Explore the unique features of Compound, a cryptocurrency with a market capitalization of 412 268 514,10, a 24-hour trading volume of 46 098 390,61, and a circulating supply of 9 287 086. Ranked #116 on CoinMarketCap, this crypto has seen price changes of -0.26% over 1 hour, -4.73% over 24 hours, and -17.69% over 7 days.
The Compound Governance Token is a governance token on the Compound Finance lending protocol, COMP allows the owner to delegate voting rights to the address of their choice; the owner’s wallet, another user, an application, or a DeFi expert. Anybody can participate in Compound governance by receiving delegation, without needing to own COMP. Anybody with 1% of COMP delegated to their address can propose a governance action; these are simple or complex sets of actions, such as adding support for a new asset, changing an asset’s collateral factor, changing a market’s interest rate model, or changing any other parameter or variable of the protocol that the current administrator can modify.
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