Compound launched on Ethereum 8 years ago today.
Its permissionless money markets let people supply digital assets, earn interest and borrow against collateral.
By pooling liquidity and setting interest rates algorithmically based on utilization, Compound helped pioneer how lending works onchain. Over time, the protocol became a financial building block as developers integrated its markets into dozens of onchain applications.
Across its first three versions, Compound has processed over $480 billion in cumulative deposits and loans, including more than $57 billion in all-time loans.
With v4, Compound is working to become the Institutional Credit Network.
The next evolution of Compound is now under development. Stay tuned.