The developers of the Compound Algorithm Protocol announced the launch of the Testnet network of their own blocks called Gateway
COMPOUND developers, mainstream lending project in the market of decentralized finance (DEFI), launched the Testnet network of its own blocks called Gateway. About this COMPOUND CHAPTER Robert Lesner wrote in his blog.
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The new blockchain, deployed on the base of the substrate framework, is adjusted using COMP tokens. The blockchain is expected to make it easy to borrow on different blocks without binding to the tokenized assets (for example, WBTC on the Ethereum blockchain).
Percentages are accrued and paid using CASH, native Gateway token. With this token, users can also cover commission costs within the network.
Developers intend to conduct an audit code in the coming months. Also in developers plans to improve the indicators of the battery test network and run the Compound Chain MainNet network. However, when the MAINNET-network of the project is running, it is not yet known.
Blocked for credits
For the first time about the blockchain, Compound Chain became known in December 2020. Then the developers stated that using Compound Chain users will be able to borrow token from other registries, including Polkadot, Solana, Optimism, Quorum and Celo.
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Meanwhile, Compound has risen to the second line of the DEFI Pulse rating in terms of money posted in the project.
So, at the time of writing the material in the project there is $ 4.9 billion. We note that in December last year, Compound was on a third line with $ 1.83 billion.
Source: CoingEcko.com.News On the launch of the Testnet network has positively reflected in the COMP course. Comp / USDT trade pair jumped 20% to $ 520.
We will remind, Compound has become one of the first DEFI projects, because of which the excitement began around the market for decentralized finances in the summer of 2020. The success of the project was so loud that in just a week after the start, the volumes of USDT on the protocol of cryptocurrency lending rose to $ 237 million.
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