Compound
Current price
$21.75
−4.56%24h
LiveUpdated 18s ago
TodayCompound falls 4.6%, trailing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour−0.28%
- 24 hours−4.56%
- 7 days−9.26%
- 30 days+12.71%
- 1 year−37.55%
Compound's move in context
Lagging the market today
−4.56% today against −3.24% for the market as a whole, a gap of 1.3 points. Small gaps like this are common, so they don't point to anything specific.
Trend has turned
−9.3% over 7 days and +12.7% over 30 days: the last week went against the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About Compound
Overview
Compound is a decentralized finance (DeFi) protocol that enables users to lend and borrow cryptocurrency without the need for an intermediary. Its core mission is to provide an accessible, open-source platform where users can earn interest on their assets or take out loans using cryptocurrency as collateral. What sets Compound apart is its autonomous and algorithmic nature, allowing users to interact directly with the protocol through smart contracts. Built on the Ethereum blockchain, Compound leverages the decentralized nature of cryptocurrency to enhance financial sovereignty, promote inclusion, and streamline lending processes.
Technical Features
Compound operates on a series of smart contracts that facilitate transactions automatically and securely. It utilizes an algorithmic interest rate model to adjust borrowing and lending rates based on supply and demand dynamics across various assets. Compound also employs the concept of collateralization, meaning that borrowers must deposit a certain amount of cryptocurrency as collateral in order to take out a loan. The protocol's governance is handled through Compound's native token, COMP, which gives token holders the ability to influence important decisions regarding the protocol’s future. The network is secured by the Ethereum blockchain's consensus mechanism, allowing for high levels of transparency and reliability.
Use Cases
Compound's primary use cases revolve around decentralized finance, specifically lending and borrowing of digital assets. Users can deposit their assets into the Compound protocol to earn interest, while others can borrow these assets by providing collateral. This mechanism makes it appealing for traders looking for liquidity without the need to sell their holdings. Additionally, Compound plays a vital role in governance within its ecosystem, allowing COMP holders to propose and vote on changes. The protocol also acts as a foundational layer for various DeFi applications, integrating with other protocols and services for enhanced utility.
Development Background
Compound was launched in 2018 by founder Robert Leshner and his team at Compound Labs. Since its inception, it has quickly gained traction and recognition within the DeFi space. One significant milestone for Compound was the introduction of the COMP governance token in 2020, which initiated a new era of decentralized control over the platform. The overall growth of Compound can be attributed to a combination of innovative technology and strong community involvement, with numerous developers contributing to its open-source code.
Community and Ecosystem
Compound boasts a vibrant ecosystem supported by a dedicated community of developers, users, and investors. It has formed strategic partnerships with various platforms to enhance its functionality and reach. Many decentralized applications (dApps) are built on top of Compound’s infrastructure, contributing to its growing adoption. The active governance model also fosters engagement and collaboration among community members, encouraging them to participate in and influence the protocol's direction.
Future Potential
The future potential of Compound is substantial, driven by the continuous evolution of the DeFi space and ongoing developments within its protocol. As the demand for decentralized lending and borrowing services grows, Compound is poised to expand its user base and asset offerings. Upcoming features outlined in its roadmap include improvements in user experience, the introduction of new assets, and enhanced governance mechanisms. As these advancements come to fruition, Compound stands to play a pivotal role in shaping the future of financial services in a decentralized manner.
Compound market
- Position by market cap among the coins we track.
- #124
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $217.5M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $21.55High $23.17
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $910.54
- Now 2% of itReached 12 May 2021 · Needs +4,086% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 10M COMP
- 100% of max
- Coins that exist now and can be traded.
- The most coins that can ever exist. Some coins have no limit.
- 10M COMP
- The most coins that can ever exist. Some coins have no limit.
Compound converter
1 Compound = $21.75
