Compound Overtakes Maker as Largest DeFi Project
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June 22, 2020

The total value of the assets locked in the DeFi project Compound exceeded that of Maker on June 20, making it the largest decentralized finance (DeFi) project, according to data provided by DeFi Pulse.

Per the resource, Compound currently has around $611.7M in locked assets, while the figure is slightly lower ($453M) in the case of Maker.

Compound started the distribution of COMP, its native token, to borrowers and token providers on June 15. Shortly afterwards, the token started to be available for trading on the decentralized exchange Uniswap at around $30. In just one week, its price has jumped to over $300, according to CoinMarketCap.

iHodl reported last week the token, which was unveiled in February and launched in April, had been included in the crypto exchange FTX together with the stablecoin cUSDT. It should be noted COMP will not only be included in the spot market, but will also be presented as a derivative, allowing FTX users to open short and long positions with leverage (the percentage of leverage has not been specified).

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