Founded in 2017, Compound is an autonomous interest-rate capital market protocol built on the Ethereum network. Users may earn interest on their cryptocurrency by putting it in one of the platform's pool.
Within Compound, individuals can offer tokens to generate yield, while borrowers can provide assets that are used as collateral to borrow other assets. Borrowing and lending rates are calculated using an algorithm that is based on real-time market dynamics.
COMP is the native governance token for the Compound platform. All COMP holders have the right to vote on the platform's future direction, as well as gain an inside peek into the platform's protocol, treasury, and other internal workings.
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