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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.
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Coinbase has listed COMP token to Coinbase Pro and Coinbase this week. When they list a new asset they want you to learn about the asset, what it is, how it works. This doesn't happen to all the new assets they add but COMP seems to be a special case...
Everyone has started talking about DeFi all of a sudden - but why? What’s going on to cause such a spontaneous buzz? The real boom has started on June 16th, 2020, when the DeFi lending platform, Compound, released its own $COMP token that landed amo...
Hey folks, Just a little post to inform you that Coinbase added COMP governance token to their Coinbase Earn program. As you can see, you have to join the waiting list to be able to follow the curse. By watching and answering to 3 different video...
Compound (COMP) is an Ethereum token that governs the autonomous Compound protocol. The protocol allows anyone to borrow and lend Ethereum tokens through a decentralized market. Lenders earn interest on the crypto they supply to the protocol and borr...
How to Provide liquidity on Balancer and Compound platform? Balancer Labs and Compound Finance. are both liquidity providing platforms where you can supply your tokens to these platforms and other users can in turn borrow from the pool where you an...
Binance will list Compound (COMP) and open trading for COMP/BTC, COMP/BNB, COMP/BUSD and COMP/USDT trading pairs at 2020/06/25 6:00 AM (UTC). Users can now start depositing COMP in preparation for trading. Although Compound (COMP) entered the marke...
In continuing my series looking into what whale addresses are doing in specific cryptos I decided my next target would be the COMP token. Why the COMP token? My main idea behind doing this work is to see if we as investors in this space can learn som...
A Short Intro on Liquidity Issues in DeFi Decentralized Finance (DeFi), otherwise known as open finance, is an emerging trend in crypto that’s only just getting started. We’re witnessing the dawn of an open, permissionless, and decentralized financi...
You must hear about $COMP, which price went up from $61 to $372.79 ATH. It is one of the hottest tokens in recent days, competing with $MKR for the largest DeFi token by market cap. See the price and dapp volume performance. Instead of just loo...
