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Meet Compound (COMP), the great new DeFi protocol for Ethereum

August 27, 2020

With the emergence of cryptocurrencies and the impact they have had with Bitcoin since their appearance in 2009, There are many technological tools and applications that have since evolved to use new technologies and cryptocurrencies to decentralize financial exchanges.

With this in mind, Compound was founded in 2017 in San Francisco by Robert Leshner and Geoff Hayes, a complete platform that is considering an open cryptocurrency protocol that allows you to create stock exchange financial markets with interest rates based on your wealth.to make the traditional methods of these markets independent and at the same time to improve the interaction between the members of them.

This system is one of the most developed in our time and an example of this is that for the month of May 2018 was able to collect around 8 million US dollars in one financing round, led by global cryptocurrency investment funds such as Coinbase, Polychain Capital, Andreessen Horowitz, Bain Capital Ventures, Transmedia Capital, Abstract Ventures and Danhua Capital. What served Boom to advance the full development of the project and bring it to the level it is currently considering where it is already. presents version number two of it.

Meet Compound (COMP), the great new DeFi protocol for EthereumMeet Compound (COMP), the great new DeFi protocol for Ethereum

Since this great tool came out and launched, there have been many benefits that it has brought with it. It is based on a decentralized operation where the interaction with the algorithm allows the setting of profit parameters based on the reality of the market within a time frame of seconds as it is updated repeatedly. Its advantages are many in terms of interest rates and it guarantees the best protection of the funds it contains.

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