Compound has finally launched its own token, $COMP. $COMP owners will have the right to vote in all voting proposals on the Compound.
$COMP can be bought and sold through another DeFi product, Uniswap. The general view of the market is that $COMP is above the required value. It is normal that the price has increased excessively since the amount in circulation is very low. We can predict that the price will come to a more reasonable level over time. 42.3% of tokens will be distributed to users based on the amount of interest they will get or borrow on the system. There will be no "Token Sale". 50% is reserved for Compound Team and partners. The remaining amount is reserved for the community. Accordingly, it is expected that approximately 2880 COMP tokens will be distributed to users every day. The usage incentive method started to become widespread with the Synthetix project. We can think that this strategy will continue to gain more acceptance over time.
On the other hand, we see that the monetary value locked to the Compound after today's development has increased by almost 40% in one day. If the liquidity increase continues, Compound will become the second largest DeFi project.
To summarize, it seems that the failed ICO model will replace the user-promoted DeFi model without token sales.
