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The world’s foremost cryptocurrency platform for spot and derivatives exchange, OKEx, recently announced its new listing of COMP, the native token of Compound, an algorithmic, autonomous interest-rate protocol on the Ethereum blockchain. COMP spot trading against USDT and BTC released on June 29 at 6 AM (UTC). The time for depositing COMP started from 5 AM (UTC) and withdrawal time was of 9 AM (UTC).

Compound started its journey way back in 2017 with Robert Leshner and Geoff Hayes as its founders. Compound introduces the users to the world of entirely decentralized cryptocurrency transactions. The striking difference between COMP and other cryptocurrencies is that, COMP is the upgraded version of cryptocurrency, which allows the users the right to vote on the decisions that can affect the protocol. So, it works as a crypto asset and hence called the Governance Token. In the world of Derivative Finance, Compound has become the world’s most extensive DeFi protocol with more than $600 million worth crypto assets.

OKEx CEO Jay Hao states that with continuous upgrade and innovation in the domain of decentralized finance, Compound is one of the leading players of the market in DeFi ecosystem. According to him, DeFi will change the world of traditional finance and provide equal opportunities for common people to utilize financial services. Before any new addition to the listing, the background of the project is thoroughly checked, this includes the project’s basic criteria, business model, and market potential. These high standards of scrutiny and review ensure the safety of the traders.

About OKEx

OKEx is leading the cryptocurrency spot and derivatives exchange in the world. It creates a platform for global crypto traders, miners, and institutional investors to manage and build crypto assets. Investors use this platform for their derivative trading with easy transactions and future endeavours. They can formulate their strategy with an opportunity to understand the risks and profitability involved in this business.

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