Compound - an application that runs on the Ethereum blockchain. It allows users to earn interest on their deposits and request loans among the five cryptocurrencies that are traded there. Among them are: ether (ETH), 0x (ZRK), basic attention token (BAT) and augur (REP).
Contents:
- Compound dapp description
- Distinctive features of the blockchain project
- Become a comprehensive lender on the Ethereum platform
- Borrowed assets in dapp
Compound dapp description
Firstly, with the Compound protocol, you can make deposits in ETH or any of the aforementioned tokens. Secondly, they will provide liquidity to the market and allow other users to request loans. The project community is on Twitter. More than 13,000 people have subscribed to the social network. Thanks to the liquidity that lenders offer to the market, you can apply for a loan with a collateral ratio of 1.5x. This means that for every $ 100 in loans, you need to make at least $ 150 on deposit.
Actions that users can take on the site:
- Apply for loans without intermediaries in any cryptocurrency, managed by Compound that can be paid at any time.
- Issue loans that will generate a profit through interest and can be withdrawn at any time without any restrictions.
- Perform exchanges between cryptoassets.
In addition, the Compound development team plans to completely decentralize the application so that it is regulated by the user community. On the site, there is a "white paper" document, which describes all features of the project. However, there is no roadmap.
Distinctive features of the blockchain project
Using the platform, you can request loans for the amount of cryptocurrency you need. In addition, you avoid possible loss of funds in the event of a sudden increase or decrease in price. Because there is a guarantee between the deposited amount and the amount you receive on credit. The developers do not provide bonus systems and other promotions.
The deposit can be made in any cryptocurrency, supported by Compound. Another important aspect to consider when applying for a loan - the annual interest rate. In addition, this metric is updated every time a block is added to the Ethereum blockchain.
Become a comprehensive lender on the Ethereum platform
At Compound, if you save on cryptocurrency for a long time, you can earn income. For starters, this platform allows users to take deposits by offering liquidity in any market available on it. In addition, the creators of the project provide information about the fairness of the exchange. You can see the audit data and other checks in the "Security" section.
For every deposit, made on the platform, the system will pay interest, which will vary, depending on supply and demand. In addition, there are a number of community-created interfaces that you can use to access the Compound protocol and markets, including the Compound Interface, Zerion, InstaDapp, and more. For a complete list, go to the Compound website.
Some features of the platform:
| Composite interface | An original, intuitive interface for interacting directly with a composite protocol. |
| Coin purse | Easily send and receive cTokens and track your composite balance in real time. |
| Multis | Simple and powerful interface, designed to manage one account. |
| Huobi Wallet | Application with multiple wallet assets. Track your balance in real time. |
| TokenSets | Automated trading strategies, using cTokens and Ethereum assets. |
When you provide resources for a composite protocol, your balance is displayed as c Token. Plus, it can be transferred, sold or programmed by developers.
Borrowed assets in dapp
Composite protocol relies on collateral. Borrowing is instant and the borrowed funds go from the protocol directly to your wallet. The security of the composite protocol - the top priority of the platform. The development team, along with third-party auditors and consultants, have made significant efforts to create a protocol that is secure and reliable.