Protocol · June 15, 2020
Compound begins COMP token distribution, kicking off DeFi Summer's yield-farming boom
Price at event
$9,430
Today
$73,442
Since then
×7.8
On June 15, 2020, lending protocol Compound began distributing its COMP governance token to lenders and borrowers, handing out roughly 2,880 tokens a day in proportion to interest accrued. The scheme rewarded users for simply using the protocol, and the resulting yield-farming gold rush sent COMP from launch to a brief $370+ peak within a week and inspired nearly every DeFi project to bolt on its own liquidity-mining program. The episode is widely credited as the spark of the 2020 'DeFi Summer.'
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