Tether Yields Surge on Compound Following COMP Token Launch

Tether lenders are yielding over 7%, and borrowers are paying over 14% on Compound, as the protocol launches its governance token, COMP.

Compound usage has surged over the past two days, with the total locked value up from around $90 million to $140 million. 

The dramatic uptrend comes as the platform launches its governance token, COMP.

Compound’s governance tokens began trading on Monday on Uniswap for $62. COMP tokens mark the protocol’s first steps towards decentralization, with token holders and their delegates able to “debate, propose, and vote on all changes to Compound.” 

All Compound protocol users are now receiving $COMP – marking the beginning of community governance.