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What coin is COMP? COMP coin online trading platform, total amount detailed introduction
COMP, a decentralized finance token on the Compound protocol, enables users to earn rewards for providing liquidity and participate in the protocol's governance.
Oct 14, 2024 at 05:35 am
What is COMP?
- Definition: COMP, also known as Compound, is a decentralized finance (DeFi) token native to the Compound protocol, a platform that allows users to lend and borrow cryptocurrencies.
Features: COMP holders have the ability to:
- Earn COMP rewards for providing liquidity to the Compound protocol.
- Govern the protocol's development and parameters through voting.
- Participate in protocol governance and fee distribution.
Tokenomics:
- Total Supply: 10,000,000 COMP
- Circulating Supply: Approximately 5.7 million COMP (as of June 2023)
Distribution:
- 42% allocated to users
- 28% allocated to founders
- 20% allocated to investors
- 10% allocated to the ecosystem
- Online Trading Platforms:
COMP can be traded on various online exchanges, including:
- Coinbase
- Binance
- FTX
- Kraken
- Uniswap
- Sushiswap
- Price History:
COMP has experienced significant price fluctuations since its initial launch in June 2020.
- All-time high: $985.09 on May 12, 2021
- All-time low: $41.50 on March 12, 2020
- Use Cases:
Beyond providing liquidity to the Compound protocol, COMP is also used for:
- Governance: COMP holders can submit and vote on proposals to improve the protocol.
- Collateral: COMP can be used as collateral for loans on other DeFi platforms.
- Staking: COMP can be staked to earn additional rewards or voting power.
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