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About Compound
Disclosures
Compound risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading Compound. All crypto assets are risky, there are general risks in investing in Compound. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
DeFi tokens
Decentralised Finance ("DeFi") tokens are crypto assets built on decentralised blockchain technology for financial applications or protocols. Risks linked to DeFi tokens include:
Enterprise Risk
Interactions between multiple DeFi protocols create a situation where a vulnerability or breakdown in one protocol can trigger a cascading effect, affecting other interconnected platforms.
Technology Risk
DeFi protocols frequently depend on external data sources or oracles, and any tampering or inaccuracies in these data streams can result in a lack of trust and reliability in the protocols.
Regulatory Risk
Governments and regulatory bodies around the world can introduce new regulations or ban certain aspects of the cryptocurrency market, affecting its legality and viability, which could affect token liquidity and/or value.
Legal Risk
Certain tokens may be used for operating a decentralised exchange platform which may contain additional risks:
- The platform may allow users to participate who have not been vetted or verified and therefore expose the possibility that users are interacting with sanctioned entities.
- The platform may be accessible in jurisdictions where some or all the exchange activity should be regulated. If a local regulator deemed the platform activity to be in breach of local regulation, they may request cessation or termination of the service which could affect token liquidity and/or value.
Market Risk
Given their novelty, the evolving technology involved and lack traditional asset structure, valuing crypto assets can be very difficult or impossible. This means valuations are determined by demand that is at risk of manipulation in various ways.
Compound’s price performance
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Compound FAQ
Compound is a decentralized finance (DeFi) platform facilitating cryptocurrency lending and borrowing. It operates through the use of a governance token called COMP.
Holding COMP offers several utilities and benefits within the Compound ecosystem. COMP holders can participate in liquidity farming programs and stake their tokens on platforms like OKX Earn to earn rewards. Additionally, COMP can be used for decentralized borrowing and lending on the Compound platform. Furthermore, COMP holders can engage in governance by proposing and voting on protocol changes, influencing the direction and development of the ecosystem.
Easily buy COMP tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include COMP/USDT and COMP/USDC.
You can also buy COMP with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.
You can also swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for COMP with zero fees and no price slippage by using OKX Convert.
To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into COMP, visit the OKX Crypto Converter Calculator. OKX's high-liquidity crypto exchange ensures the best prices for your crypto purchases.
Dive deeper into Compound
Compound (COMP) is a cryptocurrency that plays a significant role in shaping the future of borrowing and lending protocols within the decentralized finance (DeFi) industry.
What is Compound
Compound is a prominent DeFi protocol that utilizes its native token, COMP, as an integral part of its platform. COMP enables users to access and utilize the services offered by Compound seamlessly. One of the critical features of COMP is its governance functionality, which empowers token holders to participate in the decision-making process actively. By holding COMP tokens, users have the authority to propose and vote on modifications and improvements to the protocol, allowing them to shape its future development.
The Compound team
The Compound team comprises blockchain programmers and entrepreneurs driven by a shared vision of establishing an efficient and accessible financial system. Robert Leshner leads the team, bringing expertise in economics and finance to the table. The team has achieved remarkable milestones, securing more than $8 million in funding from prominent stakeholders. Currently, the Compound protocol manages assets valued at over $1 billion, showcasing the team's success in building a robust and trusted platform.
How does Compound work?
Compound operates as a DeFi protocol that facilitates the lending and borrowing of cryptocurrencies. Built on the Ethereum blockchain, users can engage in these activities transparently and securely.
The platform's native token, COMP, serves dual purposes: governance and incentives. COMP holders have the power to propose and vote on changes to the protocol, shaping its future. Additionally, COMP is a reward mechanism, encouraging users to supply assets or borrow against collateral. This incentivizes participation and contributes to the platform's overall functionality.
Compound’s native token: COMP
Compound's native token, COMP, plays a crucial role in the ecosystem by serving multiple functions. With a maximum supply of 10 million, COMP operates on the Ethereum blockchain as an ERC-20 token. It is used for governance and liquidity mining rewards within the Compound platform.
COMP token holders can propose and vote on modifications to the protocol, actively participating in the decentralized governance of the platform. This empowers the community to shape the future direction of Compound.
Additionally, COMP tokens are utilized as incentives for users who engage in the liquidity mining program of the DeFi protocol. By providing liquidity to the platform, users can earn COMP tokens as rewards, further enhancing participation and liquidity within the ecosystem.
How to stake COMP
To stake COMP tokens and maximize rewards, COMP holders should purchase COMP from reputable cryptocurrency exchanges like OKX. If an account still needs to be established, registration should be completed, along with the setup of an ERC-20 wallet.
Once these steps are taken, the COMP tokens can be sent to the chosen staking platform, such as OKX Earn, which offers a flexible staking setup. The next step involves confirming the desired amount of COMP to stake and selecting the Subscribe button to initiate the staking process.
COMP use cases
The COMP token has multiple use cases within the Compound ecosystem and the broader DeFi sector. COMP holders can participate in the Compound protocol's governance by suggesting proposals and voting on important decisions. Additionally, they can earn rewards by participating in DeFi programs or staking their COMP tokens.
Distribution of COMP
The distribution of COMP tokens is as follows:
- 50 percent of the tokens are allocated to Compound's liquidity mining program.
- 25 percent is reserved for the Compound team and advisors.
- The remaining 25 percent is set aside for future needs within the Compound ecosystem.
What does the future hold for Compound
The future of Compound holds plans for platform expansion, encompassing stablecoins, fiat currencies, and additional cryptocurrencies. Geographically, Compound aims to extend its presence to promising regions like Asia and Latin America. Furthermore, the team intends to introduce new DeFi products and services, including derivatives and financial markets, and forge partnerships with other DeFi protocols.
Disclaimer
OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.