Compound, the Coinbase and Andreessen Horowitz funded startup, launches its money market protocol for shorting cryptocurrencies or lending them to earn interest
Think Ethereum and other crypto coins are overvalued? Now you can make money when their prices fall via Compound, which is launching its money market protocol for shorting cryptocurrencies today. The Coinbase and Andreessen Horowitz-funded startup today opens its simple web interface allowing users to borrow and short Ethereum, 0x’s ZRX, Brave’s BAT, and Augur’s REP token, or lend them through Compound to earn interest.
Compound’s protocol isn’t just useful for crypto haters, or HODLers who want to generate interest instead of just having their coins gathering dust in a wallet. “If/when Compound scales, this will lead to some really interesting improvements in market structure, namely, fairer prices” Compound CEO Robert Leshner tells me.
The startup spent the summer completing a security audit by Trail Of Bits and adding 26 hedge fund partners who will trade with Compound, offering liquidity to independent investors looking to be matched with borrowers or lenders. Next, the startup wants to offer a stablecoin on its protocol, bring in big financial institutions to add even more liquidity, and partner with a wallet provider to make signup faster.
https://app.compound.finance/
Topic: [2019-09-28] Coinbase funded startup, launches protocol for shorting crypto (Read 92 times)
September 28, 2018, 02:13:59 PM
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