Compound (COMP) is a DeFi lending protocol that lets users lend and borrow digital assets directly on the blockchain. It was founded in 2017 by Robert Leshner and Geoffrey Hayes.
Users can deposit cryptocurrencies like Ethereum-based tokens into liquidity pools to earn interest, or use these assets as collateral to borrow other tokens. All operations are automated and managed by smart contracts, removing the need for intermediaries.
The platform’s governance token, COMP, allows holders to propose and vote on protocol updates — such as adding new assets, adjusting rates, or changing reward structures. Decision-making is community-driven, ensuring decentralized control.
Reference: CoinMarketCap