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Compound will launch a new governance system, planning to issue governance token COMP

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The COMP will not be open to the public until the devolution process is complete.

BlockBeats news: on February 27, the Compound ethereum lending platform announced that it will launch a new governance system, using "community governance" instead of the current management model. This means that the Compound will launch a governance platform and plan to issue a governance token COMP. According to the article, the COMP is a standard erc-20 asset that allows the holder to participate in governance voting or delegate voting rights to someone else, such as a user, an application, or a DeFi expert.

The article stresses that the COMP, which empowers community governance, is not a fundraising tool or investment opportunity and will not be open to the public until the decentralization process is complete. At present, the governance system is still in the testing stage. The governance function is already running in the Ropsten test network of ebuum. The code has been published on Github and audited by OpenZeppelin.