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Coinbase will pay to study Compound’s DeFi project
Coinbase Adds Compound DeFi Protocol To Its Education Program.
Users will be rewarded with tokens for learning the basics of the protocol.
Compound was one of the first DeFi tokens to switch to decentralized governance.
Crypto exchange Coinbase has included the Compound DeFi protocol in its educational program and will reward users for learning it.
Clients of the Coinbase cryptocurrency exchange got a new opportunity to profitably master the basic principles of functioning of one of the hottest sectors of the crypto industry – the decentralized finance segment (DeFiDecentralized Finance (DeFi) – this is financial services, built on blockchain technology, which offer users access to an open, efficient and … More). Coinbase has now added the Compound protocol and native token to its Coinbase Earn education program As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More COMP.
Compound as a pioneer in DeFi
According to some market participants, the boom in the DeFi segment began in June this year with the launch of the Compound (COMP) token, created on the basis of the Ethereum blockchain. Since then, it has been listed on major exchanges such as Binance and Gemini. Coinbase itself added Compound to its trading platform in July 2020.
The Compound lending and investment platform allows users to earn interest on their deposits and request collateralized loans. A notable feature of DeFi is the automatic implementation of all financial processes using smart contracts. This removes the need for traditional centralized financial intermediaries such as banks.
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In addition, Compound was one of the first DeFi applications to transfer control and reins from the development team to the hands of the community. Users received the right to make decisions by voting that determine the future fate of the protocol. Voting rights are exercised through COMP tokens.
At the moment, investors have contributed $ 850 million to Compound, and more than 5,600 users have received loans through the platform.
Explore and get
Now, thanks to an update to its educational program, Coinbase has provided its customers with the opportunity to better and deeper explore the “kitchen” of DeFi and master the basics of lending in this segment. Coinbase has previously educated users on topics such as MakerDAO and decentralized exchanges. Cryptocurrencies continue to sweep the planet, becoming increasingly mainstream and finding new uses for themselves. People buy bitcoin, … More Kyber Network and 0x.
Coinbase offers a series of step-by-step assignments educating users on how to earn interest and participate in the decentralized governance of the DeFi protocol. For completing tasks and passing new stages of training, program participants receive a reward in the form of various tokens. As a rule, these are the native tokens of the studied project..
The amount of remuneration for a course of COMP lessons is small – it is not even $ 10. However, its value is measured not only in money. Perhaps such an initiative by Coinbase will help make the DeFi industry more understandable for more people and will lead to more active mass adoption of cryptocurrencies..
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