Compound outstanding debt grows 400% over 3 days as COMP distribution begins

6

Quick Take

  • Money market protocol Compound began the distribution of its governance token, COMP, on June 15
  • With a market price of ~$200, COMP offers borrowers and lenders close to $600,000 in subsidies per day 
  • Outstanding supply and debt have since grown more than 210% and 470%, respectively, as speculators seek to participate in the distribution
  • While the protocol’s key performance metrics are up across the board, it remains unclear whether momentum can be sustained as competing protocols begin to issue equivalent subsidies 

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Compound outstanding debt grows 400% over 3 days as COMP distribution begins written by Matteo Leibowitz @ https://www.theblockcrypto.com/genesis/68984/compound-outstanding-debt-grows-400-over-3-days-as-comp-distribution-begins?utm_source=rss&utm_medium=rss June 19, 2020 Matteo Leibowitz

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