Tether Yields Surge on Compound Following COMP Token Launch

Tether Yields Surge on Compound Following COMP Token Launch
фото показано с : cryptobriefing.com

2020-6-17 12:00

Tether lenders are yielding over 7%, and borrowers are paying over 14% on Compound, as the protocol launches its governance token, COMP.

Compound Use Surging

Compound usage has surged over the past two days, with the total locked value up from around $90 million to $140 million. 

Courtesy DeFi Pulse, Total Locked Value on Compound

The dramatic uptrend comes as the platform launches its governance token, COMP.

Compound’s governance tokens began trading on Monday on Uniswap for $62. COMP tokens mark the protocol’s first steps towards decentralization, with token holders and their delegates able to “debate, propose, and vote on all changes to Compound.” 

All Compound protocol users are now receiving $COMP – marking the beginning of community governance.

🔍 Track the distribution: https://t.co/vCejHiO6ZO
⚖️ Vote, or delegate your tokens: https://t.co/En6tOQffeo
📈 Climb the leaderboard: https://t.co/AzfY5Ylicv

— Compound (@compoundfinance) June 15, 2020

According to the distribution schedule, the protocol will distribute just under 3,000 COMP tokens a day into the eight Compound lending markets. Users will earn COMP in proportion to their Compound balance.

As Robert Leshner, the Compound protocol founder said:

“The individuals, applications and institutions that use the Compound protocol are capable of collectively stewarding it into the future — and are incentivized to provide good governance.”

Tether Interest Rates Jump

Tether interest rates on the Compound protocol are the highest in DeFi, with lenders yielding around 7% and borrowers paying roughly 15%.

That compares to borrowing rates of 8% on Fulcrum. The cost of USDT only three days ago on Compound was approaching 20%.

Courtesy Compound, USDT Borrow Rates

Compound is currently the third-ranked protocol in the DeFi ecosystem, according to DeFi Pulse.

The post Tether Yields Surge on Compound Following COMP Token Launch appeared first on Crypto Briefing.

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Compound Coin (COMP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 53.732b COMP

compound comp tether token launch surge following

Источник: cryptobriefing.com

compound comp → Результатов: 8


Фото:

Compound передаст рычаги управления DeFi-сервисом сообществу

Стартап из Сан-Франциско Compound, разработавший одноименный DeFi-протокол, передаст контроль над управлением от администраторов держателям голосующих токенов COMP. We’re extremely proud to announce that community governance has replaced the administrator of the Compound protocol.

2020-4-19 19:11


Compound Protocol Moves Towards Decentralization With COMP Governance Token Launch

Compound is setting its project to a decentralized governance system as it experiments with a testnet launched on Wednesday. The Open Finance backed startup is looking to grant its users the power to propose and vote for implementations to occur on the platform without requiring permissions from the compound team. A tokenization process will be […]

2020-2-27 00:22


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