Dive into the world of cryptocurrency and NFT philanthropy with our in-depth reports and guides. Insurance Services offered through NerdWallet Insurance Services, Inc. (CA resident license no.OK92033) Insurance Licenses What is fiat money? Despite these concerns, we believe that the Compound protocol hold some serious promise. After all, it seems that Compound is one of the rare and recent instances of a fully functioning DeFi project on par with the likes of Ren’s RenVM, which allows for decentralized, secure, and private cryptocurrency swaps between blockchains. COMP is also the rewards token for Compound’s liquidity mining. Whenever a lender adds cryptocurrencies to Compound’s liquidity pools or borrows from these pools, they get COMP tokens. COMP is distributed every 15 seconds (Ethereum mining period) in proportion to user’s interest. Everyday, 2,880 COMP tokens are rewarded to lenders and borrowers in a 50:50 ratio for maintaining Compound’s liquidity pools.
