Ethereum
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ETH · 4w

#KyberDeFi Virtual Hackathon Partner Spotlight — Compound: Autonomous money market protocol, that lets users earn interest on and borrow Ethereum assets.

#KyberDeFi Partner Spotlight — Compound

Build with Compound and Kyber to win up to $5000 in cDAI! (from a $42,000 prize pool)

Great to have Compound, a well-known project in the DeFi space, as our Hackathon Tech Partner!

Integrating Compound with Kyber Network for our #KyberDeFi Virtual Hackathon ? Compound is offering a total of $5000 in cDAI for their bounty rewards! (from a total hackathon prize pool of $42,000).

Compound Bounties — up to $5000 in cDAI Compound x Kyber Prize: $3,500$3,500 in cDAI for the best project that uses/integrates both Compound and Kyber Compound x Kyber (Runner-up): $1,500$1,500 in cDAI for the Runner-up project that uses/integrates both Compound and Kyber What is Compound?

Compound is an autonomous money market protocol, that lets users earn interest on and borrow Ethereum assets. The Compound protocol has over 100 million dollars worth of assets(source: defipulse.com) available to developers, today, that you can programatically access.

Inside the protocol, lending balances are tokenized; these are called cTokens. They represent the interest that a user is earning, and can be programmed, traded, and transferred. Users can frictionlessly borrow any supported asset from the protocol, using cTokens as collateral.

Compound has been getting more recognition in the space, receiving a $1million investment from Coinbase in the form of a “USDC Boostrap fund” to improve USDC liquidity on their platform.

Compound has also been audited by Trail of Bits and OpenZeppelin, and the protocol was formally verified in partnership with Certora.

How are interest rates on Compound set?

Interest rates are a function of the liquidity available in each market, and fluctuate in real-time based on supply and demand. When liquidity is plentiful, interest rates are low. As liquidity becomes scarce, interest rates increase, incentivizing new supply and the repayment of borrowing. You aren’t loc...

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