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.
As AscendEX lost nearly $78 million, it promises 100% compensation to all the affected users. It also promises of working with blockchain security firms and law enforcement agencies for the same.
