Compound is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform. It is a decentralized application (DApp) that works by letting users contribute or deposit crypto funds into a liquidity pool in order to earn interest on their assets. Users can currently use 14 different cryptocurrencies and the top three markets in Compound are USD Coin, Dai and Ether. Compound allows users to seamlessly lend, borrow, and earn interest in cryptocurrency. It automates the process of matching lenders and borrowers by combining crypto funds into pools of liquidity. It is a solid DeFi protocol and is competitive in the emerging field of decentralized liquidity yield farming.
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