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What coin is COMP? COMP coin online trading platform, total amount detailed introduction

COMP, a decentralized finance token on the Compound protocol, enables users to earn rewards for providing liquidity and participate in the protocol's governance.

Oct 14, 2024 at 05:35 am

What is COMP?

Definition: COMP, also known as Compound, is a decentralized finance (DeFi) token native to the Compound protocol, a platform that allows users to lend and borrow cryptocurrencies.
Features: COMP holders have the ability to:
- Earn COMP rewards for providing liquidity to the Compound protocol.
- Govern the protocol's development and parameters through voting.
- Participate in protocol governance and fee distribution.
Tokenomics:
- Total Supply: 10,000,000 COMP
- Circulating Supply: Approximately 5.7 million COMP (as of June 2023)
- Distribution:
  - 42% allocated to users
  - 28% allocated to founders
  - 20% allocated to investors
  - 10% allocated to the ecosystem
Online Trading Platforms:

COMP can be traded on various online exchanges, including:

Coinbase
Binance
FTX
Kraken
Uniswap
Sushiswap

Price History:

COMP has experienced significant price fluctuations since its initial launch in June 2020.

All-time high: $985.09 on May 12, 2021
All-time low: $41.50 on March 12, 2020

Use Cases:

Beyond providing liquidity to the Compound protocol, COMP is also used for:

Governance: COMP holders can submit and vote on proposals to improve the protocol.
Collateral: COMP can be used as collateral for loans on other DeFi platforms.
Staking: COMP can be staked to earn additional rewards or voting power.

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