Easily Enable Users to Earn Interest from DeFi with Totle
Compound is Live on Totle
By being integrated with Compound, Totle can now acquire cTokens without exposing transactions to any slippage.
What is a cToken?
A cToken represents funds contributed to a lending pool. cTokens passively appreciate at a rate reflective of the interest being paid by borrowers. To collect your earnings from holding a cToken, simply sell the token on the open market for its current, increased value.
This offers consumers a way to earn interest on funds without needing to navigate much of the complexity that causes friction in the decentralized finance (DeFi) space.
cToken Interest Rates
A cToken’s interest rate fluctuates as the lending and borrowing demand for the underlying asset changes. To date, the most popular and profitable cToken has been cDai, which represents funds contributed to a Dai lending pool. Compound currently supports cTokens for BAT, Dai, ETH, REP, USDC, WBTC, and ZRX.
Earning Interest in DeFi is Simple
The average consumer is most familiar with earning interest by transferring funds into a savings account. With cTokens, there’s the opportunity to replicate a familiar and intuitive experience that your users will love.
We are particularly excited about creating an experience where users can make payments directly from cTokens earning interest without them needing to manually make a swap first! Totle Pay enables this by combing a swap and a payment into a single transaction; the outcome of swap is simply rerouted to a different address or smart contract.
We’ve designed Totle’s API to help developers easily add user-friendly DeFi services to any product. The better the customer experience, the easier growing a user-base becomes.
Add cTokens to your Product
To start building with Totle, access the API here: Totle Documentation
Schedule a call with us to learn more about building with Totle: Book a Call