Compound Finance

Is Compound a secure platform?

Yes, Compound prioritizes security by implementing a robust risk management system through its Comptroller contract, which determines collateral requirements and liquidation conditions. The platform also employs an Open Price Feed that aggregates price data from reputable sources like Chainlink to ensure accurate asset valuations. Additionally, Compound's governance model allows the community to propose and vote on protocol upgrades, enhancing its security and functionality.

How to use Compound?

To use Compound, connect your Ethereum wallet to the platform's web application. Once connected, you can supply assets to various markets to earn interest or borrow assets by providing appropriate collateral. The platform's user-friendly interface guides you through minting cTokens, managing your account, and participating in governance if you hold COMP tokens.