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    $0.0227151 $ 0.0227151
    +¥5204,24 0.2% 1D
    1D 1M 1Y ALL
    Updated:
    LOADING DATA
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    Market Cap (USD)
    571.95M
    24H Volume
    71.56
    Circulating Supply
    25.24B CUSDC
    Max Supply
    --
    All Time High
    0.0588434
    Rank
    68

    About

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    • About cUSDC (CUSDC)

      CUSDC is a kind of asset proof in Compound, which symbolizes the share in the USDT reserve pool of Compound. When the user stores USDT in Compound, the smart contract will refer to the current exchange rate of CUSDC / USDT, automatically generate a certain number of CUSDC on the chain and send it to the user; CUSDC can be used to take out the stored USDT, and can also be used as asset collateral to borrow/lend other cryptocurrencies.


      How does Compound USD Coin (CUSDC) Work?

      Customers participate in depositing Ether or any Ethereum (ERC-20) based assets and earn interest. The factors that attract users include the complete automation of the process and the decentralization of the system. After each ETH block is completed (it takes 15 seconds), it is possible to start earning interest.

      The point is to create a system to oppose the scheme that banks use when people are unable to use the money they deposit. The idea of DeFi is to give people the opportunity to use assets while they keep their savings. Customers receive rewards from people who borrow money from the pool and are ready to pay. Therefore, they pay for the borrowed funds, while the other party that deposits the encrypted assets receives the interest rate.

      The Compound protocol was released in June 2020. After the distribution of major tokens, the platform became completely decentralized. Community members received 50% of the tokens, while the other half was allocated to the team. After the distribution of tokens in June 2020, 15 governance proposals were created. Twelve of them have been implemented. In order to encourage borrowers and lenders to use the protocol and avoid decline, the platform launched its liquidity mining plan in June 2020.

      The platform uses cutting-edge technology to generate CUSDC. For example, the API access provider Infura is used to bridge with the Ethereum network. Community members can use the platform's API to call smart contracts through HTTP requests. In addition, the Compound team has also developed its own oracle - Open Price Feed, which uses data received from price reporters and posters. In addition, it temporarily uses Uniswap V2 price feeds. The Oracle is implemented in different networks. Developers use Solidity, the most popular programming language, to create Ethereum smart contracts, which can then be executed using JSON RPC from Web3.js.

      According to the Compound protocol, the adjustment of supply and demand is performed through a complex algorithm that is updated frequently. As demand increases, interest rates will increase proportionally to balance the market, rather than letting community members borrow too much money. Lenders also get the motivation to lend. The protocol aims to enable borrowers who can apply at any time to acquire assets.

      It seems that Compound is just another decentralized lending protocol for using cryptocurrencies as collateral. However, the Compound protocol is different from them because it supports the tokenization of assets, which are locked in the pool by using cTokens. When the funds are deposited, the assets become Compound tokens, which are Ethereum tokens starting with the letter C. For example, CUSDC is also based on the principle of cToken. This is the currency obtained by the customer after depositing USDC on the platform. Tokens are designed to change their value proportionally with the interest generated in the pool.

      This system has become very popular due to the ability to exchange tokens when needed. At this time, the community members not only redeemed the amount they deposited in CUSDC, but also redeemed the interest. The interest rate varies according to the market conditions that affect the supply and demand of CUSDC.

      The CUSDC market is different from other markets presented on the platform because the supply and demand of interest rates will affect the final profit of users. CUSDC can be used as collateral for borrowing. The token is also supported by several unique DeFi products, including Set Protocol Yield Sets, which rebalance the assets in CUSDC in the stable phase.


      What is Compound USD Coin (CUSDC)?

      Compound is an algorithm and autonomous interest rate protocol built for developers to unlock a series of open financial applications.

      Compound USD Coin (CUSDC) is an ERC20 token, which represents the cryptocurrency assets stored and locked in the Compound protocol. CUSDC is the interest-bearing version of USDC lent by members of the Compound community.

      Compound is a decentralized money market network developed and based on Ethereum, enabling users to earn income from deposits and borrow money with collateral. This is the second largest lending protocol at the time of writing. The reward plan is very simple and does not require profound knowledge.

      The platform was developed by Robert Leshner, the founder and CEO of the company and a former economist. Compound is a project based in San Francisco, which began to grow rapidly in 2019. With the popularization of decentralized finance, explosive growth followed in 2020. The interest rate of CUSDC is developed by the internal team and is calculated according to the supply and demand situation.


      Compound USD Coin (CUSDC) Crypto Wallet

      In addition to placing CUSDC in the Gate.io exchange to facilitate trading, CUSDC can also be placed in a crypto wallet.
      Compound is a popular decentralized Finance (DeFi) platform. Its protocol allows users to buy cryptocurrencies and earn high interest in the process. CUSDC is the native token of the platform. It operates as an ERC-20 token on the Ethereum blockchain. It is the proof of assets in Compound, which symbolizes the share in the USDT reserve pool of Compound.

      Therefore, there are a variety of wallets to choose from, all with different hardware and software functions. Compound wallet is a software or hardware wallet that interacts with the Ethereum blockchain and allows users to "store" the native token COMP of Compound. The private key is for everyone. To access the COMP stored in a specific wallet, you need a private key. Without a private key, you cannot interact with the Ethereum blockchain, which means you cannot send, receive, exchange or do anything with your COMP wallet.

      Any good composite wallet should be free. If someone tries to sell you a composite wallet, be careful. All the best wallets are 100% free. In addition to the blockchain fees related to each transaction, there is no fee for using the composite wallet. Some wallets choose to pay these fees for you, while others let you choose fees (higher fees lead to faster transaction times).
      Expand

    cUSDC FAQs

    • 1. What determines the price of cUSDC?
      There are two schools of thought in determining the price of cUSDC.

      By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of cUSDC, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of cUSDC from a long term perspective.

      By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of cUSDC on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for cUSDC as well.

      HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for cUSDC and the cryptocurrency market as a whole.
    • 2. What is the highest price of cUSDC in history?
      cUSDC achieved the all-time high of $0.059 in 2020-10-21, and is currently trading at $0.023.
    • 3. What is the lowest price of cUSDC in history?
      In 2021-03-04, cUSDC reached the all-time low of $0.0062.
    • 4. Should I buy cUSDC now?
      It is important to remember that cUSDC, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.

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