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Introduced on September 30th, 2017, Compound Coin (COMP) emerged from the remnants of the defunct UKC coin, offering a 1:1 exchange to support holders of the now-obsolete UKC. Leveraging the X11 algorithm, it switched from Proof of Work (PoW) to Proof of Stake (POS) to incentivise coin ownership and network participation. With block times set at two minutes, stakers benefit from a variable annual percentage rate (APR) starting at 250% and gradually halving every 500,000 blocks down to 7.8% at block 2,500,000. The Compound Coin community places emphasis on the power of compound growth, aiming for an exponential increment in asset value. Premined coins were allocated for the initial exchange from UKC to COMP and for developmental purposes, with any surplus being burned to preserve value.
