Compound is a decentralized governance platform that enables crypto to be sent and received. It has a base token called COMP which was built with the ERC-20 Ethereum standard. COMP is the governance token that operates voting privileges on the protocol. Smart contacts are used by the Compound network to hold onto digital assets and generate interest in them after a defined time. These interest rates are dependent upon the supply and demand of the current economy. Back in 2017, Robert Leshner and Geoffrey Hayes were the creative minds behind the founding of Compound COMP. It later officially aired a year later on the main Ethereum net. The base token of Compound, COMP enables its users to give any address of their preference “voting” privileges. The cost of the Compound token (COMP) was $139.83 on Dec. 23, 2020 and with a marketing capitalization of over $574.5 million (approx.).
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