Review on Compound by erdi yılmaz

Name: Compound
Item: Compound
Rating: 4

April 04, 2021

Compound

Compound is a decentralized exchange that offers crypto loans and deposit account creation services through smart contracts.

It offers the opportunity to get loans and invest with interest rates determined instantly according to the demand and supply of cryptocurrencies. Since it provides this service decentrally, it does not incur costs such as file expenses of banks.

CTokens earned against cryptocurrencies locked on the Compound platform provide the opportunity to use the money until the lockout period is over.

At the end of the maturity period, interest income is collected at the initial percentage determined in return for the remaining cTokens.

Thanks to Compound, crypto assets can be used for investment purposes to generate interest income and continue to be spent.
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Pros

offers free borrowing or lending services
The algorithm used by the platform calculates a new interest percentage every 15 seconds.
Transactions with a volume of more than 100 million dollars per day continue to be processed on the compound platform. More than $ 12 billion has been supplied on the platform, and more than $ 5 billion has been loaned. It has a very active structure.

Cons