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Compound (COMP) is an algorithmic interest rate market where users can deposit cryptocurrency and start earning a return on it. Digital assets are deposited into lending pools, which can then be accessed by borrowers.
Individuals can turn to Compound to earn interest on their cryptocurrency, while supplying liquidity, and developers can tap into Compound for a source of liquidity, while further bolstering the Compound platform. The idea is that many people will be accessing the underlying Compound platform through many different applications, and that it will become an important tool underlying many other parts of the DeFi ecosystem. To this end, Compound aims to become more resilient and open by decentralising its governance across a community of token holders.
There are two different tokens that are key to the Compound platform. Those that put their tokens in the Compound lending pool are rewarded with a cToken, which correlates to the amount of crypto they’ve deposited for lending. These tokens are transferrable for other cTokens, but can only be exchanged for the original locked-up asset. Holders of cTokens will then receive interest in the form of COMP tokens, depending on how many cTokens they have in their wallet.
Compound (COMP) is the 138th largest cryptocurrency in the world by market cap, valued at $297,191,347. The current price of Compound is $43.2, which is -6.190% lower than yesterday. Prices have ranged between $46.3 and $43.11 over the past 24 hours. All prices are listed in US dollars and accurate as of March 21, 2023 08:03 UTC.
| Coin symbol | COMP |
|---|---|
| Coin Marketcap | US$297,191,347 |
| Total COMP supply | 10,000,000 |
| Circulating COMP | 6,856,086 |
| Current price | US$43.2 |
| All time high | US$910.54 |
| All time high date | May 12, 2021 |
| Notable team members | Geoffrey Hayes, Robert Leshner |
| Partnerships | Coinbase |
| Industry | Decentralised lending |
| Token uses | Rewards, governance |
| Network | Ethereum |
Historical prices compared with the price of US$43.2.
| 1 hour | -0.76% |
|---|---|
| 24 hours | -6.19% |
| 7 days | -3.89% |
| 14 days | -6.89% |
| 30 days | -21.18% |
|---|---|
| 60 days | -10.66% |
| 200 days | -10.22% |
| 1 year | -62.49% |
Disclaimer: Cryptocurrencies, including Compound, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of COMP is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Compound or any other cryptocurrency discussed.
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