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Compound

Crypto Lending Platform

Compound is a decentralized bitcoin lending platform built on Ethereum blockchain protocols.

Compound

Overview

What is

Compound

Compound is a decentralized bitcoin lending platform built on Ethereum blockchain protocols.

Compound

fees

Taker fee =
Maker fee =

Compound

supported currencies

Website
Compound
Twitter
@compoundfinance
Available in the US?
Year founded
2017
Accepted payment forms for
Compound
No items found.

Pros

  • The fact that no KYC, AML, or credit score is necessary to use the Platform provides consumers a sense of liberation.
  • One of the most established and well-known names in the DeFi space.
  • The native tokens of the Compound: COMP, are used to reward users. It functions as a governance token as well as a profitable asset.
  • There are no restrictions on using the asset pool several times.
  • The Compound is a Community-governed Decentralized Autonomous Organization.
  • In comparison to regular banking, interest rates are higher.

Cons

  • Liquidation of collateral is frequently a big setback for users due to the unpredictability of Cryptocurrencies.
  • Users can only lend or borrow from a limited number of cryptocurrencies.
  • Yield farming can be particularly dangerous because users can exchange crypto for much more than they put down.

Features

  • Hassel free access to credit
  • Smart contracts algorithmically calculated interest rates
  • Rewards lenders and borrowers with COMP token.
  • Yield farming

Compound

Review

What is Compound?

Compound was founded in 2017 by Robert Leshner and Geoffrey Hayes and is based in San Francisco, California. It's a completely decentralized bitcoin lending platform built on Ethereum blockchain protocols. The Platform has over $11B assets under management, with interests in 18 markets.

Compound was initially a centralized organization, but after the recent release of its native governance token, COMP, the first step toward transforming Compound into a community-governed decentralized autonomous organization was taken (DAO).

Customers can lend or borrow at the same time about 12 Ethereum-based assets such as BAT, ZRX, and WBTC using Compound Protocol.

Furthermore, a distinctive element of the platform is that it delivers a frictionless and simply manageable platform by employing smart contracts algorithmically determined interest rates, reducing unwanted nuisances that one could encounter in a regular financial banking system. The platform has introduced Yield Farming, an innovative crypto-economy that has increased users' borrowing power.

Year Founded: 
2017
Check out Compound now
@compoundfinance

Compound

FAQs

Is
Compound
centralized or decentralized?

Compound

is a

Crypto Lending Platform

Is
Compound
available in the US?

Yes,

Compound

is available for users in the United States.

No,

Compound

is not available for users in the United States.

How many cryptocurrencies does
Compound
support?

Compound

supports

How many collections does
Compound
support?

Compound

supports

Customer Reviews Of 

Compound