Review on Compound by Özgün A
Compound dai
In a traditional savings account, you deposit money in the bank and earn interest on that money. The problem is that bank customers cannot use their deposited, interest-bearing money otherwise. So what if you could spend the interest while your savings are still standing? This is an idea that decentralized finance (DeFi) hopes to solve.
Compound is one of the platforms working to provide this service in the world of Defi. Here's an answer to how this Ethereum-based project can help people access their savings.
In the traditional banking system, the money in the deposit account cannot be touched until the maturity period expires, while in the Compound protocol, on the one hand, interest is charged, on the other hand, money locked in the system can be used.
Pros
- reliable
- Easy interface
Cons
- low recognition
