All about COMP, the native token of the Compound protocol
Jun 07, 2023
COMP is the token of the DeFi platform Compound that lends cryptoassets. The platform rewards people who offer their assets for granting these loans, which guarantees the platform's liquidity (c...
What you need to know about COMP
What are the differences between Compound and COMP?
Compound is the name of the protocol, while COMP is the name of the governance token for that protocol. Compound takes its name from the English for compound, in reference to compound interest. The idea of the platform is to offer loans at lower interest rates and reward users who want to offer their assets for loans on DeFi platforms.
What is the price/value of COMP crypto?
In June 2022, the price of a COMP unit was approximately 48 USD, subject to market volatility, which may vary upwards or downwards. In addition, there is a maximum supply limited to 10 billion COMP units, of which approximately 7.2 billion units, or 72%, are already in circulation.
What to expect for COMP crypto?
As the native token of the Compound platform, the future of COMP depends in part on the performance of its platform to deliver services efficiently. Among other factors, reward rates for who offers assets such as Compound liquidity could be a factor driving demand for the COMP governance token. In addition, market factors such as supply and demand for the token can also positively or negatively affect the performance of COMP.
Where to buy and sell COMP?
You can purchase COMP on Compound's own dApp, or on exchanges like Bitso. At Bitso, you can buy COMP on our website or app. Just register on any of our platforms, make an initial deposit of 5 USD and convert it to COMP. Take a look at the other cryptoassets we offer. If you have any questions, our team of experts is here to help you.