cCOMP wallet

What is cCOMP (CCOMP)?

Supplying COMP to a Compound v2 market hands back cCOMP, a receipt token that sits in the wallet as an ordinary ERC-20 while the COMP itself stays inside the lending contract. The number of cCOMP does not move on its own. What moves is the exchange rate the contract reports between cCOMP and COMP, which is why closing a position is a redeem call against the cCOMP contract rather than a transfer of COMP.

Two things confuse holders. cCOMP uses 8 decimals while COMP uses 18, so the balance shown bears no visual resemblance to the amount of COMP deposited and looks implausibly large. And the governance weight of the underlying COMP does not follow the receipt: someone who wants to vote with COMP holds COMP, not cCOMP. Worth knowing too that per-asset cTokens belong to Compound v2; the later Comet design tracks a supplier's position differently and does not issue a token like this one for each market.

Since the value of the position changes through a rate stored on chain and not through anything landing in the wallet, there is nothing to keep up with. Tangem reads the balance off Ethereum each time the app opens, and the card itself can stay in a drawer from the day the position is opened until the day it is unwound. That gap between openings is exactly where cold storage earns its place.

Supported networks in Tangem (1): Ethereum.