Compound Governance Token (COMP)

Compound (COMP) is a cryptocurrency token used in the Compound platform, which is a decentralized finance (DeFi) protocol for lending and borrowing digital assets. COMP tokens give holders voting power to influence the platform’s development, updates, and governance decisions, such as adjusting interest rates or adding new features. By holding COMP, users can participate in shaping the platform’s future, aligning incentives between developers and the community. Essentially, COMP acts as a stake in the platform’s governance, enabling decentralized decision-making within the DeFi ecosystem.