Compound (COMP) — price, overview & secure storage
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Last Updated on Nov 11, 2026 03:05 AM
What is Compound? Complete guide to COMP
What is Compound and who created it?
The Compound Governance Token, known as COMP, is integral to the Compound Finance lending protocol. It serves as a governance token, enabling holders to participate in the decision-making processes that shape the future of the protocol. COMP allows its owner to delegate voting rights to any address, whether it be their own wallet, another user, an application, or a DeFi expert.
Key features of Compound blockchain
One of the standout features of COMP is its ability to delegate voting rights. This means that even if a user does not own COMP, they can still participate in governance if they receive delegation. This opens up governance participation to a broader audience, allowing for more diverse input and decision-making.
How Compound transactions work
To propose a governance action, an individual must have 1% of COMP delegated to their address. Governance actions can range from simple to complex sets of actions, such as adding support for a new asset, changing an asset's collateral factor, adjusting a market's interest rate model, or modifying any other parameter or variable of the protocol that the current administrator can change. This system ensures that the protocol remains adaptable and responsive to the needs of its users.
Wallet for Compound
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Tangem supports networks for Compound
- Arbitrum One
- Ethereum
- Base
- Bnb Smart Chain
- Avalanche
- Polygon Pos
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Similar cryptocurrencies to Compound (COMP)
| Asset | 24h % | Market cap | |
|---|---|---|---|
 Bitcoin BTC | $73,592.54 | -1.50% | $1.48T |
 Ethereum ETH | $2,057.49 | -2.94% | $0.25T |
 Tether USDT | $0.9991 | 0.00% | $0.18T |
 BNB BNB | $681.15 | -1.03% | $89.58B |
 USDC USDC | $0.9995 | 0.01% | $69.88B |
Frequently asked questions about Compound (COMP)
- Compound is a blockchain-based digital asset used for transferring value and interacting with decentralized applications. It operates without central control, relying on distributed network technology.
- Its main advantages include speed, accessibility, and compatibility with decentralized tools. The network is optimized to handle different types of operations.
- Yes, both names point to the same token. COMP is just the shorthand symbol used for market and wallet displays.
- You can buy Compound using on-ramp services available in Tangem Wallet or exchanges. After purchasing on an exchange, you can transfer it to your Tangem Wallet.
- The safest option is to use a hardware wallet that keeps your private keys offline. Tangem provides secure cold storage protection.
- No. COMP must be delegated to an address first, your own included, and that delegation is a transaction on Ethereum. Until then the balance carries no weight in proposals.
- No. Governance weight is attached to the Ethereum token, so a bridged balance on another network cannot be used for voting.
- An address needs one percent of COMP delegated to it, which can come from other holders rather than from its own balance.
How to store Compound securely with a hardware wallet
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