COMP is the governance token for Compound, a major DeFi initiative that enables users to borrow and lend crypto tokens. Users lock tokens to make different assets available for other users, and are paid for providing liquidity. Borrowers have to pay to borrow tokens against collateral assets they have locked. The fees paid by borrowers, and the rewards paid to lenders, are set by supply and demand for different assets.

What is Compound?

Users are paid in COMP tokens to incentivise both borrowing and lending. Compound’s move to reward both borrowers and lenders started the yield farming craze in DeFi, since any kind of activity on the platform would be rewarded with COMP, and users could maximise their returns by switching to the most lucrative assets to borrow/lend. As they receive COMP, this also makes them eligible to vote on changes to the platform and influence various parameters and decisions taken by Compound. Since Compound began distributing its governance token in this way, many other DeFi initiatives have begun to do the same.

Market Cap:

0.001383 Compound = 1 Australian Dollar (AUD)

COMP [Compound]AUD [Australian Dollar]
0.01 Compound=7.2309 Australian Dollar
0.1 Compound=72.3087 Australian Dollar
1 Compound=723.0865 Australian Dollar
2 Compound=1446.1730 Australian Dollar
3 Compound=2169.2595 Australian Dollar
5 Compound=3615.4326 Australian Dollar
10 Compound=7230.8651 Australian Dollar
20 Compound=14461.7303 Australian Dollar
50 Compound=36154.3256 Australian Dollar
100 Compound=72308.6513 Australian Dollar
1000 Compound=723086.5125 Australian Dollar