Compound’s enhanced DeFi lending platform aims for scalability and security

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The most recent version of Compound, termed Comet, enables users to borrow a single, interest-earning asset—USD coin (USDC)—while using wrapped bitcoin (wBTC) and native tokens from Chainlink (LINK), Uniswap (UNI), and Compound (COMP) as security. In order to improve the system’s security and scalability, Compound version 3 now uses Chainlink as the protocol’s exclusive pricing feed and streamlines governance smart contracts. The assets subject to the limited release methodology are restricted to $100 million, or around 2% of the $3.8 billion in assets owned by Compound v2.

Compound has released Compound v3, a fresh iteration of its decentralised finance (DeFi) lending platform. According to a blog post published on Thursday by the protocol’s creator, the limited production release lowers the number of supported tokens that can be loaned and collateralized on the system.

Highlights

  • Robert Leshner, the creator of Compound, claims that Compound v3 enables users to borrow more tokens with lower liquidation risks and fees.

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