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$0.57 (1.15%)

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About Compound (COMP)

The Compound Protocol is an open-source platform for decentralized lending. The system is built on the Ethereum network and allows participants to lend and borrow various cryptocurrencies (i.e. BAT, DAI, ZRX, etc.). The tokens that result from these individually pooled assets are collectively referred to as “cTokens”. Holders of a supported asset can deposit their token into a Compound smart contract to join a liquidity pool and start earning interest. The interest comes from other users that borrow funds and pay interest for the loans.

The key programmatic function of COMP is governance. Holding COMP allows users to vote in changes to the protocol. Anyone holding COMP is able to submit a proposal to the community for a vote. In order to be moved to a vote, and to prevent spam, 1% of COMP holders must support a given change to the protocol, such as a new asset supported, or similar governance change. Anyone holding COMP is eligible to vote on a given proposal over a three-day voting period. If a given governance change is passed, then it will take effect two days later therefore giving anyone with a negatively affected position the time to close out that position.

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Compound Blogs

Blog 063023

Weekly Market Update - Friday, June 30, 2023

Team Gemini9 min read

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Token Spotlight: Compound (COMP)

Team Gemini3 min read

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Compound links and resources

The whitepaper

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Learn more about Compound on cryptopedia

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