The mystic world of decentralized finance has remolded the crypto sphere, thanks to a slew of allied benefits it brings into the picture. At heart, DeFi is a financial construction mounted over the Ethereum blockchain, facilitating seamless access to a multitude of financial services with impeccable reliability. With smart contracts being their USP, the field of DeFi is mandated by stellar protocols, such as Compound.
Get ready to plunge into this world of infinite possibilities with Appdupe’s Compound clone script - a money market DeFi lending protocol that’s marinated with stunning functionality. Built with cutting-edge technology, it is your turnkey to scale unprecedented heights in the decentralized finance vertical in the shortest time possible. Connect with us to know more!
Essentially, the Compound clone script is a completely decentralized, algorithmically-operated interest rate protocol for the purpose of lending and borrowing a wide range of crypto assets. With the ability to affix cryptocurrencies as collateral, users can lend/ borrow with interest rates administered by real-time supply and demand.
Now within a few minutes, a user can affix collateral, borrow/ lend crypto assets and earn consistent interest amounts. A one needs to do is supply the assets to the Compound clone’s liquidity pool. An automated interest calculation mechanism means an unwavering infusion of profits, besides the capacity to withdraw/ repay the collateral effortlessly. We have a winner here!
It is safe to say that the underlying technological brilliance of a DeFi protocol often overshadows the magnanimous market relevance it mandates. Why so? The conventional banking system is plagued with myriad fumblings, causing a severe deterioration to customer trust and convenience.
The 200 million-strong user base’s financial requirements and needs aren’t quenched by the existing system, leaving a void that wasn’t doused until the emergence of DeFi protocols. A staggering $800 million has been locked in this vertical, with two-thirds being dominated by lending. This remarkable phenomenon is derived from the global accessibility rendered by DeFi, besides the capability to secure instant loans and rake prompt interest amounts.
To conclude, it is a no-brainer to plunge into this exceedingly profitable sector, and Appdupe’s Compound clone script might just be the missing link you need to kickstart the trail towards DeFi glory. Get started right now!
The essential utility of a first-rate decentralized finance protocol on the lines of Compound centers around the following verticals.
SupplyRamping up the liquidity pools with an adequate supply of DeFi tokens.
WithdrawExtracting the deposited tokens as per the user’s convenience.
BorrowObtaining the required loan amount in a constraint-free manner.
RepaySeamless payback of acquired loans with the embedded interest amount.
LiquidateSelling off the affixed collateral in order to reclaim losses.
USD Coin (USDC)
Basic Attention Token (BAT)
Wrapped Bitcoin (WBTC)
0x Token (ZRX)
The growth chronicles of the crypto-backed lending/borrowing sector is well-famed, and it is only logical to assume that the underlying momentum will be sustained for a very long time. Get the grip of this monumental opportunity to annex into the bandwagon of global blockchain giants, and the Compound clone leads your way.
Advanced Lending Functionality - Powered By Smart Contracts We forge the DeFi lending platform with the most powerful technologies available, besides stacking it with a bundle of cutting edge integrations. The presence of immutable, astonishingly efficient smart contracts further adds the flavor of security to the fray.
Highly Affordable - Zero Additional Costs The end-user need not spill out their hard-earned assets, as the practice of being regulated with centralized authorities/ third-parties is banished. This way, every single transaction is executed in a comprehensively secure environment, free from the clutches of interference.
Appdupe’s DeFi expertise is matched by none, and we are raging to adorn you with a superlative piece of technology.
Lock The Cryptos:
Users willing to lend their crypto assets should lock/ deposit them in the decentralized compound wallet.
An interest rate formulated based on the magnitude of your deposit is transferred to the user. This is denominated in the same token they had lent.
Users in need for borrowing crypto-assets should deposit a collateral amount, which is generally more than the stipulated borrowing amount.
The protocol decides how much the user is allowed to borrow based on the quality of the locked asset.
Users are mandated to pay interest on the asset they borrow within a predetermined time span. If not, the deposited cryptos will be liquidated.
Unlike other decentralized protocols, Compound deploys a dual approach to in situ operations - the cToken and the COMP token.
cTokens Being Compound’s native tokens, the cTokens are comparable to ERC 20 tokens in the sense that they can be transferred, traded, redeemed, and programmed anywhere, anytime.
They represent the immensity of a user’s fund deposited in the DeFi lending protocol. cTokens are generated and transferred to the user when an equivalent amount of ETH/ ERC 20 tokens are deposited. In other words, if a user mandates a loan using ETH as a deposit, the respective amount of cETH is transferred in return for their collateral.
COMP COMP is the unitary governance token of the Compound ecosystem, and it empowers its holders to make proposals and vote to determine the direction the protocol takes in the immediate future.
About 42.3% of the tokens are reserved for the users to leverage earnings (total supply = 10 million). The available amount of COMP is divided equally between the suppliers and the borrowers within an individual market. Combined with cTokens, COMP constitutes the fluidity index of Compound.
