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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.

0.011885 COMP = 1 AUD

Comp COMP	AUD Australian Dollar
0.01 Comp	0.8414 AUD
0.1 Comp	8.4141 AUD
1 Comp	84.1410 AUD
2 Comp	168.2819 AUD
3 Comp	252.4229 AUD
5 Comp	420.7048 AUD
10 Comp	841.4097 AUD
20 Comp	1682.8194 AUD
50 Comp	4207.0485 AUD
100 Comp	8414.0969 AUD
1000 Comp	84140.9694 AUD