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What is the issuance amount of Compound(COMP) coins?
The total issuance amount of Compound (COMP) coins is 10,000,000, with 4,231,821 COMP coins issued as of March 8, 2023, and the remaining to be released gradually over the next four years.
Dec 10, 2024 at 07:23 am
What is the Issuance Amount of Compound (COMP) Coins?
Compound is a decentralized lending platform that allows users to borrow and lend cryptocurrencies. The platform uses a unique algorithm to set interest rates, based on supply and demand. COMP is the governance token of the Compound protocol. It gives holders the right to vote on changes to the protocol, and to receive a portion of the platform's revenue.
Issuance Amount of COMP Coins
The total issuance amount of COMP coins is 10,000,000. Of this amount, 4,231,821 COMP coins have been issued as of March 8, 2023. The remaining 5,768,179 COMP coins will be issued gradually over the next four years.
Token Distribution
The COMP coins were distributed as follows:
- 40% to the Compound community
- 25% to Compound Labs, the company that developed the Compound protocol
- 25% to investors
- 10% to advisors
Token Release Schedule
The COMP coins will be released on a monthly basis over the next four years. The number of coins released each month will decrease gradually over time. The following table shows the release schedule:
| Month | Number of COMP Coins Released |
|---|---|
| March 2020 | 423,182 |
| April 2020 | 423,182 |
| May 2020 | 423,182 |
| June 2020 | 423,182 |
| July 2020 | 423,182 |
| August 2020 | 423,182 |
| September 2020 | 423,182 |
| October 2020 | 423,182 |
| November 2020 | 423,182 |
| December 2020 | 423,182 |
| January 2021 | 423,182 |
| February 2021 | 423,182 |
Use Cases for COMP Coins
COMP coins can be used to:
- Vote on changes to the Compound protocol.
- Receive a portion of the platform's revenue.
- Be used as collateral for loans on the Compound platform.
- Be traded on cryptocurrency exchanges.
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