CoinList users are always asking for trading and wallet support for more high-quality assets. Today, we are proud to announce the next assets available for trading on CoinList: Compound (COMP) and Celo Dollars (cUSD).
1. Compound (COMP): An algorithmic, autonomous interest rate protocol
Compound is a protocol that allows people to lend and borrow cryptocurrency. Like most DeFi protocols, Compound is a system of openly accessible smart contracts built on Ethereum. The platform allows borrowers to take out loans and lenders to provide loans by locking their crypto assets into the protocol. Unlike in traditional finance, however, the interest rates paid and received by borrowers and lenders on Compound are determined algorithmically by the supply and demand of each crypto asset. Interest rates are generated with every block mined, and locked assets can be withdrawn at any time.
2. Celo Dollars (cUSD): Unlocking the true potential of stablecoins
Celo is an open platform that makes financial tools accessible to anyone with a mobile phone. On Celo, value can be transferred faster and cheaper than traditional bank wires using globally accessible technology. Since cryptocurrencies are completely programmable, a wide array of financial services can be created without costly intermediaries. Celo Dollars (cUSD) are a stable asset that follows the US Dollar. With cUSD, you can share money faster, cheaper, and more easily on your mobile device.
As Compound continues to improve yield farming opportunities in DeFi and Celo continues to bring powerful financial services to anyone around the world with a mobile phone, CoinList users now have a compliant and robust trading solution to participate in these networks.
We will announce the official trading date shortly. In the meantime, CoinList users can now deposit COMP & cUSD directly into their CoinList wallets in preparation for trading.
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