Cryptocurrency Knowledge

What is COMP?

Get to know COMP

Table of Contents

What is Compound (COMP)?

COMP is a regular cryptocurrency of the Compound protocol.
It is a decentralized finance (DeFi) platform that allows users to lend and borrow various digital assets.
COMP runs on the Ethereum blockchain through automated smart contracts to carry out the process of matching borrowers and lenders.
It includes the automatic setting of interest rates. For example, we can borrow USDC coins using other coins that we have as collateral.
To get the coins secured, simply use the borrowed USDC to pay back with interest. This loan will do everything automatically.

Native Blockchain:

COMP runs on the Ethereum network, a blockchain based on smart contracts and DeFi (Decentralized Finance) technologies.
Ethereum is a blockchain platform open to the development of smart contracts and decentralized applications.
Quale COMP è usato per gestire la lendazione e lending di assetti digitali

Founder/Date Founded:

Compound was founded in 2017 by Robert Leshner and Geoffrey Hayes.
Aimed at creating a decentralized financial system that allows users to access financial services without intermediaries.

Purpose/Use Case:

  • Lending and lending:Users can deposit their digital assets into Compound
    To earn interest or use digital assets as collateral to borrow other assets.
  • Supervision:COMP token holders have the right to vote on various important issues.
    Related to the development and operation of the Compound protocol
  • Motivazione:To promote use and participation, the Compound protocol distributes COMP tokens to users who perform various activities.
    such as depositing, lending, or participating in supervision.

Total Supply/ Limit or Unlimited:

A total supply amount of COMP is capped at $10 million, with tokens distributed to users through the use of the protocol.

Supply Deflation:

COMP non ha un meccanismo di combustione di coin-a, ma limitare la fornitura e distribuzione di tokena tramite l'uso del protocollo indirectly causata deflazione.
Owing to the limited supply of $10 million and increased demand, this could result in an increase in the value of COMP.

Zdroj:

coinmarketcap

docs.compound.finance

blog.compound.finance

github.compound

whitepaper.compound

medium.compound

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