Cryptocurrency change OKEx have simply listed Compound’s COMP token for commerce.
COMP is the native token of Compound — a DeFi protocol that enables its customers to earn curiosity on deposits or lend cryptocurrencies. Lending and borrowing on Compound are managed by a decentralized peer-to-peer blockchain-based protocol.
After its 2017 launch, the platform grew to succeed in the highest spot amongst all of the DeFi providers based mostly on the overall worth of property locked, in keeping with DeFi Pulse.
In a June 29 announcement, OKEx said that COMP spot trading towards Bitcoin (BTC) Tether’s USDT stablecoin started at 6 AM UTC at the moment. COMP deposits launched one hour earlier than and withdrawals one hour after trading began.