- Algorithmic money markets
Compound is an open-source protocol for algorithmic, efficient Money Markets on the Ethereum blockchain. Supply assets to the Compound protocol and earn interest. Seamlessly borrow assets from the Compound protocol right to your wallet.
588 events +284.31% (30d)
1264 events (90d)
- Daily 706
- Weekly 4,923
- Monthly 14,667
- 1 day 1,365
- 7 days 13,305
- 30 days 77,938
- 1 day 6,474.93
- 7 days 367,535.352
- 30 days 2,135,682.285
On the basic use and driving rationale behind Compound, very little has changed since my earlier review. Compound remains on the main dApp platforms to provide liquidity and lending/borrowing services to users on the Ethereum blockchain.
Compound is an open-source protocol for algorithmic, efficient Money Markets on the Ethereum blockchain. It was built as a means for users to earn interest on Ether and other various tokens as well as borrow these tokens to invest or use it as a financial aid. Compound users are classified as Suppliers (lenders) and Borrowers. These Suppliers and borrowers of assets do communicate directly with the protocol, earning (and paying) a floating interest rate, without having to negotiate terms such as maturity, interest rate, or collateral with a peer or third party.
Cryptocurrencies has over the years cause the digital blockchain to developed assets into a vibrant ecosystem of investors, speculators, and traders, exchanging thousands of blockchain assets. Decentralized financial sectors have also tried their best to cause transparency in the field of assets for individuals to have a total control over their assets without any third-party. It is with this that compound which is built on Ethereum seeks to allow its users to earn interest on or borrow cryptographic assets without having to negotiate with a counterparty or peer . Compound is currently ranked 44th on the state of the dapps and 5th on the finance category.
There are lots of issues disturbing the world and finance is at the foundation of it. Interest rates charged by finance houses are getting too much and sometimes discourages people from going to them for help. Blockchain bank came into existence to solve some of this problem especially the ones relating to high interest by providing different platforms for people to earn and loan. This will lead me to the latest dapp I just came across called compound protocol.
Compound is one of a growing array of lending and borrowing platforms that are beginning to mature on the Ethereum blockchain. As one of the more recognisable names in the crypto lending business, with write ups and mentions from mainstream publications like Fortune, CNBC, Bloomberg, TechCrunch and Wall Street Journal, they enjoy a higher amount of active users on their platform (which is a key metric for the successful matching of lenders and borrowers).
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