Where is the 2020 wave known as “DeFi Summer” commonly considered to have started?
Definition: Launched in 2019, Compound v2 introduced cTokens: tokens you receive after depositing assets, whose exchange rate increases as interest accumulates.
How it works: Deposit receipts like cTokens are tokens themselves. They can be transferred and used in other DeFi protocols, enabling what’s known as “money lego” composability.
$COMP is Compound’s governance token, which began distribution in June 2020. Currently 20.21.
It’s best to deposit only funds you can afford to lose.
#COMP
Definition: Launched in 2019, Compound v2 introduced cTokens: tokens you receive after depositing assets, whose exchange rate increases as interest accumulates.
How it works: Deposit receipts like cTokens are tokens themselves. They can be transferred and used in other DeFi protocols, enabling what’s known as “money lego” composability.
$COMP is Compound’s governance token, which began distribution in June 2020. Currently 20.21.
It’s best to deposit only funds you can afford to lose.
#COMP
