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What is COMP coin? Introduction to the issue price, total amount and white paper of COMP coin
COMP Coin, the governance token of the Compound protocol, empowers holders to shape the platform's decisions and earn rewards for their participation in liquidity mining.
Oct 02, 2024 at 10:48 am
What is COMP Coin?
1. Definition
COMP coin (Compound) is a decentralized finance (DeFi) token that governs the Compound protocol, which allows users to lend and borrow cryptocurrencies. COMP holders can vote on protocol changes, participate in protocol governance, and earn rewards through liquidity mining.
2. Tokenomics
Issue Price: $9 at its initial offering (June 2020)
Total Supply: 10,000,000 COMP (capped)
3. White Paper
The Compound white paper, titled "Compound: An Open Source Protocol for Building Decentralized Financial Applications," was published on July 31, 2018, outlining the protocol's architecture, features, and governance model.
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