Compound Finance Announces its New Multi-Asset Blockchain

Compound Finance Announces its New Multi-Asset Blockchain
фото показано с : beincrypto.com

2020-12-18 10:20

Decentralized finance lending and borrowing platform Compound Finance is launching its own distributed ledger to enable the transfer of value and liquidity.

Compound Finance was the pioneer of liquidity farming, being one of the first to launch governance token distribution incentives in June 2020. The DeFi protocol is taking things a step further now with its latest product, Compound Chain.

The new blockchain has been described as being capable of inexpensively storing and transferring value and liquidity between peer ledgers, in other words, cross-chain interoperability.

Today, we're excited to share the whitepaper for Compound Chain, a distributed ledger capable of transferring value & liquidity between peer ledgers.https://t.co/TFjJ0JbToV pic.twitter.com/lCzrGyscPa

— Compound Labs (@compoundfinance) December 17, 2020 Another Ethereum Rival?

One of the goals of the new ledger is to bring more assets to the Compound ecosystem, not necessarily compete with Ethereum;

“Compound Chain is a tool that could bring more assets into the protocol from a variety of ledgers e.g. Polkadot, Solana, Optimism PBC, Quorum, Celo, etc. It’s designed to complement the Ethereum contracts, be controlled by COMP governance, and extend DeFi network effects.”

CEO and founder Robert Leshner said this was a priority objective at a virtual DeFi summit in Bangkok, Thailand on Wednesday, Dec. 16;

“Over time more real world assets [will be added] as they become mainstream on the Ethereum blockchain.”

The whitepaper added that it will be a standalone blockchain preparing for the rapid adoption and growth of various tokenized assets from new ledgers including ETH 2.0 and central bank digital currencies (CBDCs).

Compound Chain will use a native unit of value called CASH which will standardized value across various disparate assets, and incentivize validation suggesting a proof-of-stake type consensus mechanism. The paper describes it as a proof-of-authority network operated by ‘governance approved validators.

CASH will be created by borrowing in a similar manner to the creation of DAI on MakerDAO and will be used to pay transaction fees. Lending, holding, and staking CASH can also accrue interest earnings.

The announcement added that the team is actively building a testnet implementation with a limited feature set, which it expects to be released next quarter (Q1 2021).

COMP Price Update

Compound’s native COMP token, which kicked off the DeFi boom, climbed 13% yesterday with the broader crypto market. It is currently changing hands for $157, retreating from a daily open of $178.

COMP is trading up 7% this week but is up more than 40% so far in December as it recovers from a two-month lull. COMP is still down 36% from its peak of $245 in June.  

The post Compound Finance Announces its New Multi-Asset Blockchain appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Wish Finance (WSH) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 WSH

finance compound liquidity being farming one pioneer

finance compound → Результатов: 86


Фото:

93 процента топовых 250 криптовалют просели в цене в сентябре. Кому досталось больше всего?

За последние несколько месяцев такие проекты в сфере децентрализованных финансов как Yearn. Finance, Compound, Synthetix и Chainlink радовали своих инвесторов постоянным обновлением исторического максимума цен.

2020-10-1 10:30


CoinMetrics: Более 90% из топ-250 криптовалют упали в цене за последний месяц

DeFi-токены показывали уверенный рост на протяжении последних месяцев. За это время цены таких активов, как yearn. finance (YFI), Compound (COMP), Synthetix (SNX) и Chainlink (LINK), выросли на сотни и тысячи процентов.

2020-9-30 10:44


Фото:

Объем заблокированной стоимости в DeFi-протоколе Aave превысил $1 млрд

Лендинговый протокол Aave вышел на второе место рейтинга DeFi Pulse. Объем заблокированных на его смарт-контрактах средств за сутки вырос на 19,26%, превысив отметку в $1 млрд. На скриншоте ниже видно, что Aave потеснил некастодиальную торговую площадку Curve Finance и некогда лидировавший проект Compound.

2020-8-15 20:09


Фото:

Ethereum Gas Fees Dips Amid Easing Network Congestion

The smart contract platform’s gas fees finally seem to be dipping as network congestion shows signs of easing. Ethereum Network Congestion Easing The months of June and July witnessed unprecedented transaction activity on the Ethereum (ETH) network, buoyed by the astronomical rise in popularity of decentralized finance (DeFi) protocols such as Uniswap, Aave, Compound, andRead MoreRead More.

2020-8-5 20:07


Tether (USDt) Surpasses US$100 million on Compound as World’s Most Liquid Stablecoin Drives DeFi Growth

ROAD TOWN, British Virgin Islands, June 19, 2020 — Tether, the blockchain-enabled platform that powers the largest stablecoin by market capitalization, and Compound, a decentralized lending market, are spearheading growth in the nascent decentralized finance (DeFi) space as USDT volume on the platform has surged above US$100 million. USDT has grown faster than all rival […]

2020-6-19 16:54


Compound Protocol Moves Towards Decentralization With COMP Governance Token Launch

Compound is setting its project to a decentralized governance system as it experiments with a testnet launched on Wednesday. The Open Finance backed startup is looking to grant its users the power to propose and vote for implementations to occur on the platform without requiring permissions from the compound team. A tokenization process will be […]

2020-2-27 00:22


Stock-to-flow Model Proponents “Claim Victory” in 2020: Predicts Legal Expert Jake Chervinsky

Jake Chervinksy, the General Counsel at Compound Finance has made a number of predictions for the Bitcoin. Although they are pretty generic what with the Bitcoin halving to occur and numbers to go up significantly which could either be before the halving or after, he sees stock-to-flow proponents to “claim victory.” The stock-to-flow model was […]

2020-1-5 23:15


Разработчик протокола криптовалютного кредитования привлек $25 млн

Блокчейн-стартап Compound в ходе инвестиционного раунда серии A привлек $25 млн. Лид-инвестором стал венчурный фонд Andreessen Horowitz, от которого стартап и получил основную часть денег, передает Coindesk.

2019-11-15 11:57