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New Listing: Compound (COMP) Token

What is Compound? Compound is a DeFi platform that allows retail users to lend their coins to each other. The protocol is based on the Ethereum blockchain that establishes money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand for the asset.
Compound blockchain defi

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What is Compound?

Compound is a DeFi platform that allows retail users to lend their coins to each other. The protocol is based on the Ethereum blockchain that establishes money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand for the asset.

Compound is one of the most well-known names in DeFi. Its lending solution was one of the first (along with MakerDAO) to offer governance tokens to its users. Since it started distributing COMP tokens to its lenders and borrowers earlier this June, the platform has exploded, increasing its liquidity sixfold and becoming one of the largest DeFi applications.

What are the use cases of COMP?

The ability to seamlessly hold new assets (without selling or rearranging a portfolio) gives new superpowers to dApp consumers, traders, and developers: 

  • Without having to wait for an order to fill, or requiring off-chain behavior, dApps can borrow tokens to use in the Ethereum ecosystem, such as to purchase computing power on the Golem network
  • Traders can borrow Ether, using their existing portfolio as collateral
  • Traders looking to short a token can borrow it, send it to an exchange and sell the token, profiting from declines in overvalued tokens.

Where can you buy COMP?

COMP is now available for instant purchase via trading or on Liquid Buy and Swap, where Visa cards are accepted globally. Currently, available trading pairs are COMP/BTC, COMP/USDT.

Learn more about Compound at https://compound.finance/.

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