Sign In
Sign Up
DeFinda Logo
Find & Compare DeFi Products
usd logo USD
Home Platforms Compound
Compound reviews

Average rating of 71% based on 6 reviews.

Use anonymously. No KYC required.

Decentralised exchange.

Open source code can be publicly reviewed.

Reviewed by Yunis
7 April 2021 (Updated 23 May 2024)

Compound Crypto Platform

Compound Finance is a San Francisco-based lending protocol built on Ethereum, founded in 2018 by Robert Leshner. As an open-source protocol, it has gained significant traction in the decentralized finance (DeFi) space. The platform operates on the Ethereum blockchain, specifically the EVM (Ethereum Virtual Machine) compatible Compound III protocol. The base asset for Compound III is USDC, a stablecoin pegged to the US dollar.

Compound Finance has garnered support from notable backers and investors, solidifying its position in the industry. The protocol has attracted investments from venture capital firms such as Andreessen Horowitz, Polychain Capital, and Bain Capital Ventures. This support demonstrates the confidence in Compound's vision and its potential to reshape the lending landscape.

The team behind Compound Finance consists of skilled developers and industry experts committed to delivering a secure and efficient protocol. They have collaborated with third-party auditors and consultants to ensure the safety and reliability of the platform. Compound Finance audit reports are shown on the website. Publicly verifiable contract code and balances provide transparency, while a bug bounty program encourages security researchers to identify any potential vulnerabilities.

The services offered by Compound Finance are centered around utilizing crypto assets as collateral for borrowing and earning interest. Users can supply their assets as collateral to the protocol, which in turn allows them to borrow the base asset. This mechanism enables individuals to leverage their crypto holdings without the need to sell them. Users don't need KYC or background check when they borrow cryptocurrency on the platform. Additionally, accounts that supply the base asset can earn interest on their holdings, providing an opportunity to generate passive income.

The web app and user interface of Compound Finance are designed to be user-friendly, particularly for those with an online wallet. To access the platform, users need to transfer their assets into the liquidity pool. Once the funds are deposited, they can start earning interest. The web app provides an intuitive interface for managing collateral, borrowing, and monitoring interest rates. Compound Finance aims to make the crypto lending and borrowing process seamless and accessible to all users.

The protocol has its native token, COMP, which plays a role in the governance of the platform. COMP holders and delegates participate in the governance process, proposing and voting on changes to the protocol. This decentralized governance model empowers the community to shape the future of Compound Finance.

Safety and security are of utmost importance to Compound Finance. The protocol has undergone extensive security audits by reputable firms such as OpenZeppelin and ChainSecurity. These audits help identify and mitigate any potential vulnerabilities. To date, Compound Finance has not experienced any hacking incidents or exploits, further reinforcing its commitment to maintaining a secure environment for users.

In conclusion, Compound Finance is a prominent lending protocol built on Ethereum, founded by Robert Leshner. It operates on the Compound III protocol, allowing users to supply crypto assets as collateral for borrowing and earning interest. With a user-friendly web app, transparent tokenomics, and a strong emphasis on security, Compound Finance has positioned itself as a reliable and trusted platform in the decentralized finance space.

Pros

tick $740,213,211 USD currently invested (TVL)
tick Investments in 19 coin pairs available
tick Supports protocols including Arbitrum, Ethereum and Polygon

Cons

cross Investments in liquidity pools can be higher risk
cross Liquidity pool investments are only suitable for advanced crypto users

