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Klever News
Home Announcements

Klever Wallet adds new Compound (COMP) Swap Pairs

by Warren Manuel
May 19, 2022
in Announcements, Exchange, Global, Wallet
Reading Time: 2 mins read
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Available COMP BEP20 Swap pairs: 

  • COMP/KLV
  • COMP/USDT (TRC20)
  • COMP/USDT (ERC20)
  • COMP/TRX
  • COMP/BTC
  • COMP/KBTC
  • COMP/KETH
  • COMP/ETH
  • COMP/BUSD (BEP20)

What is Compound (COMP)?

Compound is a decentralized lending protocol through which users can earn interest by depositing their cryptocurrency into one of the pools the platform supports.

In return for depositing tokens into a compound pool, users receive cTokens. Individuals can redeem the underlying cryptocurrency initially deposited into the pool at any time by using the cTokens they hold in the pool. You can deposit ETH into a pool and receive cETH in return. cTokens are exchanged for underlying assets as their value increases over time, which means you can redeem them for more assets than you initially purchased. This is how interest is distributed.

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Alternatively, borrowers who deposit collateral can take out a secured loan from any Compound pool. Based on the collateral asset, the maximum loan-to-value (LTV) ratio currently ranges from 50 to 75%. Depending on the collateral, the interest rate paid varies and borrowers can be automatically liquidated if their collateral falls below a specific maintenance threshold.

Compound has seen huge growth since launching its mainnet in September 2018, and its total locked value recently surpassed $800 million for the first time.

Klever Swap

Klever Swap is a core service of the Klever app that makes it simpler, faster, and more convenient for our users to exchange cryptocurrencies at the click of a button. By monitoring live price action on top-tier exchanges, our native Swap engine creates a price index that is used by the Swap.

The swap itself is conducted by fully autonomous bots, built and maintained in-house by Klever’s developers’ team. These bots continuously seek the best exchange rate and prices among the top exchanges, and then execute the Swap with high precision, security and speed. The Klever Swap project is part of Klever Exchange.

Tags: compcomp swapcompoundswap compswap compound coin
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Warren Manuel

Warren Manuel

As the Head of Marketing for Klever, I use my digital marketing and development skills to help grow the brand across many different channels, expanding the brand's reach, generating leads, and helping improve conversions, and repeat business.

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