The Compound clone script zeros on the interest rate based on a legion of factors. To be precise,
Whenever a new Ethereum block is mined, an interest amount is generated.
An entirely decentralized governance structure characterizes our Compound clone. Thanks to the presence of tokens similar to that of COMP, an assortment of governance rights are designated to the holder. They can induce changes in the protocol through improvement proposals and on-chain voting. The proposal has a three-day voting period, and any address which is entitled to voting power can vote for or against the proposal (Veto). The proposed change/ plan needs at least a predetermined number of votes in order to get implemented, which otherwise is dropped.
Crypto Lending/ BorrowingUsers can storm into the platform and access the financial services of lending and borrowing of crypto assets, besides earning interest over their deposits.
Ultra-Responsive Web PanelSuffused with enormous channels of agility, the decentralized lending platform is extensively streamlined and easy to use. Anyone with a pair of eyes can tap into its benefits!
Uncomplicated KYCThe pristine fiscal nature of the platform is sustained through the enforcement of mandatory KYC/ AML screening. This way, any shade of phishing activity is eliminated!
ReferralPamper your users with surprising benefits as rewards for every single referral of their friends, family, and acquaintances into the DeFi lending/ borrowing program.
Voting RightsPossession of governance tokens enables a user to participate in the voting process and propose plans/ initiatives be implemented among the Compound clone’s ecosystem.
Recreating the conventional loan process in a way it resonates with the proceedings of the blockchain-mandated world remains the USP of a protocol like Compound. This creates an extremely attractive proposition for users and entrepreneurs alike. Why so? Take a peek!
The rising adulation in tokens like COMP speaks volumes about the global acceptance and popularity of DeFi lending protocols.
The diligent absence of intermediaries has worked wonders for the silo, and the capacity to earn a yield on crypto-assets appeals to a much broader user base.
Users are flattered with a considerably greater interest rate than they would usually get from depositing in conventional banks, leading to a win-win situation.
The associated perks bring in a massive influx of users, leading to enhanced commission rates and, consequently, increased profits.
A comprehensive suite of development services is what has made Appdupe the numero uno company in the axis of DeFi, besides mobile apps in general. Unlike others, we don’t outsource any verticals of the development process. Instead, we champion the cause of the in-house, holistic creation of a first-rate DeFi lending platform on the lines of Compound. Umteenth hours of market research, requirements gathering, designing, and developing has culminated in the form of the Compound clone script, liberating you from the nagging clutches of starting from scratch. With Appdupe at your side, you can sit back and witness your dream of getting actualized in the shortest time possible.
Requirement Analysis Our crew of customer relationship executives hangs out with you to scribe down your exact requirements, needs, expectations, and extended app vision.
Full-Fledged Planner Every single feature of your requirement is sieved and critically analyzed, which culminates in a comprehensive plan with precisely defined milestones and deliverables.
Designing Our crafty designers spill out their creative mastery to diligently wireframe and design the solution in its entirety and adopt internationally-acclaimed designing practices in the pursuit.
Development Tapping into path-breaking technologies, our coding exponents built the DeFi lending protocol with myriad features and wrapped them with tank-like functionality.
Testing The Compound clone script is subjected to some of the most stringent quality control techniques in order to confirm the non-existence of bugs/ glitches/ vulnerabilities.
Deployment We take the mantle of installing the solution on your preferred server without any cost. Similarly, we can gird up the utility of the DeFi protocol by developing a Dapp.
Appdupe’s Compound clone script is marinated with everything you’d expect in a world-class DeFi protocol.
DeFi Experience We drooled inside out of the decentralized financial system at its totality, when the entire world hadn't even heard its syllables. A decade-long experience is our standing testimony!
Agile Development With a holistic approach towards DeFi development, we always manage to deliver your solution on or before the mutually agreed deadline.
Completely Legal We ensure that the deliverables tick the complete iteration of legal and compliance regulations, eliminating even the minutest probability of getting phished.
Business-Grade Solutions Embedded with futuristic features, the Compound clone script is devised to ingress consistent returns on investment besides the opportunity to seize colossal profit.
360° Support From the moment of ideation to post-deployment, we express unwavering support across multiple assistance touchpoints. We value you more than anything else!
Plunging into the DeFi space requires assistance from a professional team who possess the right mix of audacity and ingenuity, just like Appdupe’s crew of in-house block geeks. Bestowing our global bandwagon of illustrious clients with state-of-art solutions, our DeFi developers quench their entrepreneurial narratives in the most effective means. Now is the best time to hire and onboard our blockchain masters, at a hiring rate, your eyes fail to believe. All that’s required is massive action!
We are available to discuss your project 24x7x365. Once we have an alignment about the details of the project, you are invited to see your requirements designed in front of your eyes at our development centre. Interact with our project manager, developers and designers regarding your platform. We will help you through the visa process and other travel hurdles.
Get your blockchain application development idea validated right away.