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

The 3rd iteration of Compound called “Comet” volition enactment azygous interest-bearing assets arsenic the lending protocol undergoes a large upgrade.

With the Compound assemblage voting successful enactment of mentation 3, the lending protocol announced its caller features connected Aug. 26.

Today, pursuing a palmy COMP Governance proposal, Compound III is unrecorded 3⃣

Compound III is simply a streamlined mentation of the protocol, with an accent connected security, superior efficiency, and idiosyncratic experience.

For borrowers, it’s a game-changing upgrade.https://t.co/lmYs2DThBo

— Compound Labs (@compoundfinance) August 26, 2022

Compound v3 to diagnostic a azygous borrowing model

Compound has implemented a single-asset borrowing model, an upgrade from the pool-risk model.  The caller exemplary allows users to get a azygous interest-earning plus starting with USDC.

Users are allowed to get USDC utilizing ETH, wBTC, LINK, and UNI. The deposited collaterals tin beryllium withdrawn, but volition nary longer gain interest.

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

“While you won’t gain involvement connected collateral anymore, you volition beryllium capable to get more; with little hazard of liquidation and little liquidation penalities; portion spending little connected gas,’

More power to the community

A cardinal country of absorption for Compound was to springiness much power to the governance community. To amended participation, the governance process volition beryllium managed successful a azygous astute declaration “Configurator” for each deployment arsenic against having aggregate contracts for each proposal.

Compound besides transferred exclusive power implicit each aboriginal deployments and adjustments of marketplace parameters successful the community.

Compound v3 to power forks

Compound has introduced a business license to its codebase. The purpose is to power unauthorized forks arsenic requests to modify oregon transcript the codebase volition necessitate governance approval.

An improved acquisition for users

The Compound v3 interface got a facelift to amended the wide idiosyncratic experience. It redesigned its hazard management/liquidation motor to amended usability and summation the information of funds.

Developers tin leverage its improved relationship absorption tools to physique much decentralised applications (dApps) connected the protocol.

Leshner said that the upgrades volition marque Compound a much effectual and capital-efficient lending protocol.

Compound III is an unthinkable upgrade–designed to beryllium the astir effectual borrowing instrumentality available.

Safer, much superior efficient, amended presumption for borrowers, cheaper, quicker, lower-gas.

Tl;dr conscionable ticker this clip: https://t.co/lmROiyeUF7

— Robert Leshner (@rleshner) August 26, 2022

The station Compound v3 “Comet” launched with enactment for azygous borrowing model appeared archetypal connected CryptoSlate.