$243
1H
-0.52%$-1.27
24H
15.27%$32.16
7D
32.82%$59.99
Compound (COMP) is an ERC-20 asset that powers the community governance of the Compound protocol; COMP token-holders and their delegates debate, propose, and vote on changes to the protocol.
By placing COMP directly into the hands of users and applications, an increasingly large ecosystem will be able to upgrade the protocol, and will be incentivized to collectively steward the protocol into the future with good governance.
Chainlink has emerged as the best performing crypto over the last week with its price moving past $25 over the last weekend. Also, the massive surge in DEX activity has led to a rally in the DeFi market with the total value locked going past $26.5 billion.
DeFi tokens are on the rise as the Office of the Comptroller of the Currency (OCC) is considering the possibility to grant banking charters to the growing number of DeFi projects.
However, the total number of Ethereum locked up in DeFi plunged from 9.4 million ETH in mid-late October to the current 6.8 million ETH locked up at the time of writing.
The report estimates that the transaction volume in DApps in 2019 was $21 billion, meaning there has been a 1178% increase.
The Sovryn platform is built using the Bitcoin-powered smart contract infrastructure RSK thereby making it suitable for DeFi applications and more secure than the Ethereum-blockchain network.