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Compound (COMP) Gets Listed on KuCoin, Deposit Now and Share 4,067 USDT!

Compound (COMP) Gets Listed on KuCoin, Deposit Now and Share 4,067 USDT!

06/25/2020, 13:43:50

Dear KuCoin Users,

We are extremely excited to announce yet another great project coming to our trading platform. Compound (COMP) is now available on KuCoin. The supported trading pair is COMP/USDT.

Please take note of the following schedule:

  • Deposits Effective Immediately
  • Trading: 18:00 on June 26, 2020 (UTC+8)
  • Withdrawal: The withdrawal opening date will be announced separately.

The Compound Deposit Activity will run from 22:00:00 on June 25, 2020 to 22:00:00 on June 30, 2020 (UTC+8).

The top 200 users with the highest net deposit volume of COMP to KuCoin will share a prize pool of 4,067 USDT based on their proportion of the net deposit volume.

  1. Reward for each qualified KuCoin user = (Each user’s total net deposit volume / Top 200 users’ total net deposit volume) × 4,067 USDT
  2. Net deposit volume = deposit volume - withdrawal volume during the activity period

Project Summary

Compound (COMP) is an ERC-20 asset that powers the community governance of the Compound protocol; COMP token-holders and their delegates debate, propose, and vote on changes to the protocol.

By placing COMP directly into the hands of users and applications, an increasingly large ecosystem will be able to upgrade the protocol, and will be incentivized to collectively steward the protocol into the future with good governance.

How Compound Works:

  1. 4,229,949 COMP will be placed into a Reservoir contract, which transfers 0.50 COMP per Ethereum block (~2,880 per day) into the protocol for distribution
  2. The distribution is allocated to each market (ETH, USDC, DAI…), proportional to the interest being accrued in the market; as market conditions evolve, the allocation between assets does too
  3. Within each market, 50% of the distribution is earned by suppliers, and 50% by borrowers; in real-time, users earn COMP proportionate to their balance; this is separate from the natural interest rates in the market

Official Website: https://compound.finance

Whitepaper: Click to view

Deposit Activity Notes:

  • Deposits from KuCoin address will be excluded (including both internal transfers and on-chain transfers);
  • For any malicious acts conducted during the activity period, KuCoin will cancel the qualification of the participants;
  • The Sub-Accounts and Master Account will be treated as the same account when participating in the activity;
  • Rewards will be distributed within 3 days of the activity ending;
  • KuCoin reserves all rights to the final interpretation of this activity.

Risk Warning: Investing in cryptocurrency is akin to being a venture capital investor. The cryptocurrency market is available worldwide 24 x 7 for trading with no market close or open times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. KuCoin attempts to screen all tokens before they come to market, however, even with the best due diligence, there are still risks when investing. KuCoin is not liable for investment gains or losses.

Regards,

The KuCoin Team