Compound

About Compound

Compound is a decentralized finance (DeFi) lending protocol that allows users to lend and borrow cryptocurrencies. The COMP token is a governance token that enables holders to delegate voting rights and participate in protocol governance. Anyone with 1% of COMP delegated to their address can propose governance actions, such as adding new assets or changing protocol parameters.

• COMP holders can delegate voting rights to any address without transferring ownership.
• Any address with 1% of COMP delegated can propose governance actions.
• Compound supports multiple blockchain ecosystems including Ethereum, BNB Chain, Avalanche, Polygon, and Arbitrum.
• The protocol is backed by prominent venture capital firms like Paradigm and Polychain Capital.
• Compound is part of the Index Coop DeFi Index, indicating its significance in the DeFi space.