OKEx has announced than has included the token Compound (COMP) on your platform starting today.
This governance token It was released a couple of weeks ago by Compound, which aims to engage the cryptocurrency community in the governance of the protocol, similar to what happens in other protocols like Maker.
What made the COMP token famous was the fact that it was designed to easily generate income and this led to the coining of the term “yield farm" By simply interacting with the Compound protocol, users are eligible to receive a portion of the COMP tokens as an airdrop.
This demonstrated how these methods have been optimized so that users can take full advantage of the platform used for borrowing and lending, or even to sell the COMP token.
There are just over 4 million tokens and actually 43,000 COMP tokens have been distributed, which are only marketed in a few groups.
However, centralized exchanges have also made it possible to list tokens on their platforms, for example, Coinbase and now OKEx.
COMP tokens can finally be purchased on this exchange, which shows how decentralized finance (DeFi) continue their innovation, as explained the CEO of OKEx, Jay Hao:
“Compound has long been leading the field of decentralized finance, but thanks to its continuous innovation and development, it has now become the largest player in DeFi and a shining example of just how advanced development has been in this space. We are excited to help foster the growth of the DeFi ecosystem together with Compound. We believe in OKEx that DeFi will eventually disrupt traditional finance and provide equal opportunities for everyone to have access to financial services. This, in turn, helps us realize our vision at OKEx, which is #FinanceAll. ”
OKEx users can start depositing tokens and exchange them for USDT.