Compound Labs Profile picture
Aug 26 • 6 tweets • 2 min read
Today, following a successful COMP Governance proposal, Compound III is live 📈3⃣

Compound III is a streamlined version of the protocol, with an emphasis on security, capital efficiency, and user experience.

For borrowers, it's a game-changing upgrade.

medium.com/compound-finan…
In this version, collateral remains your property; nobody else can borrow or withdraw it. It's safer.

While you won't earn interest on collateral, you'll be able to borrow more, with less risk of liquidation (and lower liquidation penalties)...while spending much less on gas.
The upgrade includes advanced account management tools for developers, that enable stunning new UX patterns and applications to be built on top of the protocol...like the starter interface:
The first Compound III market allows you to borrow USDC using ETH, WBTC, LINK, UNI, and COMP as collateral.

Over time, the protocol will support more assets, on more blockchains. By design, Compound III is easy to configure & govern.
This wouldn't be possible without the incredible Compound community.

COMP Governance manages the deployed Compound III market, all future deployments, and the license to the Compound III codebase.

A huge thank you to everyone that participated in launching this upgrade 📈3⃣
Compound: compound.finance
Starter interface: v3-app.compound.finance
Documentation: docs.compound.finance
Discord: compound.finance/discord

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More from @compoundfinance

Dec 17, 2020
Earlier this year, $COMP governance replaced centralized control of the Compound protocol.

The community has bloomed; 32 upgrade proposals, new features, new markets, massive growth.

While you've built, we've been researching ways to expand & improve decentralized finance.
Today, we're excited to share the whitepaper for Compound Chain, a distributed ledger capable of transferring value & liquidity between peer ledgers.

compound.cash Compound Chain Whitepaper v0.1
Compound Chain is a tool that could bring more assets into the protocol from a variety of ledgers e.g. @Polkadot, @solana, @optimismPBC, Quorum, @CeloOrg, etc.

It's designed to compliment the Ethereum contracts, be controlled by $COMP governance, and extend DeFi network effects.
Read 4 tweets

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