#chainbase & $C Token is a blockchain-based utility token typically used within the Compound Protocol, a decentralized finance (DeFi) platform on Ethereum. In Compound, users lend or borrow cryptocurrencies, and in return, they receive cTokens (like cETH, cDAI, etc.). These cTokens represent a user's balance in the lending pool and automatically earn interest over time. For example, when you deposit DAI, you receive cDAI. As interest accrues, the value of your cDAI increases, allowing you to withdraw more DAI later. cTokens can also be transferred or used in other DeFi protocols.

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