NFT Collection The Superlative Secret Society Price, Stats, and Review
How Do Crypto Market Capitalizations Actually Work?
Legendary Boxer Mike Tyson Joins Blockchain Social Network
Is AVAX undervalued? These key indicators might have all the answers
Injective Votes On Major Upgrade To Make INJ Even More Deflationary: Will Prices Recover?
As Bitcoin Halves, On-Chain Data Shows That Old Whales And Miners Are Big Winners
Runes Protocol Launches on Bitcoin, Sending Fees Soaring as Users Rush to Mint Tokens
Bitcoin completes is 4th Halving – Will BTC’s price climb by 500x again?
After Halving Event, Bitcoin Transaction Fees Soar to Over $240
Solana-based memecoins WIF, BODEN’s whales are moving to PUPS – Why?
Bitcoin Mega Whales Are Buying, Time For Rally To Return?
Binance CEO Vows Cooperation With Nigerian Authorities In $35M Money Laundering Case
AI Firm Mistral To Raise $533M At $5.3B Valuation: Report
Bitcoin Rally Holds Around $63,700 Following 4th Block Reward Halving
ViaBTC Just Mined the 4th Ever Bitcoin Epic Sat During The Halving
Bitcoin Blockchain Has Fourth 'Halving' in 15-Year History, in Show of Monetary Policy Set by Code
Halving Milestone: Block 840,000 Mined, Ushering in a New Chapter as Bitcoin Miners Face Shrinking Rewards
Bitcoin Halving Executes, Defying Era of Money Printing and Currency Debasement With ‘Quantitative Tightening’
Shiba Inu Burn Rate Sees 81% Daily Increase, But Why Is Participation Low?
Shiba Inu Headed Toward Critical Support Threshold With 2 Trillion SHIB Buys
Trader Says Chainlink (LINK) Flashing Short-Term Bullish Signal As Crypto Market Tracks Sideways
Shiba Inu coin’s price – Bitcoin halving’s impact on this altcoin will be…
Bitcoin Trader Selling Pressure Declining, CryptoQuant Head Explains Why
Tether Officially Reorganizes, Announces Four Different Business Divisions
Indian Man Pleads Guilty to Creating Spoofed Coinbase Website, Stealing $9.5M in Crypto
Compound Finance Assets Soar Past $200 Million USD In Light Of Recent DeFi Troubles
Compound Finance, a decentralized finance platform, holds over $200 million USD in assets on its supply side, making a remarkable feat in the industry. As the company grows, Co-Founder of Compound, Robert Leshner, believes security is the “north star” to development in the space, especially in light of the recent contract exploitations on bZx exchange.
Compound Finance supply side assets hits $200 million
In a tweet sent out on Feb. 18, the Cofounder of Compound, Leshner, congratulated the development team and thanked the users of the DeFi product after the protocol registered over $200 million in assets on the supply side.
“Compound is an algorithmic, autonomous interest rate protocol built for developers, to unlock a universe of open financial applications.”
Currently at $208,155,790 USD, representing a 5.45% increase in the past day, the value of assets in the supply side on Compound signals a gradual increase in adoption of the platform in the near futures. The total amount on the borrow side stands at $42,135,609 USD, representing a sharp 12.35% increase in the past 24 hours.
The lending decentralized platform offers users a market of eight currency pairs to lend and borrow from including Ether (ETH), Dai (DAI), USD Coin (USDC) and Basic Attention token (BAT).
Over quarter of assets held on Compound is DAI
While the numbers above may not look impressive at a glance, breaking down the asset class offers some perspective on the great work Compound is doing. According to Vishesh on Twitter (using data collected from Compound) the company holds over $34 million in DAI, representing 27% of the total supply of DAI, $118 M in Ethereum, $29.9 M on USDC (7% of the total supply), $18 M in Augur (REP), $2.2 M in single DAI, and $1.23 M in BAT.
Some perspective on the @compoundfinance supply side:
~34.2 M $Dai or ~27% of total supply
~205 $WBTC or ~25% of supply
~1.3 M $REP or ~11.8% of supply
~2.2 M $Sai or ~ 10.2% of supply
~29.8 M $USDC or ~7% of supply
~5.2 M $ZRX or ~2.6% of supply
~4.4 M $BAT or ~0.3% of supply https://t.co/DLkfUjIhIz— Vishesh 🔬 (@visavishesh) February 18, 2020
Trouble in the face of innovation
Despite the massive steps Compound Finance has taken in providing cheap and efficient financial solutions, trouble is brewing in the DeFi space following the recent attacks on bZx exchange –whereby the exchange lost close to $1 million dollars. The issue? Security.
There are now $200M of assets supplied to @compoundfinance.
Our highest priority continues to be security; while we can't guarantee absolute safety (no protocol can), we can promise that this is our north star — always.https://t.co/l7RhW2i6Hz pic.twitter.com/3XWr7pv5WU
— 🤖 Leshner (@rleshner) February 18, 2020
As decentralized finance products rise, there should be a key focus on the security of funds and defaults on loans, Leshner said. Compound is committed to offering the best security protocols in the industry with security shaping the decisions made by the management of the platform.
