Is my money safe when using Compound?
Yes, your money is safe when using Compound.
Compound is a decentralized finance (DeFi) protocol that allows users to lend and borrow cryptocurrencies. It uses smart contracts on the Ethereum blockchain to ensure that all transactions are secure and immutable. All funds are held in a smart contract, which is secured by the Ethereum network.
This means that no one can access or move your funds without your permission. Furthermore, Compound has implemented several security measures to protect user funds, such as two-factor authentication and an audit system for its smart contracts. Additionally, Compound is also regulated by the U.
S. Securities and Exchange Commission (SEC), which provides additional protection for users’ funds.
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