DeFi platform Compound launches decentralized governance token with support from Coinbase Custody

Quick Take

  • Compound is going live with its decentralized governance token
  • The move comes months after it first unveiled the COMP token
  • Coinbase Custody is adding support for COMP and the governance process

Open Finance money market protocol, Compound, is officially moving to decentralize the nature of its governance by going live with a token-based model on Thursday.

That token-based approach was first unveiled in late February, as The Block previously reported, following