Compound (CMP/USD)
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Compound is a decentralised algorithmic DeFi protocol based on the Ethereum ecosystem. This protocol provides access to the crypto-loan market, where the system sets interest rates. It's a tool that lets anyone loan their coins by placing them in a special pool of offers or borrow missing funds with interest.
The system has its own Compound token, CMPUSD, which is compatible with the ERC-20 standard. Compound was created to decentralise protocol management.
The protocol was created by Compound Labs in San Francisco. The following venture giants invested in the startup: Andreessen Horowitz, Coinbase Ventures, Paradigm and Polychain Capital. The first version of Compound was released in September 2018.
Opportunities for traders
As of now, Compound ranks 3rd among decentralised financial apps by capitalisation, with a $127 million market cap that puts the token in the Top 50 among all cryptocurrencies on Coinmarketcap.
From 4 August to 12 August 2020, Compound rose 120% in price. Its average intraday volatility is 15.4%.
How to buy and sell CMPUSD
You can buy and sell CFDs for CMPUSD through a broker or a trading platform, such as MetaTrader 4 or Libertex, where leverage can be used, and you can trade if the cryptocurrency's value goes down or up.
From 4 August to 12 August 2020, Compound rose 120% in price. Its average intraday volatility is 15.4%.