Description
Compound is a pioneering decentralized finance (DeFi) protocol, designed to operate on the Ethereum blockchain, allowing users to either earn interest on their crypto assets or borrow against them. Utilizing smart contracts, it ensures a transparent, permissionless pathway to financial services, supporting a myriad of cryptocurrencies. Acknowledged for its innovative approach, Compound provides an autonomous, open-source environment equipped with the COMP governance token, enabling community-led protocol modifications. Initially launched on Ethereum and EVM-compatible, the protocol offers assets like USDC as base for borrowing, facilitated by its developer, Compound Labs. This institution not only champions DeFi's progress with algorithmic money markets but also explores cross-chain functionalities and institutional services through products such as Gateway and Compound Treasury. COMP, the platform's native currency, underpins this ecosystem with a circulating supply of over 8 million tokens, reflecting active market engagement according to its trading volume and current valuation. For governance insights and advanced offerings, Compound maintains a detailed platform accessible thr...
Compound is a pioneering decentralized finance (DeFi) protocol, designed to operate on the Ethereum blockchain, allowing users to either earn interest on their crypto assets or borrow against them. Utilizing smart contracts, it ensures a transparent, permissionless pathway to financial services, supporting a myriad of cryptocurrencies. Acknowledged for its innovative approach, Compound provides an autonomous, open-source environment equipped with the COMP governance token, enabling community-led protocol modifications. Initially launched on Ethereum and EVM-compatible, the protocol offers assets like USDC as base for borrowing, facilitated by its developer, Compound Labs. This institution not only champions DeFi's progress with algorithmic money markets but also explores cross-chain functionalities and institutional services through products such as Gateway and Compound Treasury. COMP, the platform's native currency, underpins this ecosystem with a circulating supply of over 8 million tokens, reflecting active market engagement according to its trading volume and current valuation. For governance insights and advanced offerings, Compound maintains a detailed platform accessible through their website.