The live Compound (COMP) price is $48.62, with a 24 hours Blynex trading volume of 20.85 K. The price of COMP changed by -7.03% in the past 24 hours. With a circulating supply of 8.84M COMP and a maximum supply of 10M COMP coins. COMP currently ranks #118 in market cap. You have the option to purchase Compound (COMP) on the Blynex exchange.
Compound (COMP) Live Price Data
Markets
Market | Price | 24h % | 24h High | 24h Low | 24h Volume | |
---|---|---|---|---|---|---|
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$48.6221 | -7.03% | 52.4068 | 48.4568 | 20.04 K | Trade |
About Compound (COMP)
Compound (COMP) is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform. Buying COMP on Blynex Exchange is easy: create an account, verify your identity, deposit funds, and start trading. Check out our guide on How to Buy Compound (COMP).
What is Compound (COMP)?
Compound is a decentralized finance (DeFi) protocol that enables users to earn interest on their cryptocurrency holdings by depositing them into specialized pools. This innovative platform eliminates intermediaries, offering both lenders and borrowers a streamlined way to interact with digital assets. When users deposit assets into Compound, they receive cTokens, such as cETH for Ethereum deposits. These tokens represent the user’s stake and accrue interest over time, enabling them to redeem more of the underlying asset than initially deposited. Borrowers, on the other hand, can secure loans by providing collateral, with loan-to-value (LTV) ratios ranging between 50% and 75%. While borrowing rates vary based on the asset, borrowers must maintain adequate collateral to avoid liquidation.
The Founders and Vision of Compound
Founded in 2017 by Robert Leshner and Geoffrey Hayes, both formerly of Postmates, Compound has grown into a key player in the DeFi space. Leshner, now CEO, has been an active advocate for blockchain innovation, while Hayes serves as CTO. Their mission was to mobilize idle cryptocurrencies, which often remain stagnant on exchanges, by creating an open and trustless lending platform.
Key Features of the Compound Protocol
Compound’s protocol allows users to easily earn or borrow cryptocurrencies in a trustless environment. Supported assets include Ethereum-based tokens, making it accessible to a wide range of users. As the deposited cryptocurrencies accrue interest, the exchange rate of cTokens increases relative to their underlying assets, delivering returns to depositors.
Community Governance with COMP Tokens
What truly sets Compound apart is its community-driven governance model. Using the native governance token, COMP, holders can propose, debate, and vote on protocol updates. This includes decisions on adding support for new assets, adjusting risk parameters, or modifying COMP token distribution mechanics. COMP tokens can be acquired via third-party exchanges or earned through participation in the protocol. This decentralized governance ensures the platform evolves in line with user needs and market dynamics, without requiring intervention from Compound Labs.
Compound’s Impact and Growth
Since the launch of its mainnet in 2018, Compound has grown exponentially, boasting over $800 million in total locked value (TLV). Its open lending model, secure collateralization, and governance capabilities have made it a leading name in the DeFi ecosystem. By allowing idle assets to generate returns and providing trustless lending solutions, Compound continues to empower users and advance the cryptocurrency space.COMP to local currency
- COMP to USD50.224
- COMP to EUR48.279
- COMP to AUD79.923
- COMP to KRW72,580.048
- COMP to JPY7,628.274
- COMP to GBP40.150
- COMP to INR4,389.044
- COMP to CAD71.904
- COMP to AED184.446
- COMP to RUB4,915.699
COMP to crypto currency
- COMP to BTC0.0005180316
- COMP to ETH0.0180739780
- COMP to USDT50.217
- COMP to BNB0.088
- COMP to SOL0.253
- COMP to XRP20.986
- COMP to ADA69.457
- COMP to TRX225.989
- COMP to LTC0.481
- COMP to TON13.227