What is Compound (COMP)? | Compound COMP Explained in Under 60 Seconds #Shorts

The Compound Protocol is autonomous interest rate protocol that creates money markets that unlock a range of DeFi applications. The Compound Token (COMP) is an Ethereum ERC-20 token that enables community governance of the Compound protocol.

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Access on-demand liquidity in any Compound market with no trading fees or no slippage. Provides access to a global liquidity pool per asset.

SUPPLY, BORROW & LEND
Users can supply tokens to a money market to earn interest, or borrow tokens (to use, sell, or re-lend) by using their balances in the protocol as collateral.

cTOKENS
cTokens are used to interact with the Compound Protocol. Supported assets are integrated through a cToken contract, & earn interest in cold storage.

GOVERNANCE
Compound is managed by a decentralized community of COMP token-holders and their delegates, who propose and vote on upgrades to the protocol.

WEBSITE: https://compound.finance/