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Compound

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Unlocking a universe of decentralized financial applications

Compound is an algorithmic, autonomous interest-rate protocol on the Ethereum blockchain. It is one of the pioneers of the DeFi hype and since its inception has grown to have more than $500 million worth of crypto assets being locked and over $900 million being supplied.

Compound provides a platform where crypto assets can be supplied and borrowed by individuals without requiring any KYC. Interest rates are then compounded at a block-level on the Ethereum blockchain without any central party involvement.

Compound relies on the concept of over-collateralization where individuals can supply tokens to earn yield while borrowers can borrow assets with collateral like ETH. Compound has its own token called COMP used for various purposes within the platform.

Compound is based in San Francisco, United States.

Categories

Cryptocurrencies, DeFi

Location

San Francisco, North America, United States

Year founded

2017