Compound price chart
What is Compound
COMP is the governance token which was launched by Compound, a DeFi lending platform, on 16 June 2020. The Compound platform is built on the Ethereum network and is intended to create functioning money markets for Ethereum assets.
The Compound platform uses cTokens and with these native tokens users can simply deposit ERC-20 tokens and receive representative cTokens which allow them to earn interest while also being able to use those funds in other applications.
Compound (COMP) is an ERC-20 asset which creates governance of the Compound platform; the holders of COMP tokens are able to vote on changes to the protocol or delegate these voting rights to an address of their choice.
The token ticker of Compound is COMP.
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