Compound is an open-source protocol running on Ethereum that permits users to access a new generation of money market where they can lend and borrow tokens, in a decentralized and safer way. Participants can earn interest from their crypto assets or borrow cryptocurrencies without third parties at a fraction of the cost of normal borrowing, dramatically increasing the accessibility of the market.
Compound Tokens (called cTokens) are ERC-20 based tokens designed to work on Compound protocol. They represent user’s lending or supply balance and the earned interests. Each cToken has it’s own smart contract and it can be traded or stored like other Ethereum based tokens.
Eidoo Wallet permits its users to gain interest through cDAI. Our team is currently working in order to implements more cTokens in the future. If you want to read more about earning cDAI interests with Eidoo Wallet, please check the dedicated article.