Compound Overview
- What is Compound?
Compound is a decentralized lending protocol that allows users to borrow, lend, and earn interest in the same type of tokens they've lent. Users can earn interest on their digital asset holdings or take out loans by providing collateral. The interest rates are determined by a supply and demand mechanism within the protocol.
- Main Features
- Algorithmic interest ratesSmart contract relianceCommunity-driven decision-making processTransparent and auditable governance system
Frequently asked questions
Compound Governance refers to the decentralized community of COMP token-holders and their delegates who manage the Compound protocol. They have the authority to propose and vote on upgrades to the protocol.
To participate in Compound Governance, you need to be a COMP token-holder or delegate. COMP token-holders and their delegates propose and vote on upgrades to the protocol. You can participate in Compound Governance through various platforms and wallets that integrate with Compound, such as Zerion, Ankr, Enzyme, and more. These platforms provide interfaces for voting and delegating votes.
Deposit your supported cryptocurrencies into Compound's pools. The interest rate you earn depends on the specific cryptocurrency and its current supply and demand within the protocol. Generally, the lower the supply of a crypto in the pool, the higher the interest rate you'll earn for supplying it.
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