Not so long time ago, in October 2017 Compound Coin – COMP appeared in crypto currency world.
So, how is the Compound Coin was created? What is so special for it? Here is the history.
There was another coin – United Kingdom Coin (UK coin, UKC). It was traded on exchanges and staking in people wallets. An than, in the end of September the UK coin blockchain stuck and broken, so people wasn’t able to move their coins and UK coin died… People could not get their money from wallets/exchanges. Original UK coin developer was lost and newer responded to UKC holders questions at bitcointalk thread – How to fix UKC blockchain? What to do? Complete silence…
That’s why eight of UKC holders get together with development team and said: “How can we help these people that invested in UKC and can’t get their money back?”
And then was an idea to create a new coin. And that new coin name – is Compound Coin. Compound coin team offered current UKC holders a beautiful 1:1 swap. So, for example, if you have 100 UK coins, you are able to contact Compound coin team via bitcointalk thread, tell that you want to swap your UKC to COMP and then “send” dead UKC (make unconfirmed transaction that is visible on blockexplorer) to a special address and receive 100 COMP – new, alive coin working perfectly! Also there was a 1:1 swap for those people that holded their UKC on novaexchange in the moment when blockchain died.
What an amazing thing for the community – to help out! Second life was given to a dead coin! And original UKC holders was extremely happy with a new working Compound Coin that is much more profitable than UKC. Happy people created a great community where everybody helps everybody! That’s how Compound coin was created.
Compound Coin – is a Proof of Stake coin (POS coin). Initial premine was used for swap from UKC and for development. Unused coins were burned – first burn was 50 million and second was 550 millions! Total burned coins amountat this moment is 550 millions!!! Burning address is number one in rich list on block explorer: http://miningpool2.thruhere.net:11008/address/CZBURNXXXXXXXXXXXXXXXXXXXXXXagZLdR
Initinal POS APR was 250% until block 50000. At 50000 POW phase was over and POS reward became 500% until block 100000 – that’s incredible! After block 100000 again rewards are 250%. There’s a lot of other POS coins that gives you 1000%, 2500%, 5000% and even 10000% return, but high percents causing hyperinflation and coins become cheaper and cheaper until they are worth almost nothing!
In case of Compound coin 250%-500% APR is much more manageable with hyperinflation and total supply, so the price is higher.
Compound coin has a faucet – where you can collect free Compound coin each hour to start with COMP for free! Compound coin faucet was created by developers from the scratch, so it’s original and one of a kind. Compound coin faucet – is one of the cleanest faucets , without any advertisements, pop-ups and pop-unders! Clean, simple and easy to use – just enter your COMP receiving address and solve capcha and random amount of Compound coin is yours for free!