Kryptopriser -c0x
czrx
c0x
NOK 0.0162
24t: 0.83%7d: -3.27%30d: -23.50%1y: -63.04%
NOK 0.0162
Compound (COMP) is an ERC-20 token that enables community governance of the Compound protocol. The protocol is a decentralized finance (DeFi) lending platform built on the Ethereum blockchain.
COMP token holders have the ability to propose, debate, and vote on changes to the Compound protocol. This includes parameters such as interest rates, collateral requirements, and supported assets. The more COMP a user holds, the more voting power they possess.
The Compound protocol allows users to supply cryptocurrencies to liquidity pools and earn interest, or borrow cryptocurrencies by providing collateral. Interest rates are determined algorithmically based on supply and demand within each market.