Cryptocurrency exchange OKEx has announced a new interface with decentralized finance (DeFi) giant Compound, allowing users access to the on-chain protocol.
According to a press release published September 7, the Malta-based exchange has interfaced with the Compound protocol via its Earn web feature. Clients of the exchange will now be able to subscribe BAT, DAI, ETH, USDC, USDT and ZRX through Compound’s on-chain protocol, allowing them to receive extra COMP tokens as a “bonus” for using the program.
Compound operates as an algorithmic money market protocol on ethereum’s blockchain which provides users the ability to earn interest on locked coins or borrow assets against collateral.
Jay Hao, CEO of OKEx, said it was one of the exchange’s “core missions” to broaden the appeal of decentralized finance by offering high-quality products to its userbase. He highlighted Compound as an integral part of the platform’s commitment to growing the industry of DeFi.
OKEx, which became the first exchange to list Curve (CRV), announced a wave of DeFi additions in mid-August, including Aave (LEND), Aragon (ANT) and Serum (SRM).
On Monday, the exchange announced the launch of OKExJumpstart, a new DeFi platform for yield farming crypto-assets.
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