Compound has strong trust minimized lending and Comet risk isolation, but COMP value is mainly governance power.
Investment View
Investors should track base asset liquidity, collateral concentration, liquidation success, reserve adequacy, and governance participation.
Compound has mature lending functions and governance tooling, but revenue capture and growth narrative limit maturity.
Investment View
The key tests are risk adjusted revenue, treasury policy, and governance execution quality rather than TVL alone.