Compound Coin was born out of the death of UKC coin. The original developers of Compound coin offered fair 1-1 swap of UKC coin to COMP coin. This enabled those with coins of now no value to swap them for a new and working coin.
The initial COMP premine was used for a swap from UKC to COMP and for development. Unused coins were burned – The total burned coins amount to over 550 million at the moment.