Coinbase Users in 19 Jurisdictions Can Earn COMP for Learning About Compound – CryptoGlobe

On Friday (June 26), Coinbase announced that “Coinbase Earn“, its educational service that rewards users for learning about different cryptocurrencies, has added support for Compound (COMP).

What Is Compound?

Compound is “an algorithmic, autonomous interest rate protocol built for developers, to unlock a universe of open financial applications.”

Compound v1 launched on the Ethereum blockchain on 28 September 2018. Originally, its smart contract-enabled money market allowed for lending in five different cryptoassets — Ether (ETH), TrustToken (TrueUSD), 0x (ZRX), Brave Attention Token (BAT), and Augur (REP) — with an algorithmically-adjusted (based on demand) publically-stated interest rates for borrowing and lending these cryptoassets.

On June 15, ERC-20 token COMP, which is Compound’s governance token, went into circulation for the first time after Compound started distributing it to all users of the Compound protocol.

On June 23, COMP started trading on Coinbase Pro (i.e. the COMP-USD and COMP-BTC order books went into full trading mode), and yesterday (June 25), COMP went now live on Coinbase Consumer (i.e. at and in the Coinbase iOS and Android apps.

Currently (as of 07:50 UTC on June 26), COMP is trading at $245.35, up 9.4% against USD in the past 24-hour period, and up 67% in the past 7-day period. Compound’s $660.78 million market cap (based on circulating supply) makes it the 24th most valuable cryptoasset and the most valuable DeFi token.

What is Coinbase Earn?

Coinbase Earn was originally launched in “invite-only mode” on 19 December 2018, giving a few lucky users the chance to learn 0x (ZRX) as they learn