DeFi community raises centralization concerns over Compound Chain
Ethereum proponents and DeFi enthusiasts alike have panned plans by Compound Finance to launch its own blockchain in 2021. DeFi lending protocol Compound published a white paper on Thursday introducing Compound Chain, a new blockchain aimed at providing cross-chain value transfer capability. Reactions to the news have been overwhelmingly negative with many respondents on social media taking issue with the perceived centralization concerns associated with the project. Perhaps expecting a negative response from "Crypto Twitter," Compound Labs even limited replies on its tweet announcing the....
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Compound, one of the leading defi-based protocols, is launching a new service called Treasury. Compound’s Treasury is a new product designed to help institutions enter the defi space. Launched in partnership with Circle and Fireblocks, it skips the uber astounding rates conventional defi protocols offer. However, it seeks to offer stable revenue for companies looking to get passive income from their funds in dollars. Compound to Coax Institutions With Treasury Compound Labs, the company behind the Compound defi protocol, launched Treasury, a new defi service designed for....
Cross-chain collateral will soon be available with Compound Finance. Decentralized finance lending protocol Compound has unveiled a new blockchain that will enable cross-chain collateral.It is the latest move to mitigate expensive operations on the Ethereum network and enable more interoperability in the DeFi ecosystem.The new Gateway chain, announced on Mar. 2, has been described as a cross-chain interest rate market that allows users to borrow assets that are native to one chain, such as Ethereum, with collateral from another chain, such as Polkadot or Celo. Compound Finance originally....
Compound, one of the trademark defi protocols on the Ethereum blockchain, is experiencing a bug that allows users to reclaim unusually high amounts of its native token. The issue was caused by the implementation of a proposal that modified the contract that awards tokens to users. Compound Labs founder Robert Leshner declared that user funds were safe and that the bug would have to wait seven days to be patched due to platform policies.
Compound Hit With Distribution Bug
Compound, one of the leading decentralized finance platforms built on top of Ethereum, is experiencing a bug....
Compound Finance’s native token COMP was among the biggest gainers in the decentralized finance space on Wednesday. The fourth-largest DeFi token by market cap surged by more than 10 percent, hitting an intraday high of $154.08 as traders assessed a flurry of upside fundamentals around it. A pseudonymous analyst noted that the Compound protocol lured […]
Lenders on decentralized finance (defi) protocol Compound on Thursday got liquidated for a massive $103 million, according to analytics provider Loanscan. This happened after what appears to be an oracle exploit on the Dai stablecoin. An apparent error or malicious attack to the Dai-dollar-peg data supplied by the Coinbase oracle pushed the price of the stablecoin to about $1.30 – a premium of 30% – leaving some users on Compound under-collateralized. Compound gets its pricing data from Coinbase Pro. Now, once this happened, and based on the built-in protocol rules, this could....