Compound Staking Yields

1
Hide Filters
Coin
Clear
Select All
CeFi / DeFi
Chain
Clear
Select All
Term
Clear
Select All
Yield
Clear
TVL
Clear
Token Type
Clear
Select All
Columns
  Product Yield Chain Term Yield Yield Trend TVL TVL Trend
USDC
4.62%*
USDC 2.4% APY
COMP 2.22% APY
Polygon
Instant Access
4.62%*
USDC 2.4% APY
COMP 2.22% APY
$5,913,358
USDT
3.69%
USDT 3.69% APY
Ethereum
Instant Access
3.69%
USDT 3.69% APY
$57,956,074
DAI
3.67%*
DAI 2.88% APY
COMP 0.79% APY
Ethereum
Instant Access
3.67%*
DAI 2.88% APY
COMP 0.79% APY
$71,066,005
USDC
3.54%*
USDC 3.09% APY
COMP 0.45% APY
Ethereum
Instant Access
3.54%*
USDC 3.09% APY
COMP 0.45% APY
$28,797,512
ETH
3.03%*
COMP 1.56% APY
WETH 1.46% APY
Ethereum
Instant Access
3.03%*
COMP 1.56% APY
WETH 1.46% APY
$31,346,748
USDC
2.51%
USDC 2.51% APY
Arbitrum
Instant Access
2.51%
USDC 2.51% APY
$670,070
TUSD
0.82%
TUSD 0.82% APY
Ethereum
Instant Access
0.82%
TUSD 0.82% APY
$870,973
COMP
0.76%
COMP 0.76% APY
Ethereum
Instant Access
0.76%
COMP 0.76% APY
$2,493,663
ZRX
0.62%
ZRX 0.62% APY
Ethereum
Instant Access
0.62%
ZRX 0.62% APY
$1,500,230
USDP
0.45%
USDP 0.45% APY
Ethereum
Instant Access
0.45%
USDP 0.45% APY
$23,365
MKR
0.32%
MKR 0.32% APY
Ethereum
Instant Access
0.32%
MKR 0.32% APY
$375,075
UNI
0.18%
UNI 0.18% APY
Ethereum
Instant Access
0.18%
UNI 0.18% APY
$17,156,505
AAVE
0.08%
AAVE 0.08% APY
Ethereum
Instant Access
0.08%
AAVE 0.08% APY
$736,370
WETH
0.06%
WETH 0.06% APY
Ethereum
Instant Access
0.06%
WETH 0.06% APY
$469,162,594
LINK
0.03%
LINK 0.03% APY
Ethereum
Instant Access
0.03%
LINK 0.03% APY
$2,517,606
WBTC
0.01%
WBTC 0.01% APY
Ethereum
Instant Access
0.01%
WBTC 0.01% APY
$447,315,722
SUSHI
0.01%
SUSHI 0.01% APY
Ethereum
Instant Access
0.01%
SUSHI 0.01% APY
$3,222,177
YFI
< 0.01%
YFI < 0.01% APY
Ethereum
Instant Access
< 0.01%
YFI < 0.01% APY
$291,435
BAT
< 0.01%
BAT < 0.01% APY
Ethereum
Instant Access
< 0.01%
BAT < 0.01% APY
$25,988,076
* Rates are tiered according to deposit size. Hover on rate for further details.
No matching yield products found

Compound Reviews

Based on a total of 6 reviews across the web for Compound we gave the platform an overall rating of 71%.

User Reviews
Overall User Rating
67%
3 reviews 3
Cryptowisser
67%
3 reviews 3
Revain
Add your own review
Leave a Review for Compound
Submit Review

Compound YouTube Reviews

Compound Supported Currencies

Compound supports over 5 currencies including Tether USDt, Chainlink, Uniswap and Wrapped Bitcoin.

Which Crypto Wallets Support Compound?

Compound is supported by 7 crypto wallets including the SafePal S1, the CoolWallet Pro and the DCent D’Cent Biometric Wallet.

Compound Key Data

Company
Decentralised tick Yes
Open source tick Yes
Products
Savings accounts tick Yes
Loans tick Yes
Pro exchange marketplace cross No
Peer to peer exchange cross No
Margin trading cross No
Futures exchange cross No
Security
Know your customer cross No
Credit check cross No
Support
24/7 support cross No

ALooking at reviews from across the web, Compound has an average review score of 71% based on 6 reviews.

Useful Links

Compound Contact Details

https://compound.finance/

Platform Comparisons

Why Compare With Definda?

tick Completely Impartial

We always rank and compare products objectively and impartially.

tick Careful Research

We carefully research products for legitimacy before adding them to the platform.

tick We Never Sell Your Data

We never sell or disclose your data to anyone.

© DeFinda 2024
Share Page Using
Twitter
Email
Whatsapp
Facebook
Reddit
LinkedIn