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The Compound landing project has announced that it is ready to launch the third version of the protocol called Comet. The initial distribution of Compound III is a
The Compound landing project has announced that it is ready to launch the third version of the protocol called Comet.
The initial distribution of Compound III is a USDC market on Ethereum. Contracts are on the mainnet and can be activated by Unified Management.
Next generation borrowing protocol is approaching launch 📈https://t.co/DkcjiqTgoS
— Compound Labs (@compoundfinance) 15 August 2022
According to the developers, the update marks the platform’s transition to a multi-chain approach.
Kevin Cheng, Senior Software Engineer at Compound Labs noted that the first implementation of Comet will be a marketplace based on the USDC stablecoin. It will then add support for five crypto assets that are also available as collateral: WBTC, WETH, UNI, LINK and COMP.
Cheng emphasized that the latest versions of the new smart contracts are ready for real-time distribution. Audited by OpenZeppelin and ChainSecurity.
Comet launch will happen as soon as possible DAO will take the appropriate decision.
Recall that the composite community voted in March to halve the rewards in local COMP tokens.
Source: Fork Log
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