The cUNI project is an integral part of the Compound ecosystem, which offers decentralized financial services on the Ethereum blockchain. Compound itself is a leading DeFi protocol that enables users to lend out or borrow cryptocurrencies in a trustless manner. Users can earn interest on their assets by supplying them to the platform, and in return, they can borrow against crypto assets they already hold.
cUNI is the ERC-20 token representing the underlying assets that users deposit into Compound. Its primary purpose is to facilitate governance within the Compound protocol, allowing holders to vote on important decisions regarding the future of the platform. Overall, cUNI aims to empower users by giving them a stake in the decision-making process of the Compound ecosystem.
As an average user, understanding the role of cUNI is essential to navigating the world of decentralized finance. By participating in Compound, users are not only able to grow their assets but also influence the direction of this innovative platform.