Compound started distribution of COMP Token to all Users

Compound started distribution of COMP Token to all Users

By FrenchLegalAspect | FLA | 16 Jun 2020


Hey folks, 

 

Just a short post today to inform you that COMPOUND started distribution of COMP Token governance to all users on the 15th June.

 

After being tested on Kovan Testnet, the proposal to begin the distribution to all users was set.

Proposal 007

After being adopted 13th June, compound protocol added the feature after 2 days process.

 

So distribution started on the 15th June, and all users started to earn COMP token as Robert Leshner explained it on that link (https://medium.com/compound-finance/expanding-compound-governance-ce13fcd4fe36).

You can see in real time how distribution work, and a COMP distribution page was added.

COMP Distribution in real-time

 

 

I have started to earn some COMP (about 0,0024 in a day), but collecting is expensive at that moment (almost 0,05 ETH to collect...)

Vote Dashboard

 

I think it's a really important development and it will inspire some others DAO creators.

Once collected, COMP token allow you to vote on proposal. You also need 100,000 COMP to create a proposal (quite high but also understandable for stability of the protocol).

Let me know your thoughs about it, and I will add some development about COMPOUND Protocol in a near future.

 

To conclude, it appears that Coinbase is on starting block to add the COMP Token to the exchange and already available on Uniswap.

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FrenchLegalAspect
FrenchLegalAspect

Writing about crypto-assets in a (mostly french) legal point of view and other stuff.


FLA
FLA

French Legal Aspects of crypto-assets and other.

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