DeFi (decentralized finance) has emerged as the hottest crypto trend of the year, with the total amount of US dollars locked in decentralized finance protocols surpassing USD 9bn on September 1 before correcting lower.
In our new “DeFi Unlocked” series, we will introduce you to the different ways you can earn investment income in the booming decentralized finance market.
In part one of our DeFi series, you will discover how to earn interest on cryptoassets by placing them into the Compound (COMP) money market protocol.
What is Compound Finance?
Compound is an autonomous, open-source interest rate protocol that allows cryptoasset users to borrow and lend digital assets on the Ethereum (ETH) blockchain.
Compound supports BAT, DAI, ETH, USDC, USDT, WBTC, ...