The Ethereum-based decentralized finance protocol Compound has launched a new feature allowing users to open savings accounts for their crypto-assets. This new feature allows users to earn interest on their crypto-assets without having to trade or move them.
The news of Decentralized Finance (DeFi) getting yet another boost of advanced features is always exciting. Compound, the Ethereum-based DeFi protocol, has launched a brand new feature that lets users open savings accounts for their crypto-assets.
This new feature has opened up a whole new world of options for DeFi traders. Now users can earn interest on their crypto-assets by simply holding them in their Compound savings accounts, instead of trading or moving them.
Just as with any other savings account, users can open a Compound savings account with their crypto-assets as the deposit and start earning interest as soon as they confirm the deposit. They can also withdraw their assets at any time. The rates of interest vary depending on the asset and the amount deposited.
The rates of Compound’s savings accounts are the same for everyone and do not depend on the amount of funds held in the savings account either. This allows all users to benefit from the same highest interest rate available.
The launch of the Compound-facilitated savings accounts has had a positive boost on the DeFi sector. This is because crypto-asset holders now have another viable option to earn interest on their assets, without having to trade or move them.
The launch of this new feature has been welcomed by users and is sure to provide an additional source of liquidity in the crypto-market.
As the Decentralized Finance sector continues to evolve, with this new feature from Compound leading the way, it is becoming more and more attractive for users to lock their funds into DeFi protocols.
DeFi is becoming increasingly popular as a way for users to get the highest returns without having to trade or move their assets. This new feature from Compound reinforces the potential for investors to continually earn more from their crypto-assets without any extra effort.
If you’re interested in taking advantage of this new feature from Compound, be sure to keep up with the latest news from DeFi so you can stay up-to-date on the latest developments. Follow us on social media for more information, news, and tips.