Compound

Compound is a Lending protocol that allows users to lend and borrow cryptocurrencies. It is not a tool for designing protocols as initially thought. The platform can be accessed at .

According to the video Classification of DeFi Projects, Compound falls under the category of Lending projects. It provides a Lending pool where users can lend their assets and earn interest.

One interesting feature of Compound is Yield Farming, which allows users to automatically generate income. By lending their existing coins to Compound, users can receive governance tokens in return. These tokens can then be used to participate in the governance of the protocol.

For example, if a user like So_Saito1102.icon lends 100 ETH to Compound, they will receive C tokens in return. With these C tokens, they can buy 80 ETH or perform other transactions within the Compound ecosystem.

For more information and updates, you can follow Compound on .

If you're interested in a more detailed explanation of DeFi and Compound in cryptocurrency lending, you can check out the video A slightly detailed explanation of DeFi and Compound in cryptocurrency lending | Kanemitsu Midori.