Compound.finance Exchange Review – Autonomous Interest Rate

About Compound.finance Exchange Compound.finance Exchange majority of cryptocurrencies sit idle on exchanges and in wallets, without yielding interest. We’re on a mission to change that.Compound Finance Review: DeFi Lending & Yield Farming. Compound has recently become the largest lending protocol in Decentralized Finance (DeFi). … The sudden drop in crypto markets during the same period […] The post Compound.finance Exchange Review – Autonomous Interest Rate appeared first on Coinworldstory.

Compound.finance Exchange Review – Autonomous Interest Rate

About Compound.finance Exchange

Compound.finance Exchange majority of cryptocurrencies sit idle on exchanges and in wallets, without yielding interest. We’re on a mission to change that.Compound Finance Review: DeFi Lending & Yield Farming. Compound has recently become the largest lending protocol in Decentralized Finance (DeFi). … The sudden drop in crypto markets during the same period has not phased Compound users, who still have over 600 million USD worth of crypto locked on the platform.

Operating Company 

Exchange Name Compound.finance Exchange
Support 24/7
Language English
Deposit Fee Free
Bat $0.36
Support 2-factor authentication
Official Site https://compound.finance/

How To  Start With Compound.finance Exchange Cryptocurrency

To Start Trading With Compound.finance Cryptocurrency Indian Residents First Have To Sign Up For An Account By Following The Steps Below.

Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The Compound.finance Cryptocurrency Website.

Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.

Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.

Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.

Step 5. Click On The “Confirm Email” Link In The Activation Email.

Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Compound.finance Cryptocurrency Account.

Open Price Feed

The Open Price Feed is a decentralized price oracle built on Ethereum. It’s made up of Reporters, Posters, and a View to read accepted prices. Anyone with access to reliable price data can post and store their price data on-chain. Any developer can configure a View Contract to their liking, however, the Reporters in the Compound View Contract may only be approved through Compound Governance.

APR Rates

Borrow Asset APR Rate
USD CoinUSDC 2.58%
AugurREP 2.58%
TetherUSDT 2.58%
EthereumETH 4.06%
DAIDAI 4.06%
0xZRX 5.03%
Wrapped BitcoinWBTC 5.03%
Basic AttentionBAT 18.08%

Collaterals Accepted

Collateral Asset Collateral LTV
EthereumETH 75%
DAIDAI 75%
USD CoinUSDC 75%
Basic AttentionBAT 60%
0xZRX 60%
AugurREP 50%

How Compound Finance Works

Compound Finance works differently from other types of loan markets. As a lender, you don’t lend money directly to a borrower. You lend assets to the Compound Finance “liquidity pool”, from which borrowers can borrow assets:

The liquidity pool is not the Compound Finance team, a bank, but a series of smart contracts. These smart contracts automatically match borrowers to available assets. Then, the contracts automatically shuffle interest payments from borrowers to lenders.

That’s not all though. The smart contracts also determine interest rates with fancy algorithms that look at Compound Finance’s supply and demand at any given time. Here are a few more facts that might interest you:

  • There is no minimum for either lending or borrowing
  • Lenders earn interest about every 15 seconds (every Ethereum block)
  • You can use Compound for as long as you like, without any penalties

The Compound Protocol

While DeFi may seem overwhelming complex to the average individual, Compound prides itself on building a product that is digestible for users of all backgrounds. 

“Compound is a protocol on the Ethereum blockchain that establishes money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand for the asset. Suppliers (and borrowers) of an asset interact 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 counterparty.”

Cryptocurrencies Support

Compound currently supports 9 cryptocurrencies, namely: Ether (ETH), USD Coin (USDC), Basic Attention Token (BAT), Tether (USDT), 0x (ZRX), Wrapped BTC (WBTC), Dai (DAI), Augur (Rep) and Sai (Legacy DAI) (SAI).

Safe

Compound Labs takes smart contract security very seriously and regularly audits the protocol. Crypto assets are held in a multi-signature cold storage wallet that is currently maintained by the company. As with any new innovative financial product there are risks involved, however Compound Finance has thus far had zero major security issues or breaches.

Disclaimer:

Not all the websites Which listed in Top List are 100% safe to use or investment. We do not promote any of those. Due diligence is your own responsibility. You should never make an investment in an online program with money you aren’t prepared to lose. Make sure to research the website. So Please take care of your investments. and be on the safe side and avoid much losing online.

The post Compound.finance Exchange Review – Autonomous Interest Rate appeared first on Coinworldstory.