Name: Composition
Ticker: COMP
Algorithm: ERC-20
Sector: Financial sector service
Exchanges: Binance, Coinbase, OKX, Bybit, Huobi, KuCoin, FTX, Kraken, Gemini, Gate.io, Bittrex, Bitstamp
Compound is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform.
When a user deposits tokens into a Compound pool, they receive cTokens in return. These cTokens represent the depositor's share of the pool and can be used at any time to redeem the underlying cryptocurrency originally deposited in the pool. For example, if you deposit ETH into the pool, you will receive cETH in return. Over time, the exchange rate of cTokens to the underlying asset increases, meaning that you can exchange them for more of the underlying asset than you originally deposited - this is how interest is distributed.
Below are a number of important metrics, all of which are accurate as of August 19, 2022.
Price: 52,06$
Circulating Supply: 6,856,085 COMP (source)