Compound

Compound (COMP), launched in 2020, is the governance token of Compound, one of the pioneering decentralized lending and borrowing protocols in DeFi. Compound allows users to supply cryptocurrencies as collateral and borrow other assets, with interest rates determined algorithmically based on supply and demand. COMP token holders govern the protocol by voting on proposals for adding new assets, adjusting interest rate models, and other protocol parameters. Compound was one of the first protocols to introduce "liquidity mining," rewarding users with governance tokens for participating in the protocol. Use COMP tokens to pay for Senko Digital hosting services and support decentralized lending infrastructure.