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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.

0.012825 COMP = 1 AUD

Comp COMPAUD Australian Dollar
0.01 Comp0.7797 AUD
0.1 Comp7.7970 AUD
1 Comp77.9702 AUD
2 Comp155.9403 AUD
3 Comp233.9105 AUD
5 Comp389.8508 AUD
10 Comp779.7016 AUD
20 Comp1559.4032 AUD
50 Comp3898.5079 AUD
100 Comp7797.0158 AUD
1000 Comp77970.1578 AUD