As a result, the capi...

7 Projects That Are Building the Infrastructure for Emerging DeFi

6 Jul 2020 6 minute read 7 comments Brawnd0

The Ethereum project has positioned itself as the hotbed for the decentralized finance services. Defi, as these services are commonly called, has become a cornerstone of the cryptocurrency market. The primary application of the many protocols that fo...

Market Surprises as There is Now More DAI in Compound than Its Total Supply

6 Jul 2020 1 minute read 3 comments Abhi K

The amount of DAI on-chain has been eclipsed by the amount of DAI locked in the Compound Finance (COMP) protocol. Dan Yanev, COO of the DeversiFi exchange, pointed out the interesting development on Twitter on July 3, which can be confirmed by taking...

DeFi Kyber Network: Get Ready for KNC Staking

5 Jul 2020 2 minute read 10 comments tomoyan

I thought COMP and yield farming were very interesting few weeks ago, but the farming and harvest season is pretty much done for now since Compound governance is over adjusting COMP distributions and everything so that interest on BAT supply went fro...

The COMP Effect.

5 Jul 2020 3 minute read 1 comment noBeans

COMP affecting the price of several tokens including our favorite BAT.   For a long time now, we have known that Bitcoin holds a strong influence on Alt-Coins. We have experienced most of the altcoins bleed whenever there is a sudden move in Bitcoin...