Compound, a San Fransisco-based blockchain startup backed by cryptocurrency exchange Coinbase and venture capital group Andreessen Horowitz, launched on Thursday its money market protocol on the Ethereum blockchain.
In a Medium post,Compound said the new platform would allow individuals, institutions, and applications to earn interest or borrow crypto assets without having to negotiate terms such as maturity, interest rate, or collateral with a peer or a counterparty.
Initially, the Compound platform will support four tokens: Ethereum (ETH), 0x Protocol (ZRX), Basic Attention Token (BAT (LON:BATS)), and Augur (REP). Each asset will have a publicly stated interest rate for supplying and borrowing, set automatically on the basis of supply and demand.
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