South Korea’s leading cryptocurrency exchange Upbit has announced that it has expanded trading options for users by adding Compound (COMP) to its KRW market.
Upbit Adds Market Support for KRW Trading Pair (COMP)
Starting April 1, 2025, at 16:35, traders will be able to directly buy and sell COMP using South Korean won (KRW) on the Ethereum network. Upbit advised users to carefully verify the correct network before depositing funds.
Trading Restrictions at Launch
To ensure a smooth listing process, Upbit has implemented temporary trading restrictions for COMP:
- Purchase Restriction: Purchase orders will be disabled for the first five minutes after listing.
- Sell Price Limit: During the same five-minute period, users cannot place sell orders more than 10% below the previous day's closing price.
- Order Type Restriction: Only limit orders will be allowed for the first hour, other order types will be temporarily restricted.
What is Compound (COMP)?
Compound (COMP) is an Ethereum-based decentralized finance (DeFi) lending protocol that allows users to earn interest on their crypto deposits or borrow assets using smart contracts. The platform automatically manages interest rates and transaction records based on supply and demand.
The COMP token serves as both a governance token and a reward mechanism, allowing holders to participate in the decision-making process and earn incentives for lending or borrowing on the platform.
Upbit’s latest addition reinforces the exchange’s commitment to expanding DeFi trading options for users in South Korea.
*This is not investment advice.
