• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Saturday, January 28, 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

DeFi Lending Protocol Compound Launched its Compound III Version

August 27, 2022
in Blockchain
Reading Time: 2 mins read
A A
ShareShareShareShareShare

Decentralized Finance (DeFi) lending protocol Compound has announced that it has officially launched its Compound III (V3) on the Ethereum mainnet.

Related articles

U.S. Representative French Hill offers insights into digital asset regulations

January 27, 2023

Storj Price Prediction for Today, January 27: STORJ/USD Hits $0.40 Resistance

January 27, 2023

Compound III is an EVM-compatible protocol that enables supplying crypto assets as collateral to borrow the base asset.

Unlike in the past, this new version only supports one “underlying asset” for lending. It provides other encrypted assets as collateral, getting rid of the “mixed risk model that users can borrow any asset”.

Currently, ETH, WBTC, LINK, UNI, and COMP have been used as collateral to lend the underlying asset USDC.

Since Compound V2 uses the pool risk model as the way most loan agreements like Aave currently work, users can borrow any digital asset, but poorly performing assets can threaten other assets in the Compound lending protocol, resulting in the insecurity of investors’ funds.

Therefore, this upgrade allows users to limit the size of individual collateral assets within the market to limit risk.

This improved security comes at a price. The collateral provided will no longer earn interest.

Compound founder Robert Leshner said that although users can no longer earn interest through collateral, they can borrow more, improve capital utilization, reduce liquidation risk, and spend less on Gas Fees.

Users can earn interest by providing lower-risk underlying assets. With this upgrade, Compound III’s main competitor was no longer Aave, but MakerDAO.

Official data shows that Compound III has accumulated about $1.03 million in assets and lent 56,000 USDC within 24 hours of its launch.

Image source: Shutterstock

Credit: Source link

ShareTweetSendPinShare
Previous Post

Former South Korean Deputy Minister Yong-beom Kim Joins Blockchain Research Institute

Next Post

Abu Dhabi establishes a committee to oversee crypto regulation

Related Posts

U.S. Representative French Hill offers insights into digital asset regulations

January 27, 2023

To guarantee that "America remains the home for innovation in fintech and blockchain," the chairman of a recently established congressional...

Storj Price Prediction for Today, January 27: STORJ/USD Hits $0.40 Resistance

January 27, 2023

Join Our Telegram channel to stay up to date on breaking news coverage The Storj price prediction reveals that STORJ...

BTC/USD Ranges as Price Targets $24k Resistance

January 27, 2023

Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price prediction is falling again...

Fantom FTM Crypto Price Prediction 2023 – Best DApp Platform Returns?

January 27, 2023

Join Our Telegram channel to stay up to date on breaking news coverage Fantom crypto has soar in price recently....

Kevin Rose, co-founder of Moonbirds, falls victim to phishing attack

January 27, 2023

Kevin Rose, who is also the co-founder of the nonfungible token (NFT) collection Moonbirds, has been a victim of a...

Load More
Next Post

Abu Dhabi establishes a committee to oversee crypto regulation

Leave a Reply Cancel reply

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

Recommended

Bitcoin hodlers hold as coins flow off centralized exchanges

January 10, 2023

Nexo claims that it “has not given up” on helping rival cryptocurrency lender Vauld

December 28, 2022

Bitcoin could be the answer to the US’ spiraling debt

January 27, 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!

  • U.S. Representative French Hill offers insights into digital asset regulations
  • NFT Collection Laid Back Llamas Collection Price, Stats, and Revi…
  • Coinbase stock surged 90% in January

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)$23,086.000.11%
  • ethereumEthereum(ETH)$1,599.12-0.25%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.00%
  • usd-coinUSD Coin(USDC)$1.000.01%
  • binancecoinBNB(BNB)$308.281.14%
  • rippleXRP(XRP)$0.4136660.78%
  • binance-usdBinance USD(BUSD)$1.00-0.06%
  • cardanoCardano(ADA)$0.3924692.78%
  • dogecoinDogecoin(DOGE)$0.0876641.26%
  • matic-networkPolygon(MATIC)$1.163.68%
  • solanaSolana(SOL)$24.460.54%
  • okbOKB(OKB)$36.290.94%
  • staked-etherLido Staked Ether(STETH)$1,595.48-0.28%
  • polkadotPolkadot(DOT)$6.612.06%
  • shiba-inuShiba Inu(SHIB)$0.0000120.66%
  • avalanche-2Avalanche(AVAX)$21.1716.39%
  • litecoinLitecoin(LTC)$88.901.56%
  • tronTRON(TRX)$0.0635282.67%
  • uniswapUniswap(UNI)$6.881.44%
  • daiDai(DAI)$1.000.16%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,022.000.00%
  • cosmosCosmos Hub(ATOM)$13.583.62%
  • ToncoinToncoin(TON)$2.556.46%
  • chainlinkChainlink(LINK)$7.392.86%
  • leo-tokenLEO Token(LEO)$3.855.34%
  • moneroMonero(XMR)$180.054.86%
  • ethereum-classicEthereum Classic(ETC)$22.040.12%
  • AptosAptos(APT)$17.78-2.13%
  • bitcoin-cashBitcoin Cash(BCH)$135.070.71%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • stellarStellar(XLM)$0.0928750.71%
  • apecoinApeCoin(APE)$6.312.56%
  • quant-networkQuant(QNT)$153.252.28%
  • nearNEAR Protocol(NEAR)$2.571.40%
  • crypto-com-chainCronos(CRO)$0.0823381.68%
  • filecoinFilecoin(FIL)$5.40-0.89%
  • lido-daoLido DAO(LDO)$2.403.05%
  • algorandAlgorand(ALGO)$0.2555673.61%
  • vechainVeChain(VET)$0.0249163.84%
  • hedera-hashgraphHedera(HBAR)$0.0697303.37%
  • internet-computerInternet Computer(ICP)$6.083.71%
  • axie-infinityAxie Infinity(AXS)$11.54-2.54%
  • aaveAave(AAVE)$87.24-2.36%
  • decentralandDecentraland(MANA)$0.680.64%
  • eosEOS(EOS)$1.112.06%
  • fantomFantom(FTM)$0.466583-3.01%
  • the-sandboxThe Sandbox(SAND)$0.750.81%
  • flowFlow(FLOW)$1.09-2.57%
  • theta-tokenTheta Network(THETA)$1.125.74%