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📅 July 3, 7:00 – July 9,
Compound Finance (COMP) officially announces the launch of Compound III on the Ethereum Mainnet.
Unlike Compound II, Compound III is a single lending market that only supports a single collateral asset chosen by the community through governance proposals.
The first market launched on Ethereum is the USDC collateral market. Users can collateralize USDC and borrow from seven other available assets, including Ether, wBTC, UNI, LINK, COMP, DAI, and WBTC.
In addition, Compound III has introduced improvements to the borrowing mechanism: no liquidation, higher capital efficiency, dynamic interest rates and collateral factors, and an automated interest rate model.
Compound III has also implemented improvements in security and protocol level: more concise and flexible code, independent reserves, lending isolation, improved oracles, etc.