Checking Out Compound Finance
About a week ago I checked out Uniswap, a decentralized exchange where you can provide liquidity and earn income.
It’s one of the latest Decentralized Finance applications, which are gaining momentum.
Today, we’ll take a look at Compound Finance.
Compound Finance is part of Compound Labs, which was the first company invested in by Coinbase’s venture capital arm.
It’s an open-source protocol for algorithmic, efficient Money Markets on the Ethereum blockchain.
Basically, you can borrow and lend on Compound and rates are determined by the algorithm.
For borrowers you can collateralize your crypto assets to take out DAI. And then use that to trade or short or whatever you need it for.
For lenders you can deposit your coins to the lending pool and earn interest.
The current coins and interest rates are below.
As you can see your coin choices are limited at the moment. And the rates are anemic.
Still, this is one to keep your eye on as Decentralized Finance develops.
or Abra
and trade cryptos on Binance and Bibox...
And delegate SP with MinnowBooster
i must to check them out , thank for sharing
Those are all unfamiliar coin to me except brave token.
All good projects worth checking out
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