Compound is a protocol that provides a platform for lending and borrowing certain Ethereum tokens via smart contracts. Lenders receive an interest rate for providing liquidity. When you use the platform as a borrower or lender, you receive COMP tokens that you can use to participate in decisions about Compound's future.
A significant amount of cryptocurrencies sits unused on exchange platforms or in wallets. Compound offers a way to generate passive income with these cryptocurrencies. Although this is very lucrative, there are several protocols such as Aave that have larger liquidity pools and a similar governance structure.
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Compound is apowered by,uses to validate transactions,and is.Compound also supports.
Interesting facts about Compound
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Users receive Comp-tokens with which they can participate in governance decisions.
When providing liquidity to a Compound-pool, you get cTokens. Because the exchange rate to the original asset increases, you earn interest.
Compound enables the lending and borrowing of certain Ethereum tokens.
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Compound price and insights
See how much Compound is worth and learn from other insightful metrics
-0% past 1 week
Based on 1 community reviews
Market capitalization Very small
24 hour trading volume Very small
Market cap % of total Very small
# Discord members 16,748 8% of them are active
# Telegram members -
% of total supply circulating Very small
What’s the community like?
Community matters for projects like Compound, because an active community drives the development of use cases for a blockchain project. The more people are active, the better to have healthy discussions and create something valuable.