Compound announces launch of governance token COMP

Compound, a decentralized financial (DeFi) platform, announced the launch of the governance token COMP. Today will launch a testnet of its experimental governance platform and provide a trial version of its governance token COMP. According to an article about its new governance model, the entire governance code base is available on Github and has been audited by OpenZeppelin; additional security audits are ongoing and will be released soon. The company will tokenize its DApp, but not to raise more funds in this way. Instead, its employees, founders and investors will receive a portion of the tokens, and another portion will be distributed on Ethereum in a way that the company has not yet revealed. After all this is done, the token holders will run Compound. It is reported that since its launch at the end of 2018, Compound has been the top three DeFi DApps on Ethereum and has basically remained stable.