### What is cUSDC?

cUSDC is an interest-accruing token that represents a USDC (USD Coin) deposit in the Compound lending market. It is a stablecoin pegged to the US dollar and is built on the Ethereum blockchain. Acting as a form of collateral, it allows users to earn interest on a deposit as part of the Compound DeFi ecosystem.

### How does cUSDC work?

cUSDC operates on the Ethereum blockchain under the ERC-20 standard. When users deposit USDC into the Compound protocol, they receive an equivalent amount of cUSDC tokens. These tokens accrue interest over time based on the supply rate within the protocol. Interest rates are algorithmically determined based on the supply and demand dynamics of the marketplace. The compound system uses smart contracts for the management of these operations, enabling transparency and security in transactions.

### What are the potential use cases for cUSDC?

cUSDC has several use cases, primarily within the domain of decentralised finance (DeFi). These include:

- **Decentralised Lending and Borrowing:** Users can lend or borrow cUSDC within the Compound platform and across other DeFi protocols.
- **Stable Store of Value:** As a stablecoin pegged to the US dollar, it provides an option for storing value with low volatility.
- **Interest Accrual:** Users earn interest on their cUSDC holdings.
- **Yield Farming and Liquidity Mining:** cUSDC can be used in various strategies to maximise yields through liquidity provision.
- **Asset Management:** It can be included in passive indices, yield aggregators, and lotteries, or used as collateral in derivative markets.

### What is the history of cUSDC?

The history of cUSDC is intertwined with the development of both the Compound protocol and USDC. The USD Coin was launched in September 2018 by Circle and Coinbase through the CENTRE Consortium. Compound Finance, founded in August 2017, introduced its V2 protocol, enabling the creation of cUSDC. Over time, Compound III was launched, featuring enhancements like cUSDCv3, a rebasing token that continues to enhance interoperability with the DeFi ecosystem.

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