The live price of Compound is $ -- (COMP/USDT) today with a current market cap of $ 486.13M. 24-hour trading volume is $ 24.82M. COMP to USDT price is updated in real-time. COMP is 0.00% in the last 24 hours. It has a circulating supply of 8.11M USDT.
COMP Market Information
Popularity
#145
Market Cap
486.13M
24h Volume
24.82M
Circulation Supply
8.11M
About(COMP)
Compound is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform.
To learn more about this project, check out our deep dive of Compound.
When a user deposits tokens to a Compound pool, they receive cTokens in return. These cTokens represent the individual’s stake in the pool and can be used to redeem the underlying cryptocurrency initially deposited into the pool at any time. For example, by depositing ETH into a pool, you will receive cETH in return. Over time, the exchange rate of these cTokens to the underlying asset increases, which means you can redeem them for more of the underlying asset than you initially put in — this is how the interest is distributed.
On the flip side, borrowers can take a secured loan from any Compound pool by depositing collateral. The maximum loan-to-value (LTV) ratio varies based on the collateral asset, but currently ranges from 50 to 75%. The interest rate paid varies by borrowed asset and borrowers can face automatic liquidation if their collateral falls below a specific maintenance threshold.
Since the launch of the Compound mainnet in September 2018, the platform has skyrocketed in popularity, and recently passed more than $800 million in total locked value.
FAQ About Compound (COMP)
What is Compound (COMP) Used For?
Compound decentralized finance platform uses $COMP as its network token. $COMP serves to incentivize borrowers to withdraw and repay loaned cryptocurrency funds as well as reward lenders who assist by making cryptocurrency assets available to borrowers through P2P network infrastructure design.COMP is also a governance token, giving holders the ability to vote on network decisions through voting systems. One notable aspect of governance decisions made through COMP voting systems involves percentage rates offered and produced on platforms.
How to Buy Compound (COMP)?
You can buy Compound (COMP) here on Toobit with USDT. Read our guide on How to Buy Crypto on Toobit for more information.
What Makes Compound Different From Others?
Compound, built on Ethereum is fully compatible to other dApps on the Ethereum platform. Users can access a variety of financial applications and services. Compound also provides access to a large pool of liquidity that makes it easier for users to find counterparties to their trades.Compound is a unique DeFi project because of its decentralized infrastructure and real-time interest rate. It also offers security, liquidity, and interoperability.
What is Compound (COMP) Price Now?
Are you looking for COMP Price? Live Compound price is updated in real-time on Toobit.
Where to Sell COMP?
You can sell COMP to USDT here on Toobit. Read our guide on How to Trade Spot on Toobit for more information.
