Compound (company)

Compound (company)

Compound is a company with an open-source protocol for algorithmic Money Markets on the Ethereum blockchain.It designs apps that allows for users of cryptocurrencies to monetize and borrow tokens.

Compound is a San Francisco-based company with an application enabling people holding assets in Ethereum to gain interest on those assets, when they would normally sit in a digital wallet. It also allows for the borrowing of tokens, much like financial aid. Cryptocurrencies that are supported on Compound are Ethereum, 0x, Augur, Basic Attention Token, Dai, USDC, and wrapped Bitcoin.

Product

Users of Compound, both borrowers and lenders, interact with the protocol so that they can earn or pay a floating interest rate. This allows for them to borrow and lend without negotiating terms such as maturity or interest rate. The interest rates depend upon the supply and demand of the specific cryptocurrency that is being borrowed or lended. These rates are available for viewing by the users upon visiting the interface through a Web3 browser. Compound also has a transparency dashboard so that users can see how much the company is earning with each transaction.

Various interfaces in addition to Compound are utilizing the protocol such as Zerion, Coinbase Wallet, InstaDapp, DeFi Saver, Pool Together, and Multis.

Timeline

May 16, 2018

Compound raises $8.2 million

In a seed round, the company raises more than $8 million dollars from investors such as Polychain and Bain Capital Ventures.

May 2018

Compound raises a $8,199,999 seed round from Bain Capital Ventures, Danhua Capital, Abstract Ventures, Andreessen Horowitz, Polychain Capital, Compound Ventures, Coinbase and Transmedia Capital.

2017

Compound was founded by Robert Leshner and Geoffrey Hayes.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
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People

Name
Role
LinkedIn

Alexander Pack

Investor

Art Peel

Employee

Calvin Liu

Employee

Emily Blanchard

Employee

Geoffrey Hayes

Founder

Jeff Jenkins

Investor

Jeff Morris Jr.

Investor

Robert Leshner

Founder

Torrey Atcitty

Employee

Further reading

Title
Author
Link
Type
Date

Coinbase's first investment, Compound, earns you interest on crypto

Josh Constine

Web

Compound: The Money Market Protocol

February 2019

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Omar Faridi
July 4, 2020
Crowdfund Insider
Decentralized apps experience huge increase in activity in June 2020, led by $500 million increase in DeFi protocol Compound's balance sheet.
Omar Faridi
June 28, 2020
Crowdfund Insider
Decentralized finance (DeFi) protocol Compound's COMP tokens are now supported by Coinbase Earn, a platform for learning about crypto.
Omar Faridi
June 26, 2020
Crowdfund Insider
Lex Sokolin from ConsenSys looks into what happened when DeFi protocol Compound's balance sheet increased by over $500 million.
Omar Faridi
June 24, 2020
Crowdfund Insider
Balaji Srinivasan backed options issuance platform Opyn secures over $2 million to help protect DeFi investors.
Omar Faridi
June 23, 2020
Crowdfund Insider
Decentralized finance protocol Compound sees dramatic increase in lending activity due to COMP token "farming."
Omar Faridi
June 21, 2020
Crowdfund Insider
Tether's USDT stablecoin grows faster on Compound protocol than others, has potential to streamline cross-border payments: report.
Omar Faridi
June 18, 2020
Crowdfund Insider
Open-source DeFi protocol Compound achieves key "decentralizaton" milestone, general counsel Jake Chervinsky explains.
JD Alois
June 15, 2020
Crowdfund Insider
Click HERE to find out ⭐ Republic Moves Further into Real Estate with Acquisition of Compound Launching Republic Real Estate Vertical. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Henry Pickavet
June 10, 2020
TechCrunch
In week four of a16z's Crypto Startup School, the spotlight shifts to building companies by growing communities of users, developers and employees in a decentralized context.
December 19, 2019
news.google.com
Singapore, Dec 18 : An antioxidant found in the green tea could become key to tackling tuberculosis, a new research has found. Read full story of 'Compound in green tea plant may treat tuberculosis' at Health News Section, newkerala.com

References

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