Bubble
Compound COMP
Compound (COMP) was trading at $18.96, ranked #173 by market cap at $189.55M, with 24h volume of $21.57M.
Data snapshot: 2026-09-02 12:15 UTC.
Compound is one of the original DeFi lending markets, where interest rates move algorithmically with how much of each pool is borrowed. Its 2020 launch of COMP started liquidity mining as a distribution method, and the pattern of paying users in governance tokens to attract deposits was copied across the entire sector within months. Compound built the first widely used pooled lending market and, with COMP, introduced the mechanic that shaped the following years: distributing governance tokens to users of the protocol. That single decision started liquidity mining and the yield-farming cycle across all of DeFi. Compound itself has since been overtaken in size by newer designs, which makes it a useful case study — being first and being technically sound has not been enough to hold market share in this sector. On this map it sits in the lending group at a smaller size than its historical significance suggests.
What did Compound start?
Distributing governance tokens to protocol users — liquidity mining — which became the dominant growth mechanism across DeFi and set off the yield-farming cycle.
Why is it smaller than it once was?
Newer designs with better capital efficiency and risk isolation attracted deposits. Being first has not protected market share in this sector.
What is COMP used for?
Governance of the protocol, including which assets are supported and at what risk parameters.
How does Compound's lending work?
Pooled over-collateralised lending with algorithmic interest rates that move with utilisation, the model most lending protocols still follow.
Market cap decides how big a bubble is drawn, so rank is what places COMP on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #153 | Maple Finance (SYRUP) | $237.80M |
| #167 | Convex Finance (CVX) | $216.12M |
| #173 | Compound (COMP) | $189.55M |
| #224 | Kamino (KMNO) | $128.12M |
| #304 | Reserve Rights (RSR) | $83.10M |