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144,141 Compound positions opened on eToro
Compound is a system of openly accessible smart contracts. Compound allows users to take out loans while also having the opportunity to act as a lender and provide loans. This is done by locking the user's crypto assets into the protocol. The rate of interest paid and received by borrowers and lenders is calculated based on the supply and demand of the locked crypto assets. The COMP token allows for community governance of changes to the Compound lending protocol. Compound stands out in that it allows users to earn interest on existing crypto assets rather than having investments sit dormant in wallets. Built on Ethereum, and founded in 2017, Compound uses cTokens as its native token to allow users to earn interest. Former economist Robert Leshner is the CEO and founder of Compound. In its Series A funding round, the cryptocurrency raised $25m. It also received $1m from Coinbase through the USDC Bootstrap Fund. View COMP price movements on eToro today.