Landing DeFi giant Compound …

Landing DeFi giant Compound …

Lending And Borrowing In DEFI Explained – Aave, Compound

Contents

Landing DeFi giant Compound unveils its own blockchain
CONTENT

  • Compound developers presented their own blockchain

  • New network aims to improve cross-chain liquidity

  • Public testing scheduled for Q1 2021

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Landing DeFi giant Compound ...

Compound, one of the top three in terms of allocated assets, has presented the whitepaper of its own distributed ledger

Decentralized Finance Project (DeFi) – this is financial services, built on blockchain technology, which offer users access to open, effective and … More) Compound has provided technical documentation of its own distributed ledger called Compound Chain.

The developers of the project argue that the Compound Chain’s distributed ledger is capable of transferring asset value and liquidity between peer ledgers. Using its own blockchain, Compound aims to integrate assets from other ledgers, including Polkadot, Solana, Optimism, Quorum and Celo.

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Now, according to the creators of Compound, the team is working on the implementation of a tesnet network with limited functionality. Public testing expected to be available in Q1 2021.

Developer and validator documentation will be available in the coming weeks.

DeFi Disneyland

A native token will be created for the functioning of the economic architecture of the blockchain As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More called CASH. With the help of this token, commission costs within the network will be covered, according to the technical documentation of the project. Users will also be able to borrow CASH to pay transaction fees.

The process for generating tokens is similar to that used to create Dai stablecoins in the MakerDAO project, the developers note. The CASH value will be set by the protocol itself, depending on the level of liquidity in the ecosystem.

The proof of authority mechanism will be responsible for the consensus component in the blockchain.

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Compound was one of the first DeFi projects to kick-start the DeFi market hype in the summer of 2020. The success of the project turned out to be so loud that in just a week the volume of USDT stablecoin on Compound grew to $ 237 million.

Landing DeFi giant Compound ...

Source: compound.finance

However, over time, the volume of stablecoin in Compound has decreased and is now only $ 72.7 million in USDT..

Source: defipulse.com

However, this does not prevent the project from continuing to hold the third place in the list of the largest landing projects by allocated assets ($ 1.8 billion), according to DeFi Pulse..

Landing DeFi giant Compound ...

The price of the COMP token in the COMP / USDT pair at the time of this writing is 

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