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The protocol is thought to have pioneered the tokenization of assets with cTokens<ref>https://decrypt.co/resources/compound-defi-ethereum-explained-guide-how-to</ref>, yield bearing tokens which can grow in value. | The protocol is thought to have pioneered the tokenization of assets with cTokens<ref>https://decrypt.co/resources/compound-defi-ethereum-explained-guide-how-to</ref>, yield bearing tokens which can grow in value. | ||
== Defi Summer == | |||
In the summer of 2020 Compound started its liquidity mining program, giving out COMP token as an incentive for users to lend and borrow tokens on its platform. This incentive program attracted huge liquidity on the protocol and kickstarted the "Defi summer", which saw an enormous amount of liquidity poured over into DeFi. Later, more and more protocols followed with their liquidity mining programs to attract liquidity on their platform. | |||
== Sources == | == Sources == | ||