Compound (CDAI) offers cDAI, allowing users to earn interest on DAI while maintaining liquidity. More
| Fully Diluted Valuation | $26.53M |
|---|---|
| 24H Trading Volume | $1,275 |
| 24H Low / High | $0.02 / $ 0.02 |
| Circulating Supply | 1.07 B |
| Total Supply | 1.07 B |
| Max Supply | 0.00 |
| Categories | Compound Tokens 2 more |
|---|---|
| Founder | Robert Leshner 1 more |
| Website | compound.finance |
| Socials | |
| Chains | Ethereum Ecosystem |
| Explorer | Etherscan 2 more |
| Contracts |
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| Name | Pair | OG Score |
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Understanding cDAI (Compound DAI): A Gateway to DeFi Yield
cDAI, or Compound DAI, is a decentralized finance (DeFi) asset that represents a user's interest in the Compound protocol's DAI market. This unique token allows individuals to earn interest on their DAI holdings while retaining the ability to trade or use their assets at any time.
How cDAI Works
When users deposit DAI into the Compound protocol, they receive an equivalent amount of cDAI tokens in return. These tokens represent the user's share in the DAI market and continuously accrue interest based on the market's supply and demand dynamics. Users can redeem their cDAI tokens for the underlying DAI plus any interest earned at any time.
Key Features of cDAI
Interest Earning: Users can earn interest on their DAI holdings through the Compound protocol, with interest rates determined algorithmically.
Liquidity: cDAI tokens are liquid and can be traded or transferred like any other ERC-20 token, providing users with flexibility.
Decentralization: Compound operates as a decentralized protocol, with transactions executed on the Ethereum blockchain via smart contracts.
Transparency: The Compound protocol is transparent, allowing users to verify all transactions and operations on the blockchain.
Governance: Compound has a governance system that enables token holders to propose and vote on changes to the protocol, giving the community a voice.
Safety: Compound prioritizes security, with regular audits and updates to protect user funds.
Compatibility: cDAI is an ERC-20 token, making it compatible with various DeFi applications and wallets.
Founders and Backers
Compound was founded in 2017 by Robert Leshner and Geoffrey Hayes. The protocol has garnered support from prominent investors such as Andreessen Horowitz, Polychain Capital, Paradigm, and Bain Capital Ventures.
Partnerships and Ecosystem
Compound has collaborated with several DeFi projects and platforms to expand its ecosystem. Partnerships include integrations with other DeFi protocols like Yearn Finance, Aave, and Curve Finance, as well as collaborations with wallet providers and blockchain infrastructure projects.
cDAI has emerged as a prominent asset in the DeFi space, offering users a simple yet powerful way to earn interest on their DAI holdings. With its innovative features, strong backing, and growing ecosystem, cDAI and the Compound protocol continue to play a vital role in shaping the future of decentralized finance.
cDAI allows users to earn interest on their DAI holdings while maintaining liquidity, thanks to its innovative token design within the Compound protocol.
Compound was founded in 2017 by Robert Leshner and Geoffrey Hayes, pioneering the decentralized finance (DeFi) space.
Compound has received backing from renowned investors like Andreessen Horowitz, Polychain Capital, Paradigm, and Bain Capital Ventures, demonstrating strong support for its vision and technology.
You can buy cDAI (CDAI) on Uniswap V3 (Ethereum), Uniswap V2 (Ethereum), Curve (Ethereum) cryptocurrency exchanges.
