Currently available in the United States; coming soon in 31 countries in Europe.

Currently available in the United States; coming soon in 31 countries in Europe.

Currently available in the United States; coming soon in 31 countries in Europe.

Compound (COMP)

Not currently supported on BlockCard; data on currently unsupported cryptocurrencies is included for your convenience.

Compound, founded by the economist Robert Leshner, is a decentralized finance (DeFi) protocol. It is a system of accessible smart contracts built on the Ethereum blockchain. Compound allows lenders to provide loans, and borrowers to take them out, by locking their respective crypto assets in the protocol. Its native token, cToken, enables users to earn interest, transfer, and trade their money.

CTokens get created each time a user deposits their crypto assets into Compound’s protocol. They will automatically receive the cToken version of the deposited currency as collateral when making a deposit. Anyone can create cTokens using an Ethereum wallet and any of the crypto assets that Compound accepts. These tokens automatically earn the user interest, and they can be redeemed for the corresponding cryptocurrency at any time.

The interest rates are determined by supply and demand, changing with each block that gets mined.

Compound (COMP) To USD | COMP Conversion Calculator

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What is Compound (COMP)?

Other than earning interest on your crypto assets, Compound allows you to borrow crypto. Your collateral has to stay above a minimum amount when borrowing these assets, or else Compound will liquidate your collateral to repay the loan. Once loans get paid back, the locked assets are allowed to be withdrawn at any time.

When a user’s crypto assets get converted into an ERC20 compatible form, they are freely tradeable and movable. They also become available for use in and other decentralized applications. This allows the ability to combine different protocols and building blocks, the most significant DeFi protocols feature.

Compound (COMP) Market Price Ticker Chart

About Compound (COMP)

Compound focuses on helping people have better control and more access to their crypto assets while they earn and save. They aim to be completely decentralized over time and transfer authority of the protocol to the Decentralized Autonomous Organization (DAO), which is governed by the community.

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