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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.
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...
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...
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...
6 Jul 2020 1 minute read 3 comments Abhimanyu Krishnan
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...
5 Jul 2020 2 minute read 11 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...
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...
4 Jul 2020 1 minute read 3 comments MadMaxx
I was browsing through my Compound.finance account today, checking on my earnings and looking to transfer some profits to my personal wallet when I saw something very special in the DAI section. The amount of DAI on compound was a mind blowing 532 mi...
2 Jul 2020 3 minute read 0 comments XawPublish
Welcome to the monthly review of my token portfolio, it's already the 5th post where I provide an update of the interests received, the services used and the transactions performed. This post tracks what happened in June. Crypto interests received in...
1 Jul 2020 1 minute read 0 comments noBeans
We all know how a huge portion of BAT's liquidity is being supplied into the compound platform due to the high interest rate available on compound.finance. That is about to change as a vote to alter the way COMP is being distributed amongst the use...
1 Jul 2020 1 minute read 0 comments Abhimanyu Krishnan
The Compound Finance (COMP) team announced on June 29 that a new proposal that changes the distribution rules of its COMP token has been approved. Compound Proposal #11, the changes of which will come into effect on July 1 at 12:31 AM, was almost una...
