Partial list. Full dataset available on request.
Compound is a DeFi (decentralized finance) protocol created by Compounds Labs Inc, which allows users to send, deposit, lock, and lend any amount to the Compound protocol. If you lock funds, you earn interest on crypto and the interest you earn is denominated in the same token that was lent. The interest rates for supplying and borrowing on Compound are automatically adjusted based on supply and demand. COMP token holders also have the power to make adjustments to interest rates.
Total Value Locked (TVL), Daily transaction volume (lending and borrowing)
COMP is distributed on a daily basis to users of the Compound protocol. Each time a user interacts with the Compound protocol — e.g., by supplying, borrowing or repaying assets — COMP is automatically distributed to the user. New COMP tokens are awarded every day to users of the protocol, based on usage.
- Company (Compound Labs, Inc.)
- Ethereum addresses
- Addresses with more than 65,000 COMP can propose changes to the protocol. Addresses that held voting weight can submit their votes during a 3 day voting period.
- COMP allows the owner to delegate voting rights to the address of their choice; the owner's wallet, another user, an application, or a DeFi expert. Anybody can participate in Compound governance by receiving delegation, without needing to own COMP.
Slightly, to propose changes you need currently 65k comp tokens (lowered from 100k). Once proposed it is voted on. That said, someone can propose and get backing from others to reach that 65k total.
Goals and Implementation
Compound rewards both lenders and borrowers with COMP tokens to use the Compound protocol using liquidity mining, this way, preventing the decline of lenders and borrowers to gradually drop off and move to similar protocols in the DeFi space. Liquidity mining ensures a high level of liquidity and participation.
2880 COMP tokens are distributed daily with half going to borrowers and the other half to lenders.
COMP is distributed to active participants in the system, ensuring the people who use Compound are the people who get to decide on its future.
“COMP community governance is not well organized.” (Comp Discourse)
Developers have vested COMP or through additional proposals that pay for protocol updates
Must follow the standard accepted governance process.
A referendum is successful if: a majority has voted for the proposal and at least 400,000 votes are cast, i.e., ≥ 4% of the supply.
A proposal can also be cancelled if the original proposer loses the required amount of COMP tokens to create proposals after it was added. This is useful to prevent someone from doing a malicious proposal and immediately selling off all his COMP before the value of COMP might drop due to the malicious proposal being accepted.
Anybody can participate in Compound governance by receiving delegation, without needing to own COMP.
COMP is a token that corresponds 1–1 with voting power in Compound governance. Anybody with 1% of COMP delegated to their address can propose a governance action, which consists of simple or complex sets of actions. For example: adding support for a new asset, changing an asset’s collateral factor, changing a market’s interest rate model, or changing any other parameter or variable of the protocol that the current administrator can modify.
Proposals are executable code, not suggestions for a team or foundation to implement. Proposals are subject to a 3 day voting period, and any address with voting power can vote for or against the proposal. If a majority, and at least 400,000 votes are cast for the proposal, it is queued in the Timelock, and can be implemented after 2 days.
If the governance framework itself is disliked, participants can vote to replace it with a new model
Over time, the community can decide to upgrade them in a form of meta-governance. COMP holders will be the ultimate arbiters of the future direction of every aspect of the protocol.
The Compound protocol is governed and upgraded by COMP token-holders, using three distinct components; the COMP token, governance module (Governor Bravo), and Timelock. Together, these contracts allow the community to propose, vote, and implement changes through the administrative functions of a cToken or the Comptroller. Proposals can modify system parameters, support new markets, or add entirely new functionality to the protocol.
Addresses delegated at least 65,000 COMP can create governance proposals; any address can lock 100 COMP to create an Autonomous Proposal, which becomes a governance proposal after being delegated 65,000 COMP.
The community (token holders and/or delegates). If a majority, and at least 400,000 votes are cast for the proposal, it is queued in the Timelock, and can be implemented after 2 days.
Community (token holders and/or delegates)
After a proposal has been created, accounts which have voting rights for that proposal vote for or against by calling castVote on the Governor Alpha contract. a. The account's voting weight is determined by the number of votes the account had delegated at the time that proposal became active. This mechanism is in lieu of locking tokens to vote.
After the timelock delay period, any account may call execute to apply the changes from the proposal to the target contracts.
In rare cases an accepted proposal can still be cancelled. Currently there still exists a guardian address which has the power to cancel any proposal. It is currently held by the Compound Labs, Inc. itself. In the future this guardian address may be removed.
Audits, community monitoring through on-chain transparency
Since the requirement of 100,000 COMP tokens to create a proposal is a very high barrier, after all that's over 10 million USD at the current COMP prices, a new mechanism called Compound Autonomous Proposals (CAPs) was introduced. This will allow anyone with 100 COMP or more to propose a proposal. Any CAP that gets 100,000 votes can be added as a regular proposal.
Community governance has replaced the administrator of the Compound
The governance right gives the community complete control to evolve the economics of the protocol and COMP in entirely new ways