Compound Price（COMP）USD

What is Compound (COMP)?

Compound is a decentralized software protocol running on the Ethereum network. Its native erc-20 token, comp, is designed to stimulate a distributed computer network responsible for operating a completely decentralized traditional financial / banking market.

As one of the increasing number of Decentralized Finance (DFI) protocols, compound (COMP) can mortgage a variety of cryptocurrency assets to provide a variety of financial services. What this does in essence is to achieve complete decentralization and autonomous borrowing and lending.

In other words, the compound protocol allows users to deposit their cryptocurrency into a lending pool designed for other users. Lenders earn interest on their deposits. Once users deposit their cryptocurrency for lending, compound grants them a new cryptocurrency called ctoken. Examples of ctoken include ceth, CDAI, and cbat.

Users can transfer and trade their ctoken without restrictions, but it can only exchange the cryptocurrency locked in the protocol it represents. The composite protocol uses autonomous smart contracts to run the whole process, allowing users to withdraw their deposits at any time they choose.

 

COMP Tokens are in Circulation

Like Bitcoin, only a certain number of comp tokens will appear. The upper limit of total supply is 10million comps. At the time of writing, less than one third of the maximum supply was in circulation.

4.2 million tokens will be allocated to users of compound protocol within 4 years.  Approximately 2.4 million comps were allocated to the shareholders of compound labs, Inc. Another 2.2 million comp tokens will be allocated to the founders and the current compound team, with a 4-year vesting schedule.

Finally, 775000 comps are reserved to motivate community management, and the remaining 332000 tokens will be allocated to future team members. The exact comp generation rate will change over time, because comp holders / voters can change this rate through community governance proposals.

 

How Does Compound Protocol Ensure Security?

Since compound is a decentralized application (DAPP) running on the Ethereum network, it mainly guarantees security through Ethereum itself. Compound is able to run thanks to the smart contract, which allows the autonomous execution of every activity in its protocol. Compound’s future development and direction are also guaranteed through the governance system provided by its local comp token.

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