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.
The DeFi movement promises to provide a lot of benefits, including the elimination of regulators and intermediaries and making financial markets more accessible to retail investors.
The final phase of the TrueFi launch should initiate the beginning of a highly functional, cross-chain uncollateralized lending platform, equally able to serve institutions, retain users, and lend to other protocols.
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.
