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COMPOUND CLONE SCRIPT

The compound clone script is a decentralized, algorithmically managed interest rate Protocol for lending and borrowing crypto assets.

    Features

  • Supply - creating a sufficient supply of DeFi tokens in the liquidity pools.
  • Borrow - Obtaining the required loan amount with the least amount of effort.
  • Liquidate - it entails selling the attached collateral to recoup damages. Repay- on-time repayment of acquired loans with the agreed-upon interest rate

FOR LENDERS -

  • Users who want to lend their crypto assets may consider depositing them in a Decentralized compound wallet.
  • Earn interest- a rate of interest is calculated based on the size of your deposit and then transferred to the user.
  • This is the identical token they had lent, denominated in the same way.
COMPOUND CLONE SCRIPT

FOR BORROWING -

  • Assign collateral - customers who need to borrow crypto assets need to deposit a collateral amount that is typically greater than the loan amount.
  • Collateral factor- The protocol decides how much the user is allowed to borrow based on the quality of the locked asset.
  • Pay interest- Users must be paid interest on the asset they borrow within a certain time frame, otherwise their deposited cryptos will be liquidated.

A Compound protocol's native token is COMP. COMP is an ERC20 token that Users can earn by lending or borrowing assets. Users can acquire an equivalent Amount of COMP tokens by placing ETH or other ERC20 tokens like USDC into the protocol, and they can also borrow crypto tokens. COMP tokens can be stored in Ethereum wallets like MetaMask and Coinbase.

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  • A user-friendly interface and
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  • Exceptional Design
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  • Source code that has been thoroughly tested
  • Technology on the cutting edge
  • Support for a variety of crypto tokens plus a lot more