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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.
15 Oct 2020 1 minute read 0 comments CPix
Coinbase has launched an advanced learn to earn opportunity for Compound. To get this extra reward in $COMP Coinbase users can go through the process of lending $USDC (provided by Coinbase) to Compound.finance. Coinbase also sends each eligible user...
15 Oct 2020 1 minute read 0 comments PierreL
Hell everyone! This post will be short, I just wanted to share some interesting news I discovered today. If you're a Brave user, you might have seen this ad pop up (and if you're not, feel free to download it here). For every new account created on B...
14 Oct 2020 1 minute read 1 comment Abhimanyu Krishnan
DeFi data platform DeFi Pulse has launched a new safety rating metric in partnership with digital asset modeling platform Gauntlet, according to an announcement made on October 14. DeFi Pulse and Gauntlet launched the alpha version “Economic Safety...
13 Oct 2020 6 minute read 29 comments Chenhuang_defi
Unlike the banking world, cryptocurrency platforms offer you quite lucrative returns on any deposits that you put inside a specific protocol.Typically, you would be lucky if a bank would provide you with an interest rate above 0.5% in today’s climate...
8 Oct 2020 1 minute read 2 comments 0xJonnyDee
The Compound (COMP) price has fallen below a long-term support level and has proceeded to fall to a new all-time low. However, the price is trading inside a bullish pattern from which a breakout is expected. All-Time High to All-Time Low On Sept 1,...
7 Oct 2020 1 minute read 1 comment Nevsie
Following on from my previous question and answer article for Celo on Coinbase Earn tutorials, I thought I would follow this up with a few more currencies. The process follows a simple path. Watch a video, answer a question, get your reward. Compound...
1 Oct 2020 1 minute read 10 comments Abhimanyu Krishnan
Decentralized stablecoin platform MakerDAO (MKR) on September 30 added support for Chainlink (LINK), Compound (COMP) and Loopring (LRC) to act as collateral to generate DAI. LINK, COMP and LRC can now be used as collateral in Maker Vaults The govern...
27 Sep 2020 11 minute read 20 comments busyjordy
There’s a lot of buzz surrounding DeFi cryptocurrencies right now and I’m going to give you a quick break down on what they are and their purpose. DeFi is short for Decentralised Finance and it’s a pretty broad term, but the key thing is that most...
23 Sep 2020 3 minute read 3 comments The Part Time Economist
The recent airdrop of the UNI token shows the growing popularity of DeFi governance tokens. In the past, it seemed like DeFi was an "advanced" level crypto topic, but the sudden expansion of DeFi protocols and governance tokens means that even novice...
17 Sep 2020 1 minute read 0 comments Abhimanyu Krishnan
On September 10, the Compound Finance (COMP) team unveiled a new feature called autonomous proposals which streamlines the proposal creation process. The Autonomous Proposal tool allows anyone holding 100 COMP or more to launch the autonomous propos...
