Compound

Overview of Compound

Compound recently introduced a governance token – COMP (read our tutorial on yield farming & FAQ) – which allows tokenholders and delegates to vote on important protocol decisions like new collateral types, borrowing power, and interest rate models.

Compound words can be written in three ways: as open compounds (spelled as two words, e.g., ice cream), closed compounds (joined to form a single word, e.g., doorknob), or hyphenated compounds (two words joined by a hyphen, e.g., long-term).

Compound’s mission is to allow all crypto holders to easily earn interest on their holdings (as you typically would with fiat currency), instead of letting their assets sit in wallets and exchanges without earning any interest.

Compound looks to change this with its open lending platform, which allows anybody who deposits supported Ethereum tokens to easily earn interest on their balance or take out a secured loan — all in a completely trustless way.

The Compound is not just a restaurant; it comes with a larger sense of community, a footprint in the history and future of Santa Fe, and giving back to those who have made me and this restaurant what we are today.

Compound founder Robert Leshner responded to the critique with a promise that the Compound would eventually become the fully decentralized application the Web3 community had always hoped for.

Compound was founded in 2017 by Robert Leshner and Geoffrey Hayes, both of whom previously worked in high-profile roles at Postmates — an online food delivery service.

Compound 1 is a 2D (4,4) layered structure assembled by sulfate capped triangular [Co3(μ3-OH)(μ3-SO4)] clusters and in situ synthesized μ3-3-ptz ligands.

Compound Finance is a San Francisco based company which raised an $8.2M seed round in May of 2018 and a $25M Series A round in November of 2019.

Compound’s new governance system is well underway, with close to close to 10 proposals being passed since it’s launch.

Blockchain

“Compound is a protocol on the Ethereum blockchain that establishes money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand for the asset.Suppliers (and borrowers) of an asset interact directly with the protocol, earning (and paying) a floating interest rate, without having to negotiate terms such as maturity, interest rate, or collateral with a peer or counterparty.”

Mine

COMP is the governance token of the Compound protocol and a predetermined amount is distributed to all lenders and borrowers on the Compound protocol every day.COMP distributions happen every time an Ethereum block is mined (every 15 seconds) in an amount proportional to the interest accrued by each asset.Governance of Compound through the COMP token aims to remove a significant, centralized, single point of failure: the Compound team.

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Can compound interest make you rich?

Yes.In fact, compound interest is arguably the most powerful force for generating wealth ever conceived.There are records of merchants, lenders, and various business-people using compound interest to become rich for literally thousands of years.In the ancient city of Babylon, for example, clay tablets were used over 4,000 years ago to instruct students on the mathematics of compound interest.

Competitors – Is Compound Finance Safe?

Compound has undergone a number of security audits by reputable agencies like Open Zeppelin and Trail of Bits, all of which have been publicly disclosed.Compound has undergone a number of security audits by reputable agencies like Open Zeppelin and Trail of Bits, all of which have been publicly disclosed.

Did you know?

Compound raised $25 million in its Series A funding round, which was led by prominent venture capital firm Andreesen Horowitz.The protocol also received $1 million in USDC from Coinbase’s “USDC Bootstrap Fund.

How are cTokens produced?

New cTokens are created whenever a user deposits crypto-assets into the Compound protocol.If users want to take out a loan using ETH as collateral, they automatically receive cETH in return for their deposited ETH.If users want to use USDC to earn interest, they receive cUSDC when they deposit USDC into the system.

How can I access the Open Price Feed?

Any developer or application can contribute to the Open Price Feed by being a Reporter, Poster, or even by configuring their own View Contract for themselves or others to use.The Open Price Feed is designed to be a foundation that anybody can build on, extend, and improve.The number of Reporters, Posters, and Views can scale over time, as the ecosystem develops.Head to our Developer Docs for more information.

How Can I Plan for Retirement?

A concrete investment plan to can help keep you on track.

How do you get hold of cTokens?

Anyone can mint or create cTokens using an Ethereum wallet such as MetaMask, Coinbase wallet, or Huobi wallet plus one of the crypto assets the Compound system currently accepts.As of December 2019, users of Compound could borrow or lend BAT, DAI, ETH, REP, USDC, WBTC, and ZRX.

How does Compound Finance work?

For example, if you deposit ETH into Compound, it's converted to cETH.If you deposit the stablecoin DAI, it's converted to cDAI.If you deposit multiple coins, they'll each earn interest based on their individual interest rates.In other words, cDAI will earn the cDAI interest rate, and cETH will earn the cETH interest rate.

How does Compound's governance work?

As such, token holders can make changes to the protocol through improvement proposals and on-chain voting.Each token represents one vote, and holders can vote on proposals with their token holdings.In the future, the protocol may be completely governed by COMP token holders.

How Does CompoundWork?

Compound leverages web 3.Compound leverages web 3.0 wallets such as Metamask, Argent, or Coinbase Wallet for access.0 wallets such as Metamask, Argent, or Coinbase Wallet for access.Once connected, users are brought to the Account Overview section.Once connected, users are brought to the Account Overview section.From here, users can select any asset(s) and unlock the market they wish to interact with.From here, users can select any asset(s) and unlock the market they wish to interact with.After an asset has been enabled, users are then able to supply or borrow said assets.After an asset has been enabled, users are then able to supply or borrow said assets.

How Is the Compound Network Secured?

Everything on Compound is handled automatically by smart contracts, which act to mint cTokens after Ethereum and ERC20 assets are deposited, and allow Compound users to redeem their stake using their cTokens.

How Many Compound (COMP) Coins Are There in Circulation?

Like many digital assets, only a fixed number of COMP tokens will ever come into existence.The total supply is capped at 10 million COMP and as of writing, less than a third are in circulation (~3.3 million).

How to use Compound?

The best place to use Compound is the native interface.Just enable any asset to start supplying or borrowing it.You can also check your balance and current interest rates.

Is pure substance an element?

A component is a single material that can not be divided into various types of substances.Carbon, oxygen, hydrogen, gold, silver and iron are examples of elements.Every element consists of just one atom form.

What are Reporters?

Reporters can be exchanges, DeFi projects, applications, OTC trading desks, hobbyists, etc.— basically, anybody with access to price data.Reporters sign a message with a private key and make this signed data available to the public.

What are the Elements?

We can define elements as a species of atoms that have the same number of protons in their atomic nuclei.Although an element’s atoms have the same number of protons, they can have different numbers of neutrons and hence different masses.

What are the two classifications of mixtures?

Two major groups can be divided into mixtures: homogeneous and heterogeneous.A homogeneous mixture is one in which the entire composition of its elements is combined evenly.

What are View Contracts?

View contracts are any combination of Reporters compiled into a single view.For example, The Compound protocol uses a View Contract which incorporates a single Reporter (Coinbase Pro), with an anchoring mechanism inside the View.With enough reporters (approved through Governance), a median price can be used, without relying on an anchor.In the meantime, we believe Coinbase prices anchored by Uniswap to be a robust data source.

What can you do with Compound?

Besides earning interest on your crypto assets, which is a fairly straightforward process of depositing crypto assets on the platform and receiving cTokens, you can also borrow crypto on Compound.Borrowing crypto assets has the added step of making sure the value of your collateral stays above a minimum amount relative to your loan.If the value of your collateral drops too far, you risk getting liquidated – having your collateral automatically sold to repay your loan.

What does compound mean?

A compound is a material formed by chemically bonding two or more chemical elements.The type of bond keeping elements in a compound together may vary: covalent bonds and ionic bonds are two common types.The elements are always present in fixed ratios in any compound.

What else is different?

When user’s locked assets are converted into ERC20 form, they become freely movable, tradeable, and usable in other decentralized applications (dapps).The use of cTokens represents a fundamental feature of the DeFi movement–the ability to combine different protocols as different building blocks – called money legos.

What is a Compound?

When two or more elements chemically combine in a fixed ratio by mass, the obtained product is known as a compound.Compounds can be defined as substances consisting of 2 or more different types of elements in a fixed ratio of its atoms.When the elements combine, some individual property of the elements is lost and the newly formed compound has new properties.

What Is a Compound?

Now it’s time to look at compounds.Remember how compounds are molecules? Here is why.A compound is created when atoms of two different elements combine.You still have two atoms combining together, so it’s definitely a molecule.But for it to be a compound, those elements must be different.

What Is a Molecule?

To understand molecules, it’s important to first clear up atoms.Atoms are these fun structures with electrons, neutrons, and protons in them.Electrons and protons have a negative and positive charge respectively.

What is a simple definition of compound interest?

Compound interest refers to the phenomenon whereby the interest associated with a bank account, loan, or investment increases exponentially—rather than linearly—over time.The key to understanding the concept is the word “compound.” Suppose you make a $100 investment in a business that pays you a 10% dividend every year.You have the choice of either pocketing those dividend payments as cash, or reinvesting those payments into additional shares.If you choose the second option, reinvesting the dividends and compounding them together with your initial $100 investment, then the returns you generate will start to grow over time.

What is an atom element compound and mixture?

The same number of protons and electrons would be found in a single atom and most atoms contain at least as many neutrons as protons.An element is a material completely formed from one form of atom.A composite is a material consisting of chemically connected two or more separate elements.

What is an example of a compound?

A compound is a material composed of two or more components.Water, carbon dioxide and table salt are some examples of compounds.

What Is Compound (COMP)?

Compound is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform.

What is Compound Finance?

Why is Compound useful? Well, suppliers and borrowers don't have to negotiate the terms as they would in a more traditional setting.Both sides interact directly with the protocol, which handles the collateral and interest rates.No counterparties hold funds, as the assets are held in smart contracts called liquidity pools.

What Is Compound Interest?

Compound interest (or compounding interest) is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.Thought to have originated in 17th-century Italy, compound interest can be thought of as “interest on interest,” and will make a sum grow at a faster rate than simple interest, which is calculated only on the principal amount.

What is Compound?

Like most Decentralized Finance (DeFi) protocols, Compound is a system of openly accessible smart contracts built on Ethereum.Compound focuses on allowing borrowers to take out loans and lenders to provide loans by locking their crypto assets into the protocol.The interest rates paid and received by borrowers and lenders are determined by the supply and demand of each crypto asset.Interest rates are generated with every block mined.Loans can be paid back and locked assets can be withdrawn at any time.

What is Compound?

Compound is an algorithmic money market protocol on Ethereum that lets users earn interest or borrow assets against collateral.Anyone can supply assets to Compound’s liquidity pool and immediately begin earning continuously-compounding interest.Rates adjust automatically based on supply and demand.Supplied asset balances are represented by cTokens: representations of the underlying asset that earn interest and serve as collateral.Users can borrow up to 50-75% of their cTokens’ value, depending on the quality of the underlying asset.Users can add or remove funds at any time, but if their debt becomes undercollateralized, anyone can liquidate; a 5% discount on liquidated assets serves as incentive for liquidators.The Compound protocol sets aside 10% of interest paid as reserves; the rest goes to suppliers.Compound initially launched on mainnet in September 2018 and upgraded to v2 in May 2019.The protocol now supports BAT, DAI, SAI, ETH, REP, USDC, WBTC, and ZRX.Compound has been audited and formally verified.As of May 2020, Compound has transitioned to community governance; COMP token-holders and their delegates debate, propose, and vote on all changes to Compound.

What is the classification of compounds?

There are two basic groups of compounds.We are characterized by the way the atoms in the compound bind to each other.Such two types are called “molecular” and “salt” compounds.

What is the difference between an element a compound and a mixture?

A material that only consists of one form of atom.Compound: A material which consists of more than one form of bonded atom.Mixture: a blend of two or more unbounded components or compounds; each component of the mixture preserves its own properties.

What is the meaning of the term element?

A material that can not be separated by chemical means into simpler substances.Each element consists of atoms with the same atomic number, that is, each atom has in its nucleus the same number of protons as all other atoms of that element.

What is the Open Price Feed?

The Open Price Feed is a decentralized price oracle built on Ethereum.It’s made up of Reporters, Posters, and a View to read accepted prices.Anyone with access to reliable price data can post and store their price data on-chain.Any developer can configure a View Contract to their liking, however, the Reporters in the Compound View Contract may only be approved through Compound Governance.

What Makes Compound Unique?

According to Compound, the majority of cryptocurrencies sit idle on exchange platforms, doing nothing for their holders.Compound looks to change this with its open lending platform, which allows anybody who deposits supported Ethereum tokens to easily earn interest on their balance or take out a secured loan — all in a completely trustless way.

What’s so special about it?

On the surface, Compound resembles other decentralized lending protocols in that it uses crypto assets as collateral to borrow more crypto assets.Where Compound stands out is the tokenization of the assets locked in their system through the use of cTokens.

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Where Can You Buy Compound (COMP)?

COMP is currently available to trade on hundreds of cryptocurrency exchange platforms, including Coinbase Pro, Binance and Huobi Global.It can be traded against most other popular cryptocurrencies, as well as a range of fiat currencies, including the U.S.dollar (USD), Indian rupee (INR) and Australian dollar (AUD).

Who Are the Founders of Compound?

Compound was founded in 2017 by Robert Leshner and Geoffrey Hayes, both of whom previously worked in high-profile roles at Postmates — an online food delivery service.The two continue to hold executive positions at Compound Labs, Inc — the software development firm behind the Compound protocol, with Leshner currently serving as CEO, while Hayes is the CTO.

Who benefits from compound interest?

Simply put, compound interest benefits investors, but the meaning of “investors” can be quite broad.Banks, for instance, benefit from compound interest when they lend money and reinvest the interest they receive into giving out additional loans.Depositors also benefit from compound interest when they receive interest on their bank accounts, bonds, or other investments.It is important to note that although the term “compound interest” includes the word “interest,” the concept applies beyond situations where the word interest is typically used, such as bank accounts and loans.

Who Invented Compound?

Robert Leshner, a former economist, is the founder and CEO of Compound.

History of Compound

In 1965, Kusama created the world’s first mirrored-room environment at Castellane Gallery.

In 1992 Hurricane Andrew caused some 50 deaths and considerable property damage to areas of the county just south of Miami, although the city itself was largely spared.

In 2018 Coinbase launched their independent mobile wallet for iOS and Android investor protection in your or.

In 2018 Coinbase launched their independent mobile wallet for iOS and Android.