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Compound vs Alchemy

Compound logo

Compound

Software

Autonomous interest rate protocol

From
Free
Rated
-
Full reviewWebsite
Alchemy logo

Alchemy

Software

The web3 development platform

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Compound compound is a decentralized, non-custodial protocol governed by COMP token holders rather than a company; interest rates on supplied and borrowed assets are set algorithmically by pool utilization rather than published as a price list, so there is no vendor pricing page to compare against; Alchemy the free tier is capped at 30M compute units a month and 25 requests per second
  • They diverge on capability: Compound covers Lending, Alchemy covers Node APIs.

Where they differ

Only the attributes on which Compound and Alchemy actually diverge.

Attributes where Compound and Alchemy differ
AttributeCompoundAlchemy
Pricing modelUnknownfreemium
PlatformsEthereumApi, Web

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Unknown), founded (2017).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Compound

  • Lending
  • Borrowing
  • cTokens
  • Governance
  • COMP Token
  • Ethereum

Only in Alchemy

  • Node APIs
  • Enhanced APIs
  • NFT API
  • Webhooks
  • Mempool
  • 35+ chains
  • SDKs
  • Api support

Both cover

  • Web support

What people use each for

The jobs each tool is most often brought in to do.

Compound

  • Decentralised finance (DeFi) lending and borrowing protocol on Ethereumnot Alchemy
  • Cryptocurrency collateral management for USDC borrowingnot Alchemy
  • Interest earning through crypto asset supplynot Alchemy
  • Algorithmic interest rate determination based on supply and demandnot Alchemy

Alchemy

  • Hosted blockchain node access across mainnets and testnetsnot Compound
  • Backing a production web3 application without running nodesnot Compound
  • Webhook-driven notifications for on-chain eventsnot Compound
  • Scaling read throughput beyond self-hosted node limitsnot Compound

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Compound

  • Compound is a decentralized, non-custodial protocol governed by COMP token holders rather than a company; interest rates on supplied and borrowed assets are set algorithmically by pool utilization rather than published as a price list, so there is no vendor pricing page to compare against

Alchemy

  • The free tier is capped at 30M compute units a month and 25 requests per second
  • Free accounts are limited to 5 apps and 5 webhooks
  • Beyond the free allowance it is $0.45 per 1M compute units for the first 300M a month
  • Request cost varies by call complexity, from around 10 compute units to over 100, so spend is hard to predict from request counts alone
  • Signed SLAs and priority support require an Enterprise contract

Pricing, plan by plan

Compound

Free

No published plan breakdown. See the Compound review.

Alchemy

Free
  • FreeFree
    • 300M compute units
    • 5 apps
    • Core APIs
  • Growth$49/month
    • 400M compute units
    • 15 apps
    • Enhanced APIs
  • Scale$199/month
    • 1B compute units
    • Unlimited apps
    • Premium support

Which should you pick?

Choose Compound if

  • You need lending.
  • You want to start without paying.
  • You work on Ethereum.
  • You also want borrowing.
Compound review

Choose Alchemy if

  • You need node apis.
  • You want to start without paying.
  • You work on Api, Web.
  • You also want enhanced apis.
Alchemy review

Questions people ask

Is Compound or Alchemy better?
Neither clearly leads. Compound starts at Free and Alchemy at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Compound or Alchemy?
Compound starts at Free and Alchemy at Free.
Does Compound or Alchemy run on more platforms?
Compound runs on Ethereum. Alchemy runs on Api, Web.
Can I use Compound for free?
Both have a free tier, so you can try either at no cost before committing.
What is Compound best used for?
Compound is most often used for decentralised finance (defi) lending and borrowing protocol on ethereum, cryptocurrency collateral management for usdc borrowing, interest earning through crypto asset supply, algorithmic interest rate determination based on supply and demand. Of those, decentralised finance (defi) lending and borrowing protocol on ethereum and cryptocurrency collateral management for usdc borrowing are not what Alchemy is typically brought in for.
What can Compound do that Alchemy cannot?
Compound covers Lending, Borrowing, cTokens, Governance. Alchemy covers Node APIs, Enhanced APIs, NFT API, Webhooks. Both handle Web support.
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