[{"data":1,"prerenderedAt":346},["ShallowReactive",2],{"api/learn-center-post-en-what-is-compound-comp":3,"footer-en":57,"learn/cryptocurrency-guide/what-is-compound-comp-en-seo":255,"navigation-en-learn-center":260,"api/learn-categories-en":307},{"seo":4,"locale":28,"breadcrumbs":29,"excerpt":37,"featuredImage":38,"components":39,"title":5,"formattedPublishedAt":50,"geofencings":51,"category":52,"pagination":54,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"What is Compound? (COMP)","What is Compound? - Bitstamp Learn Center","What is Compound? How does COMP work? Read our guide to Compound Finance and start trading COMP on Bitstamp by Robinhood – the original crypto exchange.",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/What_is_Compound_COMP_png_76b45df492_409dfa95b5.png","image/png",".png",1920,1080,"What_is_Compound_COMP_png_76b45df492.png","",[],[20,23,26],{"pathname":21,"locale":22},"/en-gb/learn/cryptocurrency-guide/what-is-compound-comp/","en-GB",{"pathname":24,"locale":25},"/es/learn/cryptocurrency-guide/what-is-compound-comp/","es",{"pathname":27,"locale":28},"/learn/cryptocurrency-guide/what-is-compound-comp/","en",[30,34],{"id":31,"text":32,"url":31,"asUrl":33},"/learn/cryptocurrency-guide/","Cryptocurrency guide",true,{"id":35,"text":5,"url":27,"asUrl":36},"what-is-compound-comp",false,"\u003Cp>Compound Finance is a decentralized lending and borrowing platform based on the Ethereum blockchain.\u003C/p>\n",{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},[40],{"component":41,"props":42,"content":43,"secondaryContent":47,"ctas":48,"secondaryCtas":49,"ctasNoMarginTop":36},"section.full-text",{"centered":36,"withoutSectionContainer":36},{"text":44,"width":45,"align":46},"\u003Cp>From mortgages to personal loans and leveraged trading of assets, lending is an important function of the traditional financial system. Likewise, lending and borrowing are essential functions of \u003Cstrong>\u003Ca href=\"/learn/web3/what-is-decentralized-finance-defi/\">decentralized finance (DeFi)\u003C/a>\u003C/strong> meant to perform a similar function but without the reliance on centralized third-parties.\u003C/p>\n\u003Cp>With its introduction in 2018, \u003Cstrong>Compound Finance\u003C/strong> was one such lending and borrowing protocol. While banks and traditional capital markets allow governments, businesses, and individuals to borrow and lend fiat money, Compound connects those who want to lend their crypto assets with potential borrowers via its \u003Cstrong>\u003Ca href=\"/learn/crypto-101/what-are-smart-contracts/\">smart contracts\u003C/a>\u003C/strong>.\u003C/p>\n\u003Cp>Compound’s native token, COMP, is used to govern the platform and as a medium of rewards for using its lending and borrowing services.\u003C/p>\n\u003Ch2>How was Compound developed?\u003C/h2>\n\u003Cp>Compound was first launched in September 2018, founded by University of Pennsylvania graduates Robert Leshner and Geoffrey Hayes. Leshner has a degree in economics and now serves as the CEO of the San Francisco-based Compound Labs, while Hayes has a background in engineering and computer science and serves as CTO.\u003C/p>\n\u003Cp>Compound has gone through significant changes with each of its updates since 2018, demonstrating an active community and developer culture. In May 2019, a second version of the protocol (Compound v2) was released, and this was followed three years later by Compound III (also called v3 or Comet) in August 2022.\u003C/p>\n\u003Cp>Throughout its existence, Compound Labs has received nearly $71 million in funding from multiple venture capital sources, including Andreessen Horowitz.\u003C/p>\n\u003Ch2>How does Compound work?\u003C/h2>\n\u003Cp>As one of DeFi’s oldest \u003Ca href=\"/learn/web3/what-is-decentralized-lending-and-borrowing/\">lending and borrowing\u003C/a> protocols, Compound began with a relatively straightforward model of \u003Cstrong>\u003Ca href=\"/learn/web3/what-are-liquidity-pools/\">lending pools\u003C/a>\u003C/strong>. In this model, lenders supply assets into a pool, and borrowers can withdraw those assets as loans—as long as the loans are adequately collateralized by the borrower’s deposits into the platform. Each asset was contained in its own pool (i.e. one pool for \u003Ca href=\"/learn/cryptocurrency-guide/what-is-ethereum-eth/\">ETH\u003C/a>, one for \u003Ca href=\"/learn/cryptocurrency-guide/what-is-uniswap-uni/\">UNI\u003C/a>, one for COMP, etc.).\u003C/p>\n\u003Cp>Because borrowers cannot withdraw more than their deposits, the loans they take are considered \u003Cstrong>overcollateralized\u003C/strong>. This protects lenders from \u003Cstrong>default\u003C/strong> (when borrowers can’t or don’t make their required payments on debt).\u003C/p>\n\u003Cp>Overcollateralization is a key component of DeFi and is what allows decentralized lending/borrowing to be trustless.