Compound is an algorithmic, interest rate protocol built on Ethereum blockchain that allows users to lend their assets to liquidation pool for borrowers to access. It is an open source system that is handled automatically by smart contracts. Lenders who deposited their asset will receive interest for their investment in cTokens, which is an ERC-20 token. The cTokens represents the asset supplied to the market and giving lenders an increasing quantity of the underlying asset.
COMP is the native cryptocurrency andgovernance token for the Compound platform. It is distributed when an Ethereum block is mined.
Compound Project Investors ($33.2M)
Andreessen Horowitz, Bain Capital Ventures, Polychain, Paradigm, Coinbase Ventures, DHVC, Chapter One Ventures, Compound.