Review on Compound by francis fernandez
Compound Dai: a blockchain for loan management under a digital platform
Compound Dai is a platform for requesting and processing token loans, which operates on the Ethereum chain using an interest established based on supply and demand.
Token:
The native token of the platform is COMP and is used on the network to boost loan management operations and obtain interest in return.
COMP acquired relevant utility in decentralized finance operations used under the Ethereum network.
Utilities and features:
The platform is part of a broad ecosystem that includes utility applications for tax management and calculation, custody and monitoring of tokens and wallets, asset management:
• Offers tools like tax calculators.
• Allows you to track wallets.
• Composite governance management.
• Its platform is dynamic and easily accessible.
• Allows managing assets between exchange platforms, wallets and compounds.
• Its token allows important functions in decentralized financial organizations
Network security:
The network employs a set of security protocols to achieve a highly reliable digital platform. This includes:
• Security audit through: OpenZeppelin and Trail of Bits.
• Formal validation of infrastructure.
• Evaluation of market economic risk.
Partners and sponsors:
The network has important allies for the optimization of its services, among these are: Polychain capital, Coinbase, Paradigm, a16z, among others
Pros
- It is a decentralized network and autonomous governance
- Allows users to get rewards in exchange for reliable credits.
- Its token is widely compatible and accepted in the market due to the Ethereum chain
Cons
- There are no disadvantages in its use.
