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What is Compound (COMP)?

Compound basic info

Name:Compound

Ticker:

COMPBuy now

Introduction:

Cryptocurrency Compound, popularly known as COMP, has emerged as a significant player in the decentralized finance (DeFi) space. Launched in June 2020, COMP quickly gained attention for its innovative and groundbreaking features. COMP is an ERC-20 token that powers the Compound protocol, a decentralized lending and borrowing platform built on the Ethereum blockchain. The platform allows users to lend or borrow various cryptocurrencies in a secure and transparent manner. One of the key features of COMP is that it introduces governance to the Compound protocol. COMP token holders have the power to influence the decision-making process by voting on important proposals and changes within the ecosystem. This decentralized governance model empowers the community and aligns the interests of all stakeholders. Another noteworthy aspect of COMP is its distribution mechanism. Initially, the protocol allocated a significant portion of the token supply to early users and supporters, including lenders and borrowers. This unique distribution model aimed to ensure a wide distribution of tokens and encourage active participation in the governance process. The COMP token plays a vital role in the Compound ecosystem. Holders of COMP can actively participate in governing the platform, voting on proposals, and shaping the future of the protocol. Furthermore, COMP holders are entitled to receive a share of the platform's revenue generated from borrowing and lending activities. Since its launch, COMP has gained substantial popularity in the DeFi space and has been listed on various cryptocurrency exchanges. Its innovative features, governance mechanism, and potential for earning passive income have attracted a growing community of users and investors. It is important to note that investing in COMP or any other cryptocurrency carries risks. The cryptocurrency market is highly volatile, and it is crucial for users to conduct thorough research and exercise caution before making any investment decisions. In conclusion, COMP is a significant cryptocurrency that has revolutionized the decentralized lending and borrowing space. With its governance features and unique distribution mechanism, COMP offers users an opportunity to actively participate in shaping the future of the Compound protocol while potentially earning passive income. However, it is important to stay informed about the risks associated with investing in cryptocurrencies and to make educated decisions.

Current price:

$82.45More price details

All-time high:$911.2

All-time low:$25.55

COMP supply and tokenomics

Circulating supply:8,865,198 COMP

Total supply:10,000,000 COMP

Max supply:0 COMP

Market cap:$730.94M

Fully diluted market cap:$824.51M

Token allocation:

Users of the Protocol

42.30%

Shareholders of Compound Labs, Inc.

23.96%

Founders & Team

22.26%

Community

7.75%

Future Team Members

3.73%

Tokenomics:

Uniqueness

According to Compound, the majority of cryptocurrencies sit idle on exchange platforms, doing nothing for their holders. Compound looks to change this with its open lending platform, which allows anybody who deposits supported Ethereum tokens to easily earn interest on their balance or take out a secured loan — all in a completely trustless way.

Compound’s community governance sets it apart from other similar protocols. Holders of the platform’s native governance token — COMP — can propose changes to the protocol, debate and vote whether to implement changes suggested by others — without any involvement from the Compound team. This can include choosing which cryptocurrencies to add support for, adjusting collateralization factors, and making changes to how COMP tokens are distributed.

These COMP tokens can be bought from third-party exchanges or can be earned by interacting with the Compound protocol, such as by depositing assets or taking out a loan.

Token utility

$COMP is an ERC-20 asset that empowers community governance of the Compound protocol; COMP token-holders and their delegates debate, propose, and vote on all changes to the protocol.

Token governance

$COMP allows the owner to delegate voting rights to the address of their choice; the owner’s wallet, another user, an application, or a DeFi expert. Anybody can participate in Compound governance by receiving the delegation, without needing to own $COMP.
Anybody with 1% of $COMP delegated to their address can propose a governance action, such as adding support for a new asset, changing an asset’s collateral factor, changing a market’s interest rate model, or changing any other parameter or variable of the protocol that the current administrator can modify.
Proposals are executable code, not suggestions for a team or foundation to implement.
All proposals are subject to a 3 day voting period, and any address with voting power can vote for or against the proposal. If a majority, and at least 400,000 votes are cast for the proposal, it is queued in the Timelock, and can be implemented after 2 days.

Links

Website:https://compoundlabs.xyz/

X:https://twitter.com/compoundfinance

GitHub:https://github.com/compound-finance/compound-protocol

Buy Compound for $1Buy COMP now

What is the development prospect and future value of COMP?

The market value of COMP currently stands at $730.94M, and its market ranking is #122. The value of COMP is widely recognized by the market. When the bull market comes, the market value of COMP will likely continue to increase.

Moreover, if COMP can play a greater role in practical applications, such as Compound builders fully leveraging the potential of COMP, partnering with more businesses, and increasing its user base, the long-term value of COMP will be significantly enhanced.

What will the price of COMP be in 2025?

Based on COMP's historical price performance prediction model, the price of COMP is projected to reach $95.16 in 2025.

What will the price of COMP be in 2030?

In 2030, the COMP price is expected to change by -6.00%. By the end of 2030, the COMP price is projected to reach $99.53, with a cumulative ROI of +24.70%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of COMP and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

COMP price COMP price prediction COMP news

Is COMP worth investing or holding? How to buy COMP from a crypto exchange?

If you want to buy COMP, the following information may be helpful for your investment decisions:

In the last 7 days, the price of COMP has fallen by -22.85%, leading to negative returns for most COMP investors. The market is currently pessimistic about the price trend of COMP.

It is important to note that the current price of COMP has retreated by -90.95% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether COMP is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in COMP or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of COMP, if you want to buy or sell COMP, you can consider Bitget for your trading needs. The best place to buy COMP is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in Compound has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Compound. Here's a step-by-step guide on how to buy Compound on Bitget.

Buy COMP now Coin buying guide

How to get Compound through other methods？

Using cash to buy Compound is not the only way to obtain Compound. If you have the time to spare, you can get Compound for free.

Learn how to earn Compound for free through the Learn2Earn promotion.

Earn free Compound by inviting friends to join Bitget's Assist2Earn promotion.

Receive free Compound airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to Compound through Bitget Convert, Bitget Swap, or spot trading.

What is Compound used for and how to use Compound?

The use case of Compound may expand as the crypto market and the project itself develop. Currently, you can use COMP to achieve the following goals:

Arbitrage by trading COMP: Since COMP is a frequently traded cryptocurrency, the price of COMP is always fluctuating. Earn more COMP by buying low and selling high on the exchange. Bitget spot market provides a variety of COMP trading pairs to fully meet your needs.

Earn by staking COMP: You can also generate income through financial management methods such as staking COMP or lending COMP. Bitget Earn offers a variety of financial products designed to help you earn more income from your COMP.

Send or pay COMP: If you want to give COMP to your friends, a charity, or a fundraiser, or you want to pay someone with COMP, you can quickly and easily send COMP to the recipient through their payment address.

You can also go to the official website of the Compound project to learn more about the use cases of COMP. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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