Compound (COMP), a notable name in the Decentralized Finance (DeFi) sector, is a money market protocol based on the Ethereum platform. Compound lets lenders and borrowers exchange loans between each other using interest rates set by supply and demand data in real-time. By lending their crypto as collateral for borrowers, lenders earn interest. Everything is managed using smart contracts to guarantee that the lender is never giving up control of the assets to any third-party intermediaries.
The COMP price on YouHodler is aggregated from several different cryptocurrency exchanges in an attempt to provide the most accurate price possible. YouHodler combines Compound price rates from Binance, Kraken, Huobi, OKEx, and others.
To monitor COMP prices efficiently, we recommend downloading our app for iOS and Android compatible smartphones. This allows you to follow the latest COMP price anytime, anywhere. For real.
The COMP price constantly changes, however, our interest rates are stable as ever. Since 2020, our COMP savings account has featured 2.5% APR + compounding interest. Much higher and more stable than your local bank.
There are many useful scenarios for a crypto-backed loan. Use it to hedge your portfolio in the event of a COMP price drop or simply use the growing value of your COMP price as collateral for instant cash. Either way, don’t sell your COMP. HODL and profit.
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