Where is the 2020 “DeFi Summer” often considered to have started?
Compound v2, launched in 2019, introduced cTokens: receipts you receive when you deposit assets, with an exchange rate that increases as interest accrues.
Funds deposited in lending protocols are also exposed to smart contract vulnerabilities and bad debt risks, so don’t put all your assets in one protocol.
$COMP is Compound’s governance token, and distribution began in June 2020. It’s currently 22.97.
If there’s anything else I haven’t covered, share it in the comments.
Compound v2, launched in 2019, introduced cTokens: receipts you receive when you deposit assets, with an exchange rate that increases as interest accrues.
Funds deposited in lending protocols are also exposed to smart contract vulnerabilities and bad debt risks, so don’t put all your assets in one protocol.
$COMP is Compound’s governance token, and distribution began in June 2020. It’s currently 22.97.
If there’s anything else I haven’t covered, share it in the comments.