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What is COMP (Compound)?

Crypto Terms Glossary: What is COMP (Compound)?

COMP is the governance token of the Compound protocol, a decentralized, blockchain-based protocol that allows users to lend and borrow crypto. A predetermined amount of COMP is distributed to all lenders and borrowers on the Compound protocol every day. Anyone who owns at least 1% of the total COMP supply can submit and vote on proposals to change the protocol.

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