• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Friday, June 9, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

Compound v3 “Comet” launched with support for single borrowing model

August 26, 2022
in Altcoins
Reading Time: 2 mins read
A A
Compound v3 “Comet” launched with support for single borrowing model
ShareShareShareShareShare

The third iteration of Compound called “Comet” will support single interest-bearing assets as the lending protocol undergoes a major upgrade.

With the Compound community voting in support of version 3, the lending protocol announced its new features on Aug. 26.

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.https://t.co/lmYs2DThBo

— Compound Labs (@compoundfinance) August 26, 2022

Compound v3 to feature a single borrowing model

Compound has implemented a single-asset borrowing model, an upgrade from the pool-risk model.  The new model allows users to borrow a single interest-earning asset starting with USDC.

Users are allowed to borrow USDC using ETH, wBTC, LINK, and UNI. The deposited collaterals can be withdrawn, but will no longer earn interest.

In addressing changes to the collateral model,  Compound’s Founder Robert Leshner said:

“While you won’t earn interest on collateral anymore, you will be able to borrow more; with less risk of liquidation and lower liquidation penalities; while spending less on gas,’

More control to the community

A key area of focus for Compound was to give more control to the governance community. To improve participation, the governance process will be managed in a single smart contract “Configurator” for each deployment as against having multiple contracts for each proposal.

Compound also transferred exclusive control over all future deployments and adjustments of market parameters in the community.

Compound v3 to control forks

Compound has introduced a business license to its codebase. The aim is to control unauthorized forks as requests to modify or copy the codebase will require governance approval.

An improved experience for users

The Compound v3 interface got a facelift to improve the overall user experience. It redesigned its risk management/liquidation engine to improve usability and increase the safety of funds.

Developers can leverage its improved account management tools to build more decentralized applications (dApps) on the protocol.

Leshner said that the upgrades will make Compound a more effective and capital-efficient lending protocol.

Compound III is an incredible upgrade–designed to be the most effective borrowing tool available.

Safer, more capital efficient, better terms for borrowers, cheaper, quicker, lower-gas.

Tl;dr just watch this clip: https://t.co/lmROiyeUF7

— Robert Leshner (@rleshner) August 26, 2022

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits


Credit: Source link

Related articles

How Much Percent Must SHIB Rise To Reach $1?

How Much Percent Must SHIB Rise To Reach $1?

June 9, 2023
Coinbase outlook downgraded from stable to negative – Moody’s

Coinbase outlook downgraded from stable to negative – Moody’s

June 9, 2023
ShareTweetSendPinShare
Previous Post

DeGods Surge Sees it Surpass Doodles and Azuki

Next Post

Everything to Know About the New Chart-Eligible NFT Album

Related Posts

How Much Percent Must SHIB Rise To Reach $1?

How Much Percent Must SHIB Rise To Reach $1?

June 9, 2023

If Shiba Inu ever gets to $1, investors might submit their resignation letters as the token could print generational wealth....

Coinbase outlook downgraded from stable to negative – Moody’s

Coinbase outlook downgraded from stable to negative – Moody’s

June 9, 2023

Quick Take Credit rating agency Moody’s has downgraded the crypto exchange Coinbase from “stable” to “negative.” This decision comes after...

Exodus sees Q1 revenue drop to $13M but reports high customer loyalty

Exodus sees Q1 revenue drop to $13M but reports high customer loyalty

June 8, 2023

Crypto wallet company Exodus published its Q1 report on June 8, reporting over $13 million in revenue and its active...

BitGo to acquire 100% equity in Prime Trust parent following latter’s bankruptcy rumors

BitGo to acquire 100% equity in Prime Trust parent following latter’s bankruptcy rumors

June 8, 2023

What is CryptoSlate Alpha?A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›Connected to AlphaWelcome!...

CZ denies holding firms received $12B of Binance.US user funds

CZ denies holding firms received $12B of Binance.US user funds

June 8, 2023

Binance CEO Changpeng Zhao on June 8 countered SEC claims and denied that one of his holding firms received $12...

Load More
Next Post
Everything to Know About the New Chart-Eligible NFT Album

Everything to Know About the New Chart-Eligible NFT Album

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

XRP, Solana and Tradecurve price analysis

XRP, Solana and Tradecurve price analysis

June 2, 2023
How Optimism’s Game-Changer Could Impact OP Price

How Optimism’s Game-Changer Could Impact OP Price

June 4, 2023
AFKDAO collaborates with The Wake & unlocks the play-to-earn potential

AFKDAO collaborates with The Wake & unlocks the play-to-earn potential

June 5, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Ankr launches Enterprise RPC and AppChain Solutions on Azure Marketplace
  • How Much Percent Must SHIB Rise To Reach $1?
  • Crypto attorney calls on public to form amicus curiae in Coinbase, Binance suits

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$26,650.001.03%
  • ethereumEthereum(ETH)$1,848.540.20%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.02%
  • binancecoinBNB(BNB)$262.15-0.82%
  • usd-coinUSD Coin(USDC)$1.000.02%
  • rippleXRP(XRP)$0.543.20%
  • staked-etherLido Staked Ether(STETH)$1,847.190.23%
  • cardanoCardano(ADA)$0.319220-2.41%
  • dogecoinDogecoin(DOGE)$0.0703373.33%
  • solanaSolana(SOL)$19.041.41%
  • matic-networkPolygon(MATIC)$0.78-0.09%
  • tronTRON(TRX)$0.0783620.82%
  • litecoinLitecoin(LTC)$89.441.77%
  • polkadotPolkadot(DOT)$5.050.79%
  • avalanche-2Avalanche(AVAX)$14.171.76%
  • binance-usdBinance USD(BUSD)$1.000.04%
  • shiba-inuShiba Inu(SHIB)$0.0000080.46%
  • daiDai(DAI)$1.000.10%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,632.000.84%
  • uniswapUniswap(UNI)$4.640.01%
  • leo-tokenLEO Token(LEO)$3.540.69%
  • chainlinkChainlink(LINK)$6.040.89%
  • cosmosCosmos Hub(ATOM)$9.40-1.42%
  • okbOKB(OKB)$45.081.54%
  • moneroMonero(XMR)$142.95-1.10%
  • ToncoinToncoin(TON)$1.702.04%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • ethereum-classicEthereum Classic(ETC)$17.110.68%
  • stellarStellar(XLM)$0.0875450.04%
  • bitcoin-cashBitcoin Cash(BCH)$111.33-0.48%
  • true-usdTrueUSD(TUSD)$1.000.11%
  • lido-daoLido DAO(LDO)$2.210.12%
  • internet-computerInternet Computer(ICP)$4.302.94%
  • filecoinFilecoin(FIL)$4.11-0.58%
  • quant-networkQuant(QNT)$109.31-1.55%
  • AptosAptos(APT)$7.740.58%
  • hedera-hashgraphHedera(HBAR)$0.0486460.68%
  • crypto-com-chainCronos(CRO)$0.058543-1.54%
  • ArbitrumArbitrum(ARB)$1.140.73%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • nearNEAR Protocol(NEAR)$1.420.94%
  • vechainVeChain(VET)$0.017515-1.61%
  • apecoinApeCoin(APE)$2.90-0.03%
  • the-graphThe Graph(GRT)$0.113324-0.73%
  • paxos-standardPax Dollar(USDP)$1.00-0.01%
  • fraxFrax(FRAX)$1.000.27%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • eosEOS(EOS)$0.900.79%
  • rocket-poolRocket Pool(RPL)$47.540.28%