COMP Compound

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About Compound

Compound is a system of openly accessible smart contracts. Built on Ethereum and founded in 2017, Compound uses cTokens as its native token to allow users to supply and borrow Ethereum tokens at variable interest rates. Founders Robert Leshner and Geoffrey Hayes both previously worked at Postmates, the online food delivery service company. The two hold executive positions at Compound Labs, Inc., the software development firm behind the Compound protocol. Leshner serves as CEO and Hayes serves as CTO. The company is headquartered in San Francisco, California. Compound stands out in that it allows users to earn interest on existing crypto assets rather than having investments sit dormant in wallets. Compound allows users to take out loans while also having the opportunity to act as a lender and provide loans. This is done by locking the user's crypto assets into the protocol. The rate of interest paid and received by borrowers and lenders is calculated based on the supply and demand of the locked crypto assets. The COMP token allows for community governance of changes to the Compound lending protocol. COMP is available to trade on hundreds of cryptocurrency exchange platforms. It can be traded against most other popular cryptocurrencies, as well as a range of fiat currencies. View COMP price movements on eToro today.
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