COMP

Compound price

COMP
|
3.8/5
CyberScope
4.3
05/19/2024
TokenInsight
3.2
10/22/2022
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USD
USD
$55.5400
+0.94%
1h
24h
1W
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Compound price live data

The current price of Compound is $55.5400. Since 00:00 UTC, Compound has increased by +0.95%. It currently has a circulating supply of 6,856,086 COMP and a maximum supply of 10,000,000 COMP, giving it a fully diluted market cap of $380.72M. At present, Compound holds the 99 position in market cap rankings. The Compound/USD price is updated in real-time.

Compound price performance in USD

Time periodChange amount%Chg
Today$0.52000 +0.94%
7 days-$2.0500 -3.56%
30 days$0.50000 +0.90%
3 months-$4.0900 -6.86%

Compound market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$54.4000
Last price $55.5400
24h high$56.5100
Heat index ranking
148
Market cap ranking
99
Market cap
$380.72M
Favorited rate
Percentage of users who favorited this asset to all users
1.96%
All-time high
$911.64
-93.91% (-$856.10)
May 12, 2021 (3 years ago)
All-time low
$22.7600
+144.02% ($32.7800)
Jun 10, 2023 (11 months ago)
ICO date
06/16/2020
ICO price
The price at which this crypto was first traded
$244.50
Circulating supply
The amount of this crypto that is publicly available in the market
6,856,086 COMP
Market cap at circulating supply
Market cap = Circulating supply × Last price
$555.30M

About Compound (COMP)

Compound (COMP) is a cryptocurrency that plays a significant role in shaping the future of borrowing and lending protocols within the decentralized finance (DeFi) industry.

What is Compound

Compound is a prominent DeFi protocol that utilizes its native token, COMP, as an integral part of its platform. COMP enables users to access and utilize the services offered by Compound seamlessly. One of the critical features of COMP is its governance functionality, which empowers token holders to participate in the decision-making process actively. By holding COMP tokens, users have the authority to propose and vote on modifications and improvements to the protocol, allowing them to shape its future development.

The Compound team

The Compound team comprises blockchain programmers and entrepreneurs driven by a shared vision of establishing an efficient and accessible financial system. Robert Leshner leads the team, bringing expertise in economics and finance to the table. The team has achieved remarkable milestones, securing more than $8 million in funding from prominent stakeholders. Currently, the Compound protocol manages assets valued at over $1 billion, showcasing the team's success in building a robust and trusted platform.

How does Compound work?

Compound operates as a DeFi protocol that facilitates the lending and borrowing of cryptocurrencies. Built on the Ethereum blockchain, users can engage in these activities transparently and securely. 

The platform's native token, COMP, serves dual purposes: governance and incentives. COMP holders have the power to propose and vote on changes to the protocol, shaping its future. Additionally, COMP is a reward mechanism, encouraging users to supply assets or borrow against collateral. This incentivizes participation and contributes to the platform's overall functionality.

Compound’s native token: COMP

Compound's native token, COMP, plays a crucial role in the ecosystem by serving multiple functions. With a maximum supply of 10 million, COMP operates on the Ethereum blockchain as an ERC-20 token. It is used for governance and liquidity mining rewards within the Compound platform.

COMP token holders can propose and vote on modifications to the protocol, actively participating in the decentralized governance of the platform. This empowers the community to shape the future direction of Compound.

Additionally, COMP tokens are utilized as incentives for users who engage in the liquidity mining program of the DeFi protocol. By providing liquidity to the platform, users can earn COMP tokens as rewards, further enhancing participation and liquidity within the ecosystem.

How to stake COMP

To stake COMP tokens and maximize rewards, COMP holders should purchase COMP from reputable cryptocurrency exchanges like OKX TR. If an account still needs to be established, registration should be completed, along with the setup of an ERC-20 wallet. 

Once these steps are taken, the COMP tokens can be sent to the chosen staking platform, such as OKX TR Earn, which offers a flexible staking setup. The next step involves confirming the desired amount of COMP to stake and selecting the Subscribe button to initiate the staking process.

COMP use cases

The COMP token has multiple use cases within the Compound ecosystem and the broader DeFi sector. COMP holders can participate in the Compound protocol's governance by suggesting proposals and voting on important decisions. Additionally, they can earn rewards by participating in DeFi programs or staking their COMP tokens.

Distribution of COMP

The distribution of COMP tokens is as follows:

  • 50 percent of the tokens are allocated to Compound's liquidity mining program.
  • 25 percent is reserved for the Compound team and advisors.
  • The remaining 25 percent is set aside for future needs within the Compound ecosystem.

What does the future hold for Compound

The future of Compound holds plans for platform expansion, encompassing stablecoins, fiat currencies, and additional cryptocurrencies. Geographically, Compound aims to extend its presence to promising regions like Asia and Latin America. Furthermore, the team intends to introduce new DeFi products and services, including derivatives and financial markets, and forge partnerships with other DeFi protocols.

COMP FAQ

What is Compound?

Compound is a decentralized finance (DeFi) platform facilitating cryptocurrency lending and borrowing. It operates through the use of a governance token called COMP.

What are the utility and benefits of holding COMP?

Holding COMP offers several utilities and benefits within the Compound ecosystem. COMP holders can participate in liquidity farming programs and stake their tokens on platforms like OKX TR Earn to earn rewards. Additionally, COMP can be used for decentralized borrowing and lending on the Compound platform. Furthermore, COMP holders can engage in governance by proposing and voting on protocol changes, influencing the direction and development of the ecosystem.

Where can I buy COMP?

Easily buy COMP tokens on the OKX TR cryptocurrency platform. Available trading pairs in the OKX TR spot trading terminal include COMP/USDT and COMP/USDC.

You can also buy COMP with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.

You can also swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for COMP with zero fees and no price slippage by using OKX TR Convert.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into COMP, visit the OKX TR Crypto Converter Calculator. OKX TR's high-liquidity crypto exchange ensures the best prices for your crypto purchases.

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1 COMP ≈ $55.5400 USD
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