Review on Compound Dai by Umut Can
Presentation about Compound Dai
First of all, I will tell you about the compound protocol. Decentralized application that runs on ethereum and provides lending service for ethereum-based tokenized assets and tokens. It is a platform that makes interest payments on each ethereum block, automatically determines the interest rate according to the supply and demand, and also can work even if it is connected to a different interface thanks to its integration with most defi applications.
It is the protocol that supports dai and usdc.
Compound allows its users to withdraw loans in exchange for the crypto money they send. Likewise, it enables those who want to lend to earn interest income. In this way, it brings together those who want to get credit and those who want to give credit.
Pros
- Promotes trade
Cons
- It is feeling the effects of incurring losses of Defense project
