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COMP

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.

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What is COMP?

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.

0.013761 COMP = 1 AUD

Comp COMPAUD Australian Dollar
0.01 Comp0.7267 AUD
0.1 Comp7.2669 AUD
1 Comp72.6691 AUD
2 Comp145.3382 AUD
3 Comp218.0073 AUD
5 Comp363.3454 AUD
10 Comp726.6908 AUD
20 Comp1453.3817 AUD
50 Comp3633.4542 AUD
100 Comp7266.9085 AUD
1000 Comp72669.0849 AUD