Compound (COMP)

Compound (COMP) is a decentralized finance (DeFi) platform that allows users to borrow and lend cryptocurrencies. It was created by Robert Leshner in 2018 and is built on the Ethereum blockchain. The goal of the platform is to provide users with a way to earn interest on their cryptocurrencies without having to rely on traditional financial institutions. COMP is the native governance token of the Compound platform. Holders of COMP are able to propose and vote on changes to the platform, including modifications to interest rates and collateral requirements. Users who provide liquidity to the platform receive COMP tokens as a reward, incentivizing participation in the network. Overall, COMP and the Compound platform have gained attention in the DeFi space for their ability to generate returns for users and for their decentralization and community-driven governance structure.