Compound makes it easy to borrow and lend cryptocurrencies


Cryptocurrencies may be the money of the future, but in comparison to traditional fiat currencies, they lack a mature and diverse ecosystem of financial services. Addressing this is Compound, which launches in September, and wants to bring a functional, liquid money market to several significant cryptocurrencies. From launch, the platform will support Ether and ETH-based tokens, as well as TrueUSD (TUSD), Basic Attention Token (BAT), 0X (ZRX), and Augur (REP). Users (including hedge funds, individuals, and other decentralized applications) can lend their coins and tokens for interest, or borrow with some collateral down. Interest rates are adjusted algorithmically, based upon…

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Source:: The Next Web – Technology

      

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