Compound wallet

What is Compound (COMP)?

Owning COMP and having a vote in Compound are two separate things, and this catches people out more than any other detail about the token. Voting power comes from delegation, not from the balance itself. Until COMP is delegated to an address, including your own, it counts for nothing in any proposal, and delegating is an on-chain transaction that costs ETH like any other. Once done, the power tracks the balance automatically: send COMP away and the weight leaves with it, receive more and the weight grows, with no repeat action needed.

The design also decouples voting from ownership in the other direction. Anyone can receive delegation from others and vote with it while holding no COMP at all, and a delegate crossing the one percent threshold of delegated supply can put a proposal on chain, whether that proposal adds a market, changes a collateral factor or rewrites an interest rate model.

One more thing to keep in mind: COMP is native to Ethereum, and representations of it on other chains are bridged copies. Governance weight belongs to the Ethereum token, so a balance that lives elsewhere will not vote no matter how it is delegated.

Supported networks in Tangem (6): Arbitrum One, Base, Ethereum, BNB Smart Chain, Avalanche, Polygon POS.

Delegate once and a COMP position can sit untouched for a very long time, which puts all the weight on the key rather than on daily use. Tangem generates that key inside the card's chip and keeps it there, with a second identical card as the way back if the first is lost and a seed phrase left as an optional extra. Nothing degrades in a drawer, which is the right property for a token whose whole purpose is patience.