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.
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.
The primary use cases for cUNI revolve around decentralised finance (DeFi) applications:
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.
The cUNI price is $0.53887647 AUD, representing a +0.26% from the day prior.
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The trading volume of cUNI (CUNI) is $111 AUD in the last 24hrs, representing a +0.26% from the day prior.
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.
The current market cap of cUNI (CUNI) is $17.0M AUD.
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.
The current circulating supply of cUNI (CUNI) is 39.1M.
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