Compound is a decentralized money market protocol based on ethereum to lend your assets and earn interest with Ethereum, Basic Attention Token, Bitcoin, Sai, Augur, USD Coin, Dai, and Tether.
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- What is Compound?
Compound is a decentralized protocol which establishes money markets with algorithmically set interest rates based on supply and demand, allowing users to frictionlessly exchange the time value of Ethereum assets.
Suppliers (and borrowers) of an asset interact directly with the protocol, earning (and paying) a floating interest rate, without having to negotiate terms such as maturity, interest rate, or collateral with a peer or counterparty.
Users can interact with the protocol directly via Metamask or by using one of the decentralized applications that implemented Compound natively.
- What is your teams expertise / track record?
Compound Finance is a San Francisco based company which raised an $8.2M seed round in May of 2018 and a $25M Series A round in November of 2019. Financing rounds were lead by industry giants including but not limited to Andressen Horowitz, Polychain Capital, Coinbase Ventures and Bain Capital Ventures,
Compound’s team is highlighted by CEO Robert Leshner’s previous financial experience as a co-chair for San Francisco’s Revenue Bond Oversight Committee. Resher has previous experience working on successful companies with CTO Geoffrey Hayes from their time building Postmates and Safe Shepard.
- What is your Infrastructure Security Setup?
All Compound contract code and balances are publicly verifiable, and security researchers are eligible for a bug bounty for reporting undiscovered vulnerabilities.
We believe that size, visibility, and time are the true test for the security of a smart contract; please exercise caution, and make your own determination of security and suitability.
Users are incentivized to audit the code and security. Discoveries that can prevent the loss of assets, the freezing of assets, or harm to a user, commensurate with the severity and exploitability of the vulnerability, will be paid a reward of $500 to $150,000.
- How do you handle Governance Decisions?
Compound is managed by a decentralized community of COMP token-holders and their delegates, who propose and vote on upgrades to the protocol.