Let’s Earn COMP in MYKEY

Hi everyone,

Here comes Compound Governance Token COMP!

Introduction of COMP

As a DeFi star project, Compound issued tokens to make COMP attract the attention of the industry. COMP is an important component of the governance mechanism introduced by Compound, with a total of 10,000,000 tokens. Compound equity investors received 2,396,307 COMP. It is reported that Compound’s two rounds of equity investment received a total of $33.2 million. Based on the acquisition cost of the investment institution, the market value of COMP = $33.2M/2396307 * 10,000,000 = $139.33 million, and according to this calculation, the price of each COMP is about $15. According to the distribution plan of COMP, loan providers and borrowers will receive 0.5 COMP for each Ethereum block (or 2,880 COMP for each day), and based on the price of $15 per COMP, it is calculated that the value allocated to Compound users every day is $15 * 2,880 = $43,200.
Therefore, for the majority of participants in the DeFi lending market, Compound leads users to enter a market of “Borrowing and Lending is Mining”, if you want to receive COMP, you must participate in Compound financial management mining.

MYKEY Supports COMP Mining for the First Time

The MYKEY [Invest] page integrates the head DeFi product, and has optimized the network link to improve the DeFi experience speed, which can help users to receive COMP at a low threshold and easily. Users can directly select Compound financial products through the [Invest] page to participate in COMP mining.

More importantly, there is no GAS fee for MYKEY Ethereum transactions. As long as you have enough Network Fees, you can mine. There are up to 9 free ERC20 transfers every month (view the Increased Number of Free ERC20 Transfers in Annual Financial Activity). Earn COMP in MYKEY, low threshold and low cost, not to be missed.

About Compound

Compound is a mortgage lending platform running on Ethereum. Users can lend another token by collateralizing one token, such as collateralizing ETH to lend USDC. Compound currently supports six tokens: ETH, DAI, USDC, BAT, REP and ZRX. The core of Compound is to make the value of assets exchangeable in time, which is simply mortgage lending. When you need to use an asset, you do not need to spend 100% of the cost to hold it and you only need to bear a little interest to get the right to use it within a certain period of time.

About MYKEY

MYKEY (mykey.org) is a smart wallet deployed on multiple public chains and is dedicated to providing an infrastructure for blockchain mass adoption. As a decentralized multi-chain wallet, MYKEY allows blockchain developers to develop and operate applications for digital asset storage, trading, wealth management, and gaming, in conjunction with KEY ID to create a diversified platform for crypto users.