Compound (COMP)

1. Compound information

First publication 2017
Block generation cycle 12 seconds
Total issuance limit 10,000,000
Consensus Protocol Proof-of-Work
Developer Robert Leshner and Geoffrey Hayes
Main homepage https://compound.finance/

2. Compound Overview

  • Since the launch of the Compound mainnet in September 2018, the platform has skyrocketed in popularity, and recently passed more than $800 million in total locked value.
  • Since the launch of the Compound mainnet in September 2018, the platform has skyrocketed in popularity, and recently passed more than $800 million in total locked value.

3. Characteristics of Compound

  • Compound aims to change the idle-sitting nature of cryptocurrencies by offering an open lending platform. This allows anybody who deposits supported Ethereum tokens to easily earn internet on their balance or take a secured loan.
  • Compound’s community governance is its most unique feature. COMP-holders can propose changes to its protocol, as well as debate and vote about implementing changes suggested by others, without involving the Compound team. COMP tokens can be bought from third-party exchanges or can be earned by interacting with the Compound protocol, such as by depositing assets or taking out a loan.