Compound (Comp) Took The Crypto Market By Storm, But Is There More To It?

Compound (Comp) Took The Crypto Market By Storm, But Is There More To It?
фото показано с : zycrypto.com

2020-7-15 11:33

Compound, a decentralized lending application on the Ethereum blockchain is now the “hot shot” in the crypto world. COMP, the governance token of Compound was launched on June 16 and only took just one day for it to bag the first place in the decentralized finance space.

None of the crypto experts believed or even predicted gains of such pace for the token. It was just another DeFi token trying to compete for a spot on the crypto ladder. Comp’s historic feat, marked the first time another project on the Ethereum blockchain had dethroned Maker (MKR) from the first position ever since the DeFi project began.

Weeks before its historic feat, the total value locked (TVL) on compound, after it was released to investors of the decentralized lending platform, broke the $200 million barrier for the first time, currently sitting at $750 million, a new all-time high.

Over 10% of the total supply of Circle and Coinbase’s stablecoin, USDC, is currently locked on Compound. The total amount of tether (USDT) on Compound has also shot up to almost 8,000% since July 11, 2020. The digital token continued its impressive run and on June 21, gained over 143% in value, trading at $165.

Comp’s performance this year earned it a listing on Coinbase, one of the biggest online cryptocurrency trading platform. This marked the second time Compound and Coinbase was jumping into business, as the digital token was one of the earliest DeFi projects to receive an $8 million funding from Coinbase Ventures. Comp’s price however fell from highs of $427 to below $250, just days after the announcement. A sudden announcement from Binance, about listing the token, saw its price gain a 25% rise within days.

Comp is being tipped by experts to dominate the DeFi space as well as the crypto market in general. Its Compound Protocol allows anyone to borrow or supply Ethereum tokens through a decentralized system Compound (COMP).

Individuals who choose to supply Ethereum tokens through Compound Protocol earn commissions on every token. Comp’s “potential claim on future interest paid” has made it valuable as more lenders and borrowers are hopping onto the DeFi token. Comp is now attractive than traditional shares because of its programmable feature as well as the option to participate in its governance.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Compound Coin (COMP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 9.24E-5 (-100%)

compound crypto decentralized comp took day only

Источник: zycrypto.com

compound crypto → Результатов: 65


Celsius to Implement Compounding Interest on Cryptocurrencies Deposited in Its Wallet

Borrowing and crypto lending platform Celsius's Founder, Alex Mashinsky announced, that starting February 1st, they will begin applying compound interest for their customer's wallets. https://t. co/6taHtJ5jeF — Celsius Network (@CelsiusNetwork) January 22, 2020 The news came in a Twitter AMA (Ask Me Anything), with some other updates also mentioned.

2020-1-25 00:38


DeFi-сервис Compound привлек $25 млн от крупных венчуров

Стартап из Сан-Франциско Compound, разработавший одноименный DeFi-протокол, привлек $25 млн в раунде финансирования Серии А, который возглавила фирма Andreessen Horowitz. Crypto news: Compound raises $25M from @a16z, plans to bring lending to consumer exchanges and wallets.

2019-11-14 22:09


Compound Finance Founder Combines Investments with Bain Capital and Ripple’s Xpring in “Scout Fund”

The cryptocurrency community has been waiting for the slew of institutional investors to enter the market, which is why so many developers are creating products that are geared towards them. As new companies enter the market, these companies need support, which is where Robert Leshner comes in. Leshner, the founder of the Compound Finance crypto […]

2019-4-10 22:28


Are Bitcoin and Ethereum Cryptocurrency Compound Interest Rate Earnings a Gamechanger?

Despite the price of premier alt-tokens such as Bitcoin still struggling to garner bullish momentum, crypto lending platform BlockFi has just announced that it will be now providing clients with the option to claim compound interest returns on investments via crypto assets such as Bitcoin or Ethereum. As per a blog post issued by BlockFi’s […]

2019-3-7 18:29


A New Bitcoin ETF Hopeful is Many Moons Away, But You Don’t Have to Wait for Bitcoin Interest Accounts Now

The dream of cryptocurrencies replacing bank just got a step closer. This Tuesday BlockFi has launched a crypto deposit account that provides compound interest. The BlockFi Interest Account (BIA) is now live and gives customers an annual interest rate of 6 percent, paid on a monthly basis in cryptocurrency. That monthly interest is then compounded […]

2019-3-7 18:19


дальше еще 16 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Haven Protocol Token (XHV) crashes after mint exploit

Haven Protocol suffered a mint exploit, with over 500 million XHV tokens minted illicitly, The hack has sent the price of the XHV token down by over 60%. Hacker(s) exploited a vulnerability in the range proof validation code, introduced during the Haven 3.

GRVT becomes world’s first regulated DEX after licensing in Bermuda

GRVT has secured Bermuda’s Class M license, becoming the first regulated DEX globally. GRVT combines 600,000 TPS with compliance, aiming to be the “Goldman Sachs on blockchain. ” GRVT plans global expansion, aligning with MiCA and ADGM for broader regulatory approval.