Sharing a mistake I made: I didn’t understand this at the time.
COMP’s “use the protocol to earn tokens” approach inspired a wave of copycats. The summer of 2020 is often called “DeFi Summer.”
Deposit receipts like cTokens are tokens in their own right: they can be transferred and used with other DeFi protocols, allowing them to be combined like “money legos.”
$COMP is Compound’s governance token, distributed starting in June 2020. Its current price is 24.59.
When did everyone figure this out?
#COMP
Do your own research before making any moves.
COMP’s “use the protocol to earn tokens” approach inspired a wave of copycats. The summer of 2020 is often called “DeFi Summer.”
Deposit receipts like cTokens are tokens in their own right: they can be transferred and used with other DeFi protocols, allowing them to be combined like “money legos.”
$COMP is Compound’s governance token, distributed starting in June 2020. Its current price is 24.59.
When did everyone figure this out?
#COMP
Do your own research before making any moves.