### What is cUSDC?

cUSDC, or Compound USD Coin, is an interest-accruing token that represents a USDC deposit in the Compound lending market on the Ethereum blockchain.

### How does cUSDC work?

cUSDC functions as a stablecoin within the Compound protocol. Users can supply USDC to the protocol and receive cUSDC tokens in return. These tokens accrue interest over time based on the interest rate determined by the interaction of supply and demand within the Compound ecosystem. The interest accrual occurs when Ethereum addresses interact with the market's cToken contract.

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

cUSDC can be used for various applications, including lending, borrowing, and trading within the Compound ecosystem. Additionally, it serves as a stable store of value and offers interoperability with other Ethereum-based DeFi platforms, allowing users access to a broader range of financial services.

### What is the history of cUSDC?

cUSDC is part of the Compound protocol, which was launched in September 2018 by Robert Leshner. Significant milestones include the introduction of Compound III (Comet), which features a rebasing token cUSDCv3 and a new lending mechanism. It has evolved from a simple lending protocol to a more complex system with dynamic interest rates and is utilised in various DeFi platforms such as Uniswap and Reserve Protocol.

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