Where is the 2020 wave known as “DeFi Summer” often said to have begun?
One data point: The Compound protocol launched in September 2018, making it one of the early on-chain lending markets.
Deposit receipts like cTokens are tokens in their own right: they can be transferred and used with other DeFi protocols, making them like “Lego bricks” that can be combined.
Remember this, and you’ll be better off than memorizing a bunch of jargon. Be extra skeptical of claims promising stable, high returns.
$COMP is the governance token of the Compound protocol, and distribution began in June 2020. Currently 19.94.
#COMP
One data point: The Compound protocol launched in September 2018, making it one of the early on-chain lending markets.
Deposit receipts like cTokens are tokens in their own right: they can be transferred and used with other DeFi protocols, making them like “Lego bricks” that can be combined.
Remember this, and you’ll be better off than memorizing a bunch of jargon. Be extra skeptical of claims promising stable, high returns.
$COMP is the governance token of the Compound protocol, and distribution began in June 2020. Currently 19.94.
#COMP
