Coinbase to list Compound's governance token

Exchanges • June 18, 2020, 10:21AM EDT
UPDATED: June 18, 2020, 10:22AM EDT
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.

COMP, the governance token of decentralized finance (DeFi) lending protocol Compound, will soon be listed for trading on Coinbase. The exchange announced Thursday, that it would begin accepting inbound transfers of COMP on Monday, June 22, to Coinbase Pro, with trading beginning on Tuesday.

Coinbase's announcement follows just three days after the Compound team began distributing its tokens to users. COMP is currently trading at slightly above $100 (~0.43ETH) on decentralized exchange Uniswap.

The COMP token was first unveiled in February and went live on Ethereum in mid-April. According to Coinbase, the exchange owns COMP tokens "as a result of a 2018 investment in Compound." The exchange added that it "intends to maintain its investment in Compound for the foreseeable future and maintains internal policies that address the timing of permissible disposition of its digital assets, including COMP tokens."

Source: Uniswap.Vision

WHO WE ARE

The Block is a news provider that strives to be the first and final word on digital assets news, research, and data.

+ Follow us on Google News
Connect with the block on

More by The Block