How to Use Compound
Compound is a pioneer in DeFi lending. Compound V3 (Comet) offers simplified lending with major assets as collateral.
Compound V3 Features
Improvements over V2:- Single borrow asset per market
- Better liquidation protection
- Simpler interface
- Lower gas costs
Current Markets
| Market | Collateral | Borrow |
|---|---|---|
| . . . . | . . . . . . | . . . . |
| USDC.e (Arbitrum) | ETH, wstETH | USDC |
| USDC (Ethereum) | ETH, wBTC, COMP | USDC |
. -
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Step-by-Step Instructions
1
Go to Compound
Visit app.compound.finance and connect wallet.
Tips
- ✓Available on Ethereum and Arbitrum
2
Choose Market
Select USDC market on your preferred chain.
Tips
- ✓Arbitrum has lower gas fees
3
Supply Collateral
Deposit ETH, wstETH, or other accepted collateral.
Tips
- ✓Higher collateral = safer position
4
Borrow USDC
Borrow against your collateral. Watch your health factor.
Warnings
- ⚠Keep borrow well below max for safety
5
Monitor Position
Check liquidation price and adjust as needed.
Tips
- ✓Add collateral if price drops
6
Repay and Withdraw
Repay borrowed USDC to withdraw your collateral.
Tips
- ✓Repay a bit extra to cover accrued interest