What is COMP?

Compound (COMP) is a token built on the ethereum blockchain that allows and enables community interaction and governance of the Compound protocol. The Compound protocol in short is a number of decentralised interest rate markets that allows users of to borrow and supply Ethereum tokens at different variable interest rates. An interesting feature of Compound and the COMP tokens is the fact that token holders and their delegates can also propose, debate and vote on changes to the protocol.