Compound is a blockchain protocol running on Ethereum. It is based on DeFi or decentralized finance. The platform allows its users to borrow or loan money while their crypto investments are locked into the Compound protocol, thereby incentivizing and allowing a distributed computer network to function like a traditional money market.More
Compound has lending pools where users deposit their cryptocurrency, which, in turn is accessed by other users who want to borrow. The deposited crypto earns interest and lenders are awarded with a cToken to represent the deposit, which users can trade or transfer, and withdraw anytime they want to.More
Compound incentivizes its process and rewards users with COMP, its native token. COMP is easy to find and purchase, especially if you have signed up with Coinmerce, a crypto exchange network that allows you to buy the Compound token via credit card or whichever payment method you prefer.More
You want to buy Compound? You can buy Compound using Creditcard or SEPA at Coinmerce. Once you are logged in, you will see "Coins" in the top menu where you click on. Now you come to a page with all crypto coins that Coinmerce offers. If you don't see Compound, use the search function to search for Compound and click on the name. You can indicate for how many euros you want to buy Compound in the right window. Below is shown how much Compound you get for this. Have you entered the correct amount? Then click on "Buy". You can also execute a "Stop limit order" at Coinmerce. Our system will automatically buy Compound when the price of Compound reaches your entered value. You can also execute a repeating order. Do you want to buy Compound with another crypto currency? Then you go to the cryptocurrency you want to pay with and click on "Swap" in the right window to indicate that you want to receive Compound.
Compound uses smart contracts. As such, it enables automatic management and storage of capital (which in this case are cryptocurrencies). Additionally, it is permissionless, which means users only need a stable internet connection and a crypto wallet, and they are free to interact with the platform. A former economist by the name of Robert Leshner is acknowledged as the founder of Compound. He also serves as the CEO. He founded the platform in September 2018 with the goal of encouraging users to put their funds to good use. The COMP token was introduced as an ERC-20 token in 2018, when it was entered into the Ethereum blockchain. It is Compound’s native token and also offers governance privileges to its holders. As such, users are allowed to propose and vote on improvement and upgrade initiatives for the protocol. San Francisco-based Compound Labs, Inc is the company that supports Compound.