Compound

Halal Rating :
Questionable
Last Price $61.63 Last updated:
Rank 138
1D Change 0.73 %
Market Cap $508.31m
Circulating supply 8,248,341
Maximum supply 10,000,000

Crypto Overview

Categories
  • DeFi
  • DAO
  • Yield Farming
  • Polkadot Ecosystem
  • Coinbase Ventures Portfolio
  • Three Arrows Capital Portfolio
  • Polychain Capital Portfolio
  • Lending & Borrowing
  • DragonFly Capital Portfolio
  • Alameda Research Portfolio
  • a16z Portfolio
  • Pantera Capital Portfolio
  • Paradigm Portfolio
  • Arbitrum Ecosystem
  • BNB Chain

The Compound Governance Token is a governance token on the Compound Finance lending protocol, 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. Anybody with 1% of COMP delegated to their address can propose a governance action; these are simple or complex sets of actions, such as 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.

Crypto Impact

To assign a comfort level investing in Compound from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Compound.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

Justification for our Halal Rating