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COMP - New hyped DeFi protocol, farming APY

Lending protocol Compound token, , currently trading at $352 after steady growth within three days from time COMP-ETH pair began trading on Uniswap.

What's the deal and how to get it?

Compound is an algorithmic money market protocol on Ethereum that lets users earn interest or borrow assets against collateral

can be earned proportionate to the interest being accrued.
For example, if you convert your USDT into cUSDT, each day you will get an interest based on the current market supply (can be found on the compound website, supply annual percentage yield (APY)).

The biggest member APY right now is for : 25.45%; for USDT it's 0.1%.

Available markets: USDT, DAI, USDC, WBTC, BAT, ZRX, REP, ETH

But don't get caught long top, it has already grown by 140%.

Hit the "LIKE" button and follow to support, thank you.

Information is just for educational purposes, never financial advice. Always do your own research.

노트

As expected, it was a local top. Btw, negative funding on FTX is still quite high, so it may be worth to long COMP-PERP if you want an exposure.