The cUSDC coin, is a type of cryptocurrency token that represents an interest-bearing version of the USD Coin (USDC). More
| Fully Diluted Valuation | $31.75M |
|---|---|
| 24H Trading Volume | $59 |
| 24H Low / High | $0.03 / $ 0.03 |
| Circulating Supply | 1.26B |
| Total Supply | 1.26B |
| Max Supply | ∞ |
| Categories | Decentralized Finance (DeFi) 2 more |
|---|---|
| Founder | Compound Finance |
| Website | compound.finance |
| Socials | 1 more |
| Chains | Ethereum Ecosystem |
| Explorer | Etherscan 2 more |
| Contracts |
0x39a....e7563
|
| Name | Pair | OG Score |
|---|
The cUSDC coin, or cUSDC token, is a type of cryptocurrency token that represents an interest-bearing version of the USD Coin (USDC) on the Compound Finance protocol. Here are some key details about cUSDC:
Platform: cUSDC is part of the Compound Finance protocol, which is a decentralized finance (DeFi) application built on the Ethereum blockchain.
Interest-Bearing: When users supply USDC (a stablecoin pegged to the US dollar) to the Compound protocol, they receive cUSDC tokens in return. These cUSDC tokens accrue interest over time, reflecting the interest earned from lending out the supplied USDC to borrowers on the Compound platform.
Supply and Redeem: Users can redeem their cUSDC tokens for the underlying USDC (plus any accrued interest) at any time. The exchange rate between cUSDC and USDC increases over time as interest accrues.
Use Cases:
Earning Interest: Users can earn passive income by holding cUSDC tokens, as these tokens automatically earn interest.
Collateral: cUSDC can be used as collateral to borrow other assets within the Compound protocol.
Integration in DeFi: cUSDC can be integrated into other DeFi protocols and services, allowing users to leverage their interest-bearing tokens in various decentralized applications.
Mechanism: The interest rates for cUSDC (and other cTokens in the Compound protocol) are determined algorithmically based on supply and demand dynamics within the Compound market.
Overall, cUSDC is a way for users to earn interest on their USDC holdings while maintaining liquidity and flexibility within the DeFi ecosystem.
cUSDC is unique because it represents an interest-bearing version of the USD Coin (USDC) on the Compound Finance protocol, allowing users to earn interest while maintaining liquidity and flexibility within the DeFi ecosystem.
Compound Finance was founded by Robert Leshner and Geoffrey Hayes in 2017.
Compound Finance has received backing from prominent investors such as Andreessen Horowitz (a16z), Polychain Capital, Bain Capital Ventures, and Coinbase Ventures.
You can buy Compound USDC (CUSDC) on Uniswap V2 (Ethereum), Curve (Ethereum) cryptocurrency exchanges.
Join
OGAudit
