Compound
COMP Price
Compound Finance is a decentralized Ethereum-based platform for interest-earning and borrowing using cryptocurrency. More
| Fully Diluted Valuation | $545.98M |
|---|---|
| 24H Trading Volume | $110.93M |
| 24H Low / High | $51.20 / $ 55.27 |
| Circulating Supply | 9.39 M |
| Total Supply | 10.00 M |
| Max Supply | 10.00 M |
| Categories | Paradigm Portfolio 16 more |
|---|---|
| Founder | Robert Leshner 1 more |
| Website | compound.finance |
| Socials | 2 more |
| Chains | Ethereum Ecosystem 9 more |
| Explorer | Nearblocks 9 more |
| Contracts |
0xc00....26888
9 more
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| Name | Pair | OG Score |
|---|
Launched in September 2018, Compound Finance has rapidly emerged as a pivotal player in the decentralized finance (DeFi) space. Founded in 2017 by Robert Leshner and Geoffrey Hayes, this Ethereum-based protocol revolutionizes how users earn interest and borrow against cryptocurrencies. By harnessing the power of smart contracts, Compound offers a transparent and algorithmic approach to interest rates, determined by the market's supply and demand dynamics.
At the heart of Compound's ecosystem are its lending pools, where users can deposit various cryptocurrencies to earn interest. In return, they receive cTokens like cETH or cDAI, which represent their stake and accrue interest over time. This system not only incentivizes lending but also allows users to borrow against a range of supported cryptocurrencies by posting collateral. Interestingly, the protocol's governance is largely decentralized, with COMP token holders having the authority to propose and vote on changes, further enhancing its community-driven ethos.
Compound’s uniqueness lies in its approach to utilizing cryptocurrencies that are often idle. By offering an open lending platform, it allows users to earn interest or secure loans in a trustless manner. With over $800 million in total locked value, its popularity underscores the growing trend towards decentralized financial solutions. The COMP token, pivotal to governance, can be earned through protocol interactions, highlighting an inclusive and participatory financial ecosystem.
Compound Finance stands out in the DeFi space for its decentralized lending and borrowing protocol on the Ethereum network, offering unique features like automated interest rates determined by market dynamics, reward distribution in COMP tokens for participation, and a community-driven governance model.
Compound was founded by Robert Leshner and Geoffrey Hayes in 2017, bringing their experience from high-profile roles at Postmates to the blockchain space.
Compound's investors include prominent names like Andreessen Horowitz and Bain Capital Ventures, reflecting the strong backing and confidence in its DeFi protocol.
You can buy Compound (COMP) on Binance, BitgetBybitOKXCoinbase cryptocurrency exchanges.
OGAudit is the first independent social audit platform for web3 projects and cryptocurrencies. Here you can find comprehensive crypto evaluations, ratings, unbiased and objective expert user reviews. There may be positive, negative, and neutral evaluations based on experts' experience and perspective with the product or the service about each cryptocurrency like Compound COMP. To access these ratings, evaluations, and comments, click here.
Compound (COMP) is not mineable. COMP tokens are governance tokens distributed to users based on their interaction with the protocol, such as lending or borrowing, rather than through a mining process.
There may be different staking options available such as to participate in DAOs, decentralized governance and for revenue sharing. Please watch out for scams. Only consider staking options promoted on the official website of the project and advised partners. Please click here to see the official links and make sure to follow the latest instructions.
This data is dynamic and varies depending on the number of tokens that are being vested/vesting, removed from circulation because of network transactions or burned permanently and staking reward distribution mechanism. According to self-declared data the circulating supply of Compound (COMP) is ($9,392,073), max supply of Compound COMP is ($10,000,000) and the market cap of Compound COMP is ($512,787,863).
What is the Compound (COMP) price prediction?
Predicting prices in the crypto market is highly speculative and can't be definitively stated. Various factors drive price movements such as macroeconomics, Bitcoin ($btc) and crypto market overall behavior, on-chain activity, whale positionings, growth potential of the project etc. We cannot give any price predictions nor financial advice, but you can look at our comprehensive data, expert user reviews and decide if the product suits your needs! Please do your own research DYOR!
The current market price of Compound (COMP) is $54. As the OGAudit community we mainly focus on features such as use cases, product development, and sustainable growth. However, we also provide real-time market data and coin/token statistics, analytics, price history for popular altcoins. see here.
It is important to do comprehensive research before deciding whether Compound (COMP) or any other cryptocurrency is a good investment. We believe you should ask each of these questions before deciding to invest or make partnerships with any crypto project:
Is this type of digital asset considered legal in your country?
Does Coin (Compound COMP) solve a good problem or offer the best solution?
Do products and services work effectively, and solutions are scalable?
Does the team have a realistic roadmap and can catch up with it?
Does Compound (COMP) have reasonable and sustainable revenue income models?
Can the team market their products and services well?
How decentralized is the governance and how strong is the community?
Has it reached its fair market value yet?
Does the coin/token have enough trading pairs and liquidity?
As the OGAudit community crypto experts, we evaluate crypto projects by asking each of these questions and more, to provide objective and reliable comments and ratings for the end-user, investors, and institutions. By carefully considering these reviews, ratings, and price action, you can decide whether Compound (COMP) is a good crypto to invest in or not. To access these evaluations and ratings please click here . The OGAudit experts are the largest, most experienced, and elite users in the crypto space. However, keep in mind that the scores, expert reviews and comments on our platform are OGAudit users’ personal views and meant for educational purposes only. None of the information we publish on our website contains any investment advice and should not be perceived as such. Always -DYOR- do your own research well.
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