Welcome to Compound’s latest newsletter! In this issue:
Eidoo launches its new DeFi Exchange product, enabling users to easily access DeFi protocols, starting with Compound.
New data dashboard DefiSnap enables users to easily track and visualize DeFi assets and liabilities in one comprehensive view.
Rho proposes a protocol for fixed interest rate swaps built on Compound’s variable interest rate markets.
Recent protocol updates include adjustments to the interest rate models for the cUSDC/cETH markets; and an adjustment of the collateral factor for cREP.
Eidoo Launches DeFi Exchange, Enabling Easy Access to Compound
Users who have Eidoo downloaded can access DeFi Exchange on both mobile or desktop, and frictionlessly supply assets to Compound and acquire interest-earning cTokens.
For more details on the integration, see the “Learn More” resource on Eidoo’s blog.
Visualize Balances Across DeFi Protocols with DefiSnap
DefiSnap is a new platform for simple, snappy, all-in-one monitoring of any Ethereum address’s balances (assets and liabilities) across various DeFi protocols, including Compound.
Try inputting an Ethereum address or ENS domain of interest to the DefiSnap dashboard here!
Rho Specification Released; Facilitates Fixed Interest Rates on Compound
Today I’m releasing Rho, a full spec for an on-chain interest rate swaps protocol designed as an automated market maker. With Rho, traders can open positions directly with the protocol at any time instead of having to wait for a counterparty.
January 23rd 2020
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The Rho Protocol proposes a first-of-its-kind exchange for on-chain interest rate swaps using an automated market maker mechanism; like Uniswap but for transforming users’ open-term, variable interest rate borrows or supplies on Compound into fixed-term, fixed-rate borrows or supplies.
Using Rho, an interest rate speculator or hedger would be able to instantly access fixed or variable interest rate swaps by transacting with the Rho protocol directly, at any time, instead of having to ever wait for a counterparty to take the opposite side of the desired swap.
Links & Discussions
I took out a loan with cryptocurrency and didn’t sign a thing on Mashable walks through using Argent to access Compound and Maker.
Computers that can make commitments by Chris Dixon of a16z Crypto discusses Compound.
The Year in Ethereum 2019 by Josh Stark and Evan Van Ness discusses the growth of Compound, and the introduction of cTokens into DeFi.
Laura Shin’s Unconfirmed podcast featured Leighton Cusack on PoolTogether: Save Money, With a Chance to Win.
The interest rate models for the cUSDC and cETH markets on Compound have been adjusted to use 0x0c3f8df27e1a00b47653fde878d68d35f00714c0, modestly lowering borrowing costs.
For users interested in tracking interest rate models for assets on Compound, models are always available on-chain, and viewable on Etherscan (e.g