Overview
Compound (COMP) is the governance token of the Compound Protocol, a decentralized lending platform built on Ethereum. COMP holders can participate in decision-making processes, including proposing and voting on protocol upgrades.
Key Details
- Token Name: Compound
- Symbol: COMP
- Decimals: 18
- Total Supply: 10,000,000 COMP
- Contract Address:
0xc00e94Cb662C3520282E6f5717214004A7f26888
Core Features
1. Governance Rights
COMP token holders can:
- Propose changes to the Compound Protocol.
- Vote on proposals, influencing future upgrades.
2. Delegation
Users can delegate their voting power to other addresses without transferring tokens, enabling:
- Flexible participation in governance.
- Trustless delegation via signed messages (
delegateBySig).
3. Vote Tracking
- Current votes: Check live voting power (
getCurrentVotes). - Historical votes: View past voting power at specific block heights (
getPriorVotes).
Tokenomics
Supply Breakdown
- Fixed Supply: No additional minting.
- Distribution: Initially allocated to users, team, and investors.
Use Cases
- Governance: Direct protocol influence.
- Staking: Some integrations use COMP for staking rewards.
Security Audits
Compound's smart contracts underwent audits by OpenZeppelin (February 2020), ensuring robust security.
Frequently Asked Questions (FAQs)
1. How do I participate in Compound governance?
Hold COMP tokens and delegate voting power via the Compound Governance Dashboard.
2. Can I delegate votes without transferring tokens?
Yes! Use delegateBySig for secure, non-custodial delegation.
3. Where can I trade COMP?
COMP is listed on major exchanges like Binance, Coinbase, and OKX.
Conclusion
COMP is more than a token—it’s the backbone of decentralized governance for Compound. By holding COMP, you actively shape the future of DeFi lending.
Ready to dive deeper? Explore the Compound Protocol today!