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Information about Compound (COMP)
Compound is a decentralized finance (DeFi) platform built on the Ethereum Blockchain. The platform is mainly focused on helping users earn interest on loans or access crypto loan packages.
The interest rate will be calculated using an algorithm based on the asset’s level of supply and demand. For example, if demand increases, interest rates will increase, while supply increases, interest rates will decrease. This is a crucial point in choosing a lending cryptocurrency.
COMP coin is an ERC-20 token and the native token of the Compound ecosystem. This token has a total supply of 10 million USD COMP. Of which 42.3% is used to pay users when they use the platform, for example, borrow or lend assets.
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