- Coinbase Pro to list Compound (COMP) on Coinbase Pro.
- Compound’s lending protocol has soared.
US-based cryptocurrency exchange Coinbase has announced the listing of the Compound (COMP) token on Coinbase Pro. The exchange has also noted that trading will begin in different phases.
Coinbase has also noted that they own COMP tokens after investing in Compound in 2018.
Compound is a DeFi (decentralized finance) protocol that allows users to lend or borrow participating cryptocurrencies. Compound’s token, COMP, is an Ethereum-based governance token for the lending protocol.
Compound’s COMP token launched on June 15th already sports a market cap of over $1.5 billion after seeing a parabolic rise during the last few days.
Furthermore, the total locked value in the Compound protocol has surged with now over $320 million in cryptocurrency locked.
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