A new trend called DeFi / Dcentralized Finance has revitalized the virtual asset market, the operation of traditional financial instruments on the blockchain does without the involvement of external regulators.
It is no secret that over two hundred billion dollars have been invested in the crypto industry, the turnover on the exchanges is large, and a huge part of the crypto assets are idle and do not bring income to investors. The developers (the idea of ??the platform was implemented by Robert Leschner and Jeff Hayes) Compound opened a landing platform based on Ethereum in 2018. Now, thanks to this protocol, private users, developers, and applications can earn interest in cryptocurrency without involving third parties. Also, they can borrow cryptocurrency through several interest rate markets. The Compound blockchain project is unique. The farming of COMP tokens has become a popular way of earning money, and holders of COMP tokens have the exclusive right to propose changes in the protocol and vote on these issues.
The platform supports several crypto assets, for example, Wrapped BTC (wBTC), Basic Attention Token (BAT), 0x (ZRX).
The COINBASE Pro exchange is the main investor partner of the Compound landing platform: you can trade for the token on Binance, Coinbase Pro, OKex, KuCoin. In these markets, 50% of the distribution goes to suppliers and 50% to borrowers.
According to analytics service DeFi Pulse, Comp coin is among the leaders among decentralized financial applications. The market capitalization of the project is $ 985,000.
How to work with Comp coin
A network participant gives away his assets at interest, or he can lend a cryptocurrency. Interest rates are regulated by the market based on supply and demand in real-time. The greater the demand for the Comp coin token, the higher the earnings.
A deposit to Comp coin is made through the connection of a crypto-wallet with Ethereum support for any of the supported crypto-assets by the service itself. On the control panel, select the cryptocurrency for depositing on the platform, and invest in COMP tokens.
Every 15 seconds, your balance will increase by (1/2102400) of the specified percentage, that is, for each Ethereum block, Profit is automatically transferred to the investor's wallet from 0.001 COMP.
It is interesting that those who borrow tokens on the platform do not work directly with their lenders, but receive borrowed funds from the general financial pool. There are no predetermined loan terms, you can withdraw money or repay it at any time.
Advantages and disadvantages of Comp coin currency
You can work with tokens from any country, the platform is backed up by the support of strong investment pools, other projects are created based on DeFi, backing up with detailed documentation and API regulation using smart contracts, automatic withdrawal of interest rates, accrual of Comp coin tokens for any actions on the platform.
The amount of profit is lower than when working with other cryptocurrencies, the platform is backed by the support of strong investment pools, other projects are being created based on DeFi
