Analysts Predict Local Top for Compound (COMP) While Community Addresses “Yield Farming”

Compound (COMP) could be nearing a local price top, soon after the Ethereum-based decentralized finance (DeFi) token recorded a 258% growth in ten days. On June 25, a Compound governance proposal was passed by holders of the COMP token to slash the daily reward payout by 12.6%.

The proposal was voted in by 98 token holders against 16, or 1,198,438 (86.37%) against 189,177 (13,63%) in total votes, and will see daily reward payouts reduced to 2,880 COMP tokens. The proposal stated: At the time of writing, the APY (annual percentage yield) rate for supplying BAT tokens to the liquidity pool remains at 12.99%.

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