Compound (COMP) is a decentralized protocol with yield farming capabilities that offers lending services. Compound Labs Inc. was founded in 2017 by Geoffrey Hayes (CTO Compound) and Robert Leshner (CEO Compound).
Users of Compound Finance can store, trade, and use the coins in other DeFi applications. Smart contracts hold the user’s collateral, and interest is calculated depending on market demand.
To do this independently and autonomously, the network uses smart contracts that have been properly audited. These contracts are in charge of some of the platform’s most crucial tasks like management, capital supervision, and even storage.
Compound allows users to lend and borrow crypto assets without the need for an intermediary or broker. Both lenders and borrowers benefit from the process since each receives a larger return on their crypto. Lenders can earn interest on their crypto assets, while borrowers can use the same crypto assets to get credit without having to go to the bank, because no such verification checks are necessary to use Compound, the user is free from tedious verification procedures such as Know Your Customer (KYC), Anti Money Laundering (AML), or credit record. Users of the platform are not only able to get high-interest rates but they are also rewarded with COMP tokens for borrowing or lending crypto assets.
Everything on Compound is managed automatically by smart contracts, which mint cTokens once Ethereum and ERC20 assets are deposited and enable Compound users to redeem their stake with cTokens.
The protocol imposes a collateralization factor on all assets supported by the platform, ensuring that each pool is always overcollateralized. If the collateral falls below the required maintenance level, it will be sold to liquidators at a 5% discount, allowing part of the loan to be paid off and the remaining to be returned to an acceptable collateralization factor. This structure ensures that borrowers retain their collateral levels, offers a safety net for lenders, and gives a chance for liquidators to generate profits.
Compound Finance’s key feature is that it provides a platform for users to earn cryptocurrency that they are not trading in their wallets/accounts. Users can lend their assets to a Liquidity Pool, which the borrowers then utilize. It also gives borrowers an easy option to get credit without having to go to the bank.
Another unique aspect of Compound is that it compensates both lenders and borrowers with COMP tokens to encourage them to use the platform. The main goal of this method is to make the user base to be stable and keep lenders and borrowers enthusiastic about the Compound platform.
Compound’s yield farming feature allows users to optimize their profit in COMP tokens by engaging in the platform’s ecosystem as both a lender and a borrower. This feature is only available via InstaDapp, a platform that allows users to engage with many DeFi platforms from a single point.
Compound Finance has shown its trustworthiness by giving third-party auditors and consultants open access to its contract protocol. These experts put forth a lot of time and effort to develop a safe and dependable protocol. Furthermore, all contract codes and balances are public and verifiable, making Compound Finance secure and legitimate.
Table Of Contents
- Compound (COMP) Current Price
- Compound Price Prediction 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030
- FAQ: Compound Price Prediction
Compound (COMP) Current Price
Compound Price Prediction 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030
|Year||Minimum Price||Average Price||Maximum Price|
Compound Price Prediction 2022
The value of Compound is expected to rise in the next years. We expect that its price will reach $221.30 in 2022, according to our COMP projection. In 2022, Compound is expected to attain an average market price of $265.56. It’s predicted that by the end of 2022, it’ll be worth $331.95.
Compound Price Prediction 2023
Compound is anticipated to achieve a minimum price value of $320.89 in 2023, according to our estimate and technical analysis. The price of COMP may reach a high of $471.37, with an average value of $358.51.
Compound Price Prediction 2024
In 2024, Compound is expected to hit its lowest potential level of $506.78. According to our projection, the price of COMP might reach a high of $790.04, with an average expected price of $670.54.
Compound Price Prediction 2025
According to our in-depth technical analysis of historical Compound price data, the price of COMP is expected to reach a low of $734.83 in 2025, a high of $1,079.44 in 2025, and an average trading price of $820.98 in 2025.
Compound Price Prediction 2026
There are a lot of predictions about the future of the Compound Token based on historical data and technical analysis. The price of COMP is expected to reach $1,809.19 in 2026, according to our Compound price predictions.
Compound Price Prediction 2027
According to our projection and technical analysis, the price of Compound is predicted to reach a minimum of $1,682.75 in 2027. With an average price of $1,880.04, the COMP price can reach a maximum price value of $2,471.19..
Compound Price Prediction 2028
Based on our Compound price forecast, COMP price might reach around $3,516.37 by 2028. The maximum price might be around $6,963.12 and the minimum will be around $2,657.59 by the end of this year.
Compound Price Prediction 2029
According to our technical analysis based on previous COMP price data, the price of Compound Token is expected to be around $8,211.95 in 2029. With an average trading value of $10,710.08 in USD, the coin price value can reach a high of $12,809.58.
Compound Price Prediction 2030
Compound is gaining popularity and has a lot of potential in the market. If it continues to increase at its present rate, it can reach $13,606.86 per coin by 2030. This may be an approximation, but if Compound coin continues on its present path, it is still a possibility. It may even rise over $19,240.95 per coin.
FAQ: Compound Price Prediction
Is Compound a Good Investment?
Yes, the value of Compound is expected to rise in the future since scarcity drives up prices. Please bear in mind that all investment has some level of risk. Simply said, invest what you can afford to lose and do as much research as you can.
Will Compound overtake Bitcoin?
According to our predictions, this can’t happen in near future.
How much will Compound be worth?
As per our prediction $19,240.95 USD possible probably by 2030.
Will the price of Compound go will be downward in future?
No, Compound price will not go downward based on our estimated prediction.