Compound: Lending platform earning interest on crypto via smart contracts.
Compound is a decentralized protocol for lending and borrowing cryptocurrencies, governed by COMP token holders.
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What is Compound (COMP)?
Compound, established in 2017, is a decentralized finance (DeFi) protocol that enables users to earn interest by lending and borrowing various cryptocurrencies through lending pools. Functioning automatically via smart contracts on the Ethereum network, Compound's native token, COMP, adheres to the ERC-20 standard. The platform connects lenders and borrowers using these smart contracts. Lenders supply tokens to pools and receive cTokens (like cETH or cDAI) as interest-bearing representations of their deposits. Borrowers deposit collateral in cryptocurrency and can borrow other supported cryptocurrencies up to a percentage of their collateral's value. Compound rewards lenders with COMP tokens based on their cToken holdings and interest rates, which are influenced by asset supply and demand....
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Compound price live information
As of now, Compound is trading at 40.1325 USD, with a 24-hour trading volume of approximately 0 USD. The COMP to USD price is updated in real time. Over the past 24 hours, Compound has decreased by 0%. It remains the top-ranked cryptocurrency on CMC.IO, with a market capitalization of about 358.78M USD. Currently, there are 8 939 989 COMP in circulation out of a maximum supply of 10 000 000 COMP.
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