March 6, 2023
Tron (TRX)
Tron is a proof of stake cryptocurrency that has been built on the Tron blockchain network.
Bright Ideas: Compound (COMP)
Compound is a decentralized marketplace for crypto investors which offers functionalities for lending and borrowing digital assets.
Price:
$51.37
Mkt Cap:
$372,268,114
View Coin Page
Project Fundamentals
- Compound (COMP) is a DeFi lending protocol founded in 2017 by Robert Leshner and Geoffrey Hayes, that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform.
- To set the interest rate, Compound acts kind of like the Fed. It analyzes supply and demand for a particular crypto asset to set a fluctuating interest rate that adjusts as market conditions change.
- The interest you earn is denominated in the same token that you lent.
Partnerships / Implementation
- Compound is continuing the develop and scale at extreme pace, as it has become the first-ever investment by crypto exchange Coinbase’s new venture fund.
- Compound has also created strategic partnerships with a core group of 26 funds which include high frequency trading firms, market makers and multi-strategy hedge funds.
- It is also part of an $8.2 million seed round led by some top-tier venture capital firms including Andreessen Horowitz, Polychain Capital and Bain Capital Ventures.
Roadmap and Announcements
- Compound have three particular goals they plan to achieve, these being encouraging each asset to have its collateral facto, achieving the status of smoothly operated Decentralized Autonomous Organization, and facilitating multiple asset DeFi systems.
- Compound’s goal is to transition to a fully decentralized autonomous organization (DAO), with network control distributed entirely across the COMP stakeholder population.
- Currently Compound only deals in cryptocurrencies through the Ethereum blockchain, however has plans to carry tokenized versions of real-world assets such as the dollar, euro, yen or stocks.
- Via Twitter 26/7/22 @CoinbaseWallet: Meet Compound, a DeFi dapp where you can earn APY rewards and leverage your crypto as collateral by lending it out to liquidity pools.
Technical Analysis
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Bitcoin (BTC)
Bitcoin is synonymous with cryptocurrency itself and has always been the largest by market capitalisation.
