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Software · head to head

Compound vs Rainbow

Compound logo

Compound

Software

Autonomous interest rate protocol

From
Free
Rated
-
Full reviewWebsite
Rainbow logo

Rainbow

Software

The fun, simple, and secure Ethereum wallet

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; Rainbow free instant deposits and fee auto-compounding are gated behind the paid Rainbow Black tier; the vendor's own site states "Upgrade to Rainbow Black for free instant deposits, bigger rewards, and up to 100% of your trading fees auto-compounded", implying standard accounts pay deposit and trading fees
  • They diverge on capability: Compound covers Lending, Rainbow covers Ethereum Wallet.

Where they differ

Only the attributes on which Compound and Rainbow actually diverge.

Attributes where Compound and Rainbow differ
AttributeCompoundRainbow
Pricing modelUnknownfree
PlatformsEthereumIos, Android, Chrome
Founded20172019

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

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
  • Web support

Only in Rainbow

  • Ethereum Wallet
  • NFT Gallery
  • ENS Integration
  • Layer 2 Support
  • Swaps
  • Optimism
  • Arbitrum
  • Base

Both cover

  • Ethereum

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 Rainbow
  • Cryptocurrency collateral management for USDC borrowingnot Rainbow
  • Interest earning through crypto asset supplynot Rainbow
  • Algorithmic interest rate determination based on supply and demandnot Rainbow

Rainbow

  • Walletsnot Compound
  • Ethereumnot Compound
  • Mobilenot 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

Rainbow

  • Free instant deposits and fee auto-compounding are gated behind the paid Rainbow Black tier; the vendor's own site states "Upgrade to Rainbow Black for free instant deposits, bigger rewards, and up to 100% of your trading fees auto-compounded", implying standard accounts pay deposit and trading fees

Pricing, plan by plan

Compound

Free

No published plan breakdown. See the Compound review.

Rainbow

Free
  • FreeFree
    • Ethereum wallet
    • NFTs
    • ENS

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 Rainbow if

  • You need ethereum wallet.
  • You want to start without paying.
  • You work on Ios, Android, Chrome.
  • You also want nft gallery.
Rainbow review

Questions people ask

Is Compound or Rainbow better?
Neither clearly leads. Compound starts at Free and Rainbow at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Compound or Rainbow?
Compound starts at Free and Rainbow at Free.
Does Compound or Rainbow run on more platforms?
Compound runs on Ethereum. Rainbow runs on Ios, Android, Chrome.
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 Rainbow is typically brought in for.
What can Compound do that Rainbow cannot?
Compound covers Lending, Borrowing, cTokens, Governance. Rainbow covers Ethereum Wallet, NFT Gallery, ENS Integration, Layer 2 Support. Both handle Ethereum.
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