Since launching, Compound Token has gained several high profile listings including Coinbase Pro, Coinbase and Binance. This has helped the new token hit a $2.35 billion market cap based on the total supply, making it the largest DeFi token and the 24th largest overall crypto asset.
COMP is distributed to users of the Compound protocol through liquidity mining. This has seemingly succeeded in achieving a sufficiently decentralized distribution based on the number of exchanges that have been able to successfully list the token already.
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.