Compound
About Compound
The price of Compound (COMP) is $44.23 today, as of Sep 19 03:14 p.m., with a 24-hour trading volume of $42.56M. Over the last 24 hours, the price has increased by 6.24%. Compound currently has a circulating supply of 8.78M and a market cap of $388.43M.
COMP is the native cryptocurrency of Compound, a DeFi (decentralized finance) lending platform that allows users to borrow or earn interest for lending their cryptocurrencies. It lives on Ethereum, the second-largest blockchain in the world after Bitcoin.
Compound’s token COMP has a hard cap of 10 million total tokens. Forty-two percent of the tokens will be distributed through the protocol to users, and each day, 2,312 COMPs are distributed. That will keep going until the year 2024 when the distributions will stop.
The rest of the tokens are divided as follows: 24% goes to shareholders of Compound Labs, the firm steering the lending platform and matching token. Roughly 22% goes to the Compound founders and staff. Almost 8% goes to those who participate in the project’s governance, and about 4% goes to future Compound staff members.
The token is a “governance token,” meaning users who hold the tokens can use them to vote on important changes to the protocol.
After COMP was launched in June 2020, it peaked at $337.05, according to CoinMarketCap. But the price ebbed after that, bouncing between $80 and $250 for the remainder of 2020.
COMP’s price reached its all-time high of $854.48 in May 2021 during a crypto-wide bull run, before it fell swiftly to $342.96 on May 22 and hit a low of $221.85 on June 20, 2021. Since then, the price has been hovering between $200 and $500 (as of November 2021), reaching a peak of $508.91 in September 2021.