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What is the issue price of COMP coin? Introduction to the issue price and issue quantity of COMP coin
The issue price of Compound's (COMP) native token was $9.25 per token during its June 16, 2020 Initial Coin Offering (ICO).
Sep 30, 2024 at 04:53 pm
What is the Issue Price of COMP Coin?
1. Initial Coin Offering (ICO)
- COMP coin, the native token of the Compound protocol, was first offered through an Initial Coin Offering (ICO) on June 16, 2020.
2. Issue Price
- The issue price of COMP during the ICO was $9.25 per token.
3. Issue Quantity
- A total of 4,227,971.54 COMP tokens were issued during the ICO, representing approximately 4.4% of the total token supply.
4. Total Raised
- The ICO raised a total of $39 million for the Compound project.
5. Subsequent Price Performance
- After the ICO, the price of COMP coin experienced significant volatility and has since reached all-time highs of over $900.
Additional Information:
The COMP token distribution was as follows:
- 4% issued through ICO
- 26% allocated to the Compound team and advisors
- 6% reserved for future development
- 64% awarded to suppliers and borrowers using the Compound protocol
- The ICO was conducted in just 9 minutes, due to the high demand for the COMP token.
- The Compound protocol allows users to lend and borrow cryptocurrencies in a decentralized manner, earning interest on their deposits and potentially earning COMP tokens for participating in the network's governance.
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