\u003C/p>\n\u003Ch3>Compound v2 and Compound v3\u003C/h3>\n\u003Cp>Compound v2 introduced two important new features to the platform:\u003C/p>\n\u003Cul>\n\u003Cli>\u003Cp>\u003Cstrong>COMP\u003C/strong> – Compound’s token allowed for community governance of the platform and was also used to incentivize deposits, lending, and borrowing.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>cTokens\u003C/strong> – When users deposited assets (like \u003Ca href=\"/learn/cryptocurrency-guide/what-is-chainlink-link/\">LINK\u003C/a>) into Compound v2, they received cTokens (like cLINK) in return. These allowed users to benefit from collecting interest at the specific market’s rates and turn and use cTokens as collateral in other DeFi protocols.\u003C/p>\n\u003C/li>\n\u003C/ul>\n\u003Cp>Compound v3 converted Compound from a market of \u003Cem>many\u003C/em> assets to a market of \u003Cem>one\u003C/em> base asset, setting it apart from other lending/borrowing protocols like Aave. This means that when users deposit crypto collateral (like ETH, LINK, UNI, or COMP), they can borrow up to a percentage of their deposit value only in the USDC \u003Ca href=\"/learn/crypto-101/what-are-stablecoins/\">stablecoin\u003C/a>. Using one base asset makes the process of taking out loans more capital efficient and reduces risks of exposure to multiple potentially volatile assets.\u003C/p>\n\u003Ch3>Earning rewards\u003C/h3>\n\u003Cp>Users who provide loans to borrowers in \u003Ca href=\"/learn/cryptocurrency-guide/what-is-usd-coin-usdc/\">USDC\u003C/a> can earn rewards on their holdings, and the reward rate is set by governance and is subject to change based on market conditions. The interest paid by borrowers of the base asset conforms to similar rules.\u003C/p>\n\u003Cp>Additionally, extra rewards may be offered to lenders and/or borrowers (in the form of COMP tokens) depending on market conditions.\u003C/p>\n\u003Ch3>Borrowing and liquidation\u003C/h3>\n\u003Cp>Compound’s stability relies on loans being overcollateralized. When loans exceed their collateral backing, users can get liquidated. This means the network will “absorb” the borrower’s collateral and returning a percentage of that collateral back to them in the form of the base asset, minus a fee (the liquidation penalty). Through this process, a borrower loses some of the original value of their collateral but is not left entirely empty-handed. Lenders are thus protected from borrower defaults.\u003C/p>\n\u003Cp>When borrowing crypto through Compound, the platform’s borrowing specifications for each type of collateral include:\u003C/p>\n\u003Cul>\n\u003Cli>\u003Cp>\u003Cstrong>Oracle price\u003C/strong> – the quoted price of the collateral, according to Compound’s \u003Ca href=\"/learn/blockchain/what-are-oracles/\">oracle.\u003C/a>\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Collateral factor\u003C/strong> – the portion of the collateral that can be borrowed against. For instance, if the collateral factor for ETH is 83%, then if you deposit 100 ETH you can borrow USDC up to an equivalent value of 83 ETH.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Liquidation factor\u003C/strong> – the level at which a borrower can have their collateral liquidated. For instance, if the value of the above example’s USDC loans exceeded 90 ETH (liquidation factor of 90%) due to fluctuations in price, the user could get liquidated.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Liquidation penalty\u003C/strong> – the fee a user pays to the protocol for being liquidated.\u003C/p>\n\u003C/li>\n\u003C/ul>\n\u003Ch2>How is the COMP token used?\u003C/h2>\n\u003Cp>Compound’s platform token, COMP, conforms to the \u003Ca href=\"/learn/crypto-101/what-is-erc20/\">ERC-20\u003C/a> standard used by all assets on the Ethereum blockchain.\u003C/p>\n\u003Cp>COMP is primarily used to govern the protocol through proposing and voting on changes to the platform. The protocol also provides COMP as an incentive for using the system, such that users collect distributions of COMP tokens according to how much they are lending or borrowing.\u003C/p>\n\u003Ch3>Token distribution\u003C/h3>\n\u003Cp>There is a maximum supply of 10 million COMP tokens. Of these, 42% of tokens will ultimately be distributed to users of the platform over time, 26% were allocated to the founders/team, 24% were promised to investors/shareholders, and 8% were reserved for the community and governance incentives. The tokens allocated to the founders/team and investors/shareholders are subject to a release schedule over the course of four years, ending in June 2024.\u003C/p>\n\u003Ch2>Compound Essentials\u003C/h2>\n\u003Cul>\n\u003Cli>\u003Cp>Compound was introduced in 2018 as a novel decentralized lending and borrowing platform which has since gone through two major updates\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>The platform’s most recent version, Compound v3, allows borrowers to supply collateral in the form of multiple cryptocurrencies but borrow only one (for instance, USDC)\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>The COMP token is used for governance and to incentivize use of the platform\u003C/p>\n\u003C/li>\n\u003C/ul>\n","full","left",{"text":17},[],[],"April 3rd, 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3TW",{},{},{"noFollow":36,"isExternal":36,"name":206,"value":17,"isEmail":36,"isPhoneNumber":36,"isText":33,"showOnDesktop":33,"showOnMobile":33,"attachment":207,"geofencings":208},"United Kingdom",{},{},{"title":210,"content":17,"items":211},"Contact",[212,217,221,225,229,233,238,243,248],{"noFollow":36,"isExternal":36,"name":213,"value":214,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":215,"geofencings":216},"Customer support","/customer-support/",{},{},{"noFollow":36,"isExternal":36,"name":218,"value":218,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":219,"geofencings":220},"info@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":222,"value":222,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":223,"geofencings":224},"press@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":226,"value":226,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":227,"geofencings":228},"support@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":230,"value":230,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":231,"geofencings":232},"complaints@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":234,"value":235,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":236,"geofencings":237},"+44 20 3868 9628","+442038689628",{},{},{"noFollow":36,"isExternal":36,"name":239,"value":240,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":241,"geofencings":242},"+1 800 712 5702","+18007125702",{},{},{"noFollow":36,"isExternal":36,"name":244,"value":245,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":246,"geofencings":247},"+352 20 88 10 96","+35220881096",{},{},{"noFollow":36,"isExternal":36,"name":249,"value":250,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":251,"geofencings":252},"+65 3105 1676","+6531051676",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"description":7,"ogDescription":7,"ogImage":256,"twitterImage":256,"twitterSite":257,"twitterCreator":257,"twitterCard":258,"twitterTitle":6,"twitterDescription":7,"titleTemplate":259},"https://assets.bitstamp.net/msc/_ipx/enlarge_true&f_png&fit_cover&q_85&s_1200x630/bitstampImageUrl/What_is_Compound_COMP_png_76b45df492_409dfa95b5.png","@Bitstamp","summary_large_image","%s",{"items":261,"ready":33,"platformButtonText":303,"backButtonText":304,"logInButtonText":305,"signUpButtonText":306},[262,266,269,272,275,278,281,286,289,294,299],{"headerName":263,"sidemenuName":134,"url":135,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":264,"submenu":265,"tag":17},"Institutions",{},[],{"headerName":126,"sidemenuName":126,"url":127,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":267,"submenu":268,"tag":17},{},[],{"headerName":149,"sidemenuName":149,"url":150,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":270,"submenu":271,"tag":17},{},[],{"headerName":106,"sidemenuName":106,"url":107,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":273,"submenu":274,"tag":17},{},[],{"headerName":116,"sidemenuName":116,"url":117,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":276,"submenu":277,"tag":17},{},[],{"headerName":121,"sidemenuName":121,"url":122,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":279,"submenu":280,"tag":17},{"geofencing-uk":33},[],{"headerName":282,"sidemenuName":282,"url":283,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":284,"submenu":285,"tag":17},"Markets","/markets/",{},[],{"headerName":111,"sidemenuName":111,"url":112,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":287,"submenu":288,"tag":17},{},[],{"headerName":290,"sidemenuName":290,"url":291,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":292,"submenu":293,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":295,"sidemenuName":295,"url":296,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":297,"submenu":298,"tag":17},"Learn","/learn/",{},[],{"headerName":300,"sidemenuName":300,"url":107,"noFollow":36,"showInHeader":36,"showInSidemenu":33,"geofencings":301,"submenu":302,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[308,312,316,320,324,328,330,334,338,342],{"title":309,"url":310,"geofencings":311},"Blockchain technology","/learn/blockchain/",{},{"title":313,"url":314,"geofencings":315},"Company profiles","/learn/company-profiles/",{},{"title":317,"url":318,"geofencings":319},"Crypto 101","/learn/crypto-101/",{},{"title":321,"url":322,"geofencings":323},"Crypto definitions","/learn/crypto-definitions/",{},{"title":325,"url":326,"geofencings":327},"Crypto trading","/learn/crypto-trading/",{},{"title":32,"url":31,"geofencings":329},{"geofencing-uk":33},{"title":331,"url":332,"geofencings":333},"People profiles","/learn/people-profiles/",{},{"title":335,"url":336,"geofencings":337},"Security","/learn/security/",{},{"title":339,"url":340,"geofencings":341},"Tutorials","/learn/bitstamp-tutorials/",{},{"title":343,"url":344,"geofencings":345},"Web3","/learn/web3/",{},1773313023410]