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 cryptocurrency investors which allows users to borrow and lend digital assets.
Price:
$52.98
Mkt Cap:
$387,753,454
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.
- In August 2022 Compound announced a fresh new upgrade for DeFi users focussing on capital efficiency, and improved user experience.
- In September 2022 Compound announced it will offer stablecoin loans to institutions, with BTC, ETH, and other ERC-20 assets accepted as collateral.
- In October 2022, Compound Finance approved “proposal-131,” which will prevent users from lending illiquid assets in an attempt to protect the protocol against market manipulation.
Technical Analysis
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Fantom (FTM)
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Polygon (MATIC)
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Cosmos (ATOM)
Cosmos is an interoperability platform operating as a “decentralised network of independent parallel blockchains"
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Bitcoin (BTC)
Bitcoin is synonymous with cryptocurrency itself and has always been the largest by market capitalisation.
