DeFi – Compound

Compound

Introduction

The compound is a decentralized finance protocol, the second-largest in the current DeFi industry.

Similar to MakerDAO, Compound is also a decentralized finance protocol. However, it is more flexible than Maker. The platform supports BAT, DAI, SAI, ETH, REP, USDC, WBTC, and ZRX, compared to Maker supporting only ETH, BAT, and USDC. Depending on the quality of assets, users can apply for loans up to 50-75% of their collateral.

With the rise of Maker’s stability fees, Compound has been proving to be a very viable alternative to its competitors. During June 15, the platform’s governance token, COMP, began distribution and garnered additional interests for the project. Users could earn COMP for all cryptocurrencies lent, and borrowed on the app. Demands for the token was high due to limited liquid supply in the market, resulting in a large growth in project capital. Compound even briefly overtook Maker as the protocol with the most value locked during this period.

Fundamentals

Compound’s token, COMP, is currently valued at $132.66, with a market cap of $419,109,289 USD. There are currently 3,154,176 / 10,000,000
COMP in the circulating supply.

 

Source: https://defipulse.com/compound

 

 

 

 

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