Ledger has now introduced the new Ledger “Lend” feature, giving you access to the Compound lending services, directly through Ledger Live. With Ledger Live and Compound integration, you are able to lend your DAI, USDT, or USDC and earn interest for it. Lending is yet another way to grow your digital assets and you can lend cryptocurrencies to borrowers in exchange for interest payments.
With Lend, your tokens are secured within the safety of your Ledger hardware wallet. Ledger gives you full control over your crypto – on top of lending, you can also manage, buy, sell, or stake your crypto anywhere with only one app, Ledger Live.
Ledger Lend and Compound
Compound is a decentralized and open-source protocol that gives you the possibility to lend digital assets. When lending, you deposit your tokens into the compound smart contract. In exchange, you get cTokens which represent the claim to your lent assets and interests.
When lending with Ledger, your cTokens are secured by your hardware wallet which means no one can claim your assets while lending them. When you want to get your assets and interests back, you basically send your cTokens back to the smart contract and get the associated assets in return.
Ledger gives you full control over your crypto. On top of lending, you can also manage, buy, sell, swap or stake your crypto anywhere with their management app, Ledger Live.