Compound (COMP) is open for buying and trading, as well as transfers, on the Voyager app. We are happy to welcome the COMP community and introduce this exciting DeFi asset to our users.

Compound, an algorithmic money market protocol on Ethereum, allows users to earn interest or borrow assets against collateral. Compound is available to all, allowing anyone to supply assets to COMP's liquidity pool and start earning variable interest income immediately. Interest rates are automatically adjusted based on supply and demand, coming from other users that borrow funds and pay interest for the loans.

With Compound, supplied asset balances are represented by cTokens. cTokens are representations of the underlying asset that earn interest and serve as collateral. Users can borrow 50-75% of their cTokens' value, depending on the quality of the underlying asset. Users are also able to remove or add funds at any time, but if their debt becomes undercollateralized, anyone can liquidate; a 5% discount on liquidated assets serves as an incentive for liquidators. The Compound Protocol sets aside 10% of interest paid as reserves and the rest goes to supplies.

Since upgrading from mainnet to v2 in May 2019, Compound now supports BAT, DAI, SAI, ETH, REP, USDC, WBTC, and ZRX. As of May 2020, Compound has transitioned to community governance, allowing COMP token-holders and their delegates to debate, propose, and vote on all changes to Compound. Compound has been audited and formally verified.

Learn more about Compound here.

Ready to start trading COMP on Voyager? Download the app and follow the below steps to start now:

How to buy Compound (COMP)

  1. Get the Voyager app: Available in the Apple App Store and Google Play Store, visit and search Voyager or click here to download now.
  2. Open a Voyager trading account: Fill in your personal information to create a trading account. As a licensed financial institution, know that your personal information is always safe with us.
  3. Link your bank: Link your bank account by navigating to the User Icon on your Market Screen. On your account page, tap Bank Accounts and add your bank.
  4. Fund your Voyager account: To deposit USD, go to your account page and tap Transfer Cash or Crypto, then Deposit to Voyager Account and select USD. Next, enter the amount of USD you'd like to transfer and slide the Slide to Deposit USD banner. Now you can trade instantly.
  5. Buy COMP: Navigate to the Market Screen scroll until you reach COMP and tap to access the Compound page, then tap Buy COMP. Insert the amount of USD you'd like to spend and slide the Slide to Buy COMP purple banner to complete your purchase.

Trading on the Voyager app is currently available to all U.S. residents excluding New York state. We are actively working with regulators to expand to New York and internationally in the future.

Voyager Cryptocurrency Risk Disclosure

All investments involve risk and the past performance of a digital asset or other financial product does not guarantee future results or returns. Cryptocurrencies are highly speculative in nature, involve a high degree of risk and can rapidly and significantly decrease in value. It is reasonably possible for the value of Cryptocurrencies to decrease to zero or near zero. While diversification may help spread risk, it does not assure a profit or protect against loss. Investors should consider their investment objectives and risks carefully before investing. Previous gains may not be representative of the experience of other customers and are not guarantees of future performance or success.