Buy cUNI
What is cUNI?
cUNI is a tokenized representation of UNI (Uniswap) deposits on the Compound Finance protocol, a decentralised lending and borrowing platform built on the Ethereum blockchain. This token accrues interest based on a dynamic rate, allowing users to earn yield on their deposited assets as part of the DeFi ecosystem.
How does cUNI work?
cUNI functions by representing UNI tokens deposited into the Compound Finance liquidity pool. Users deposit their UNI tokens, and in return, they receive cUNI tokens. These cUNI tokens accrue interest over time, thanks to a dynamic rate algorithm influenced by the utilization rate of the UNI pool. The higher the utilization rate, the higher the interest rate. Compound's smart contracts manage the entire process, from lending and borrowing to the accrual of interest, ensuring that all operations occur without intermediaries.
What are the potential use cases for cUNI?
The primary use cases for cUNI revolve around decentralised finance (DeFi) applications:
- Decentralised Lending and Borrowing: Users can lend their UNI tokens through cUNI and earn interest.
- Staking and Yield Farming: cUNI can be used in various DeFi platforms for staking and earning additional rewards.
- Liquidity Provision: Serve as a means to provide liquidity across DeFi platforms, enhancing the usability and earning potential for users.
- Diversified DeFi Investments: Allow investors to gain diversified exposure within the DeFi space efficiently.
What is the history of cUNI?
cUNI was developed by the team at Compound Finance as part of their protocol, which was launched in 2018 by Robert Leshner and Geoffrey Hayes. It was introduced to represent UNI tokens within Compound's ecosystem, facilitating the lending and borrowing of these assets. Over time, the protocol has evolved, incorporating numerous updates to boost security and efficiency, continuously integrating with platforms like Uniswap to enhance liquidity provision capabilities. The token remains a significant part of the DeFi landscape, leveraged primarily on platforms associated with Compound Finance and Uniswap.
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Frequently Asked Questions (FAQs)
What is the current price of cUNI (CUNI)?
The cUNI price is $0.53887647 AUD, representing a +0.26% from the day prior.
Where is the best place to buy cUNI (CUNI) in Australia?
The best place to buy cUNI (CUNI) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell cUNI (CUNI) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of cUNI (CUNI)?
The trading volume of cUNI (CUNI) is $111 AUD in the last 24hrs, representing a +0.26% from the day prior.
How can I buy cUNI (CUNI)?
cUNI (CUNI) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of cUNI (CUNI)?
The current market cap of cUNI (CUNI) is $17.0M AUD.
Can I convert cUNI (CUNI) to cash?
Yes - With Coinstash you can convert your cUNI (CUNI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many cUNI (CUNI) are there?
The current circulating supply of cUNI (CUNI) is 39.1M.
Is Coinstash a safe place to buy cUNI (CUNI) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling cUNI (CUNI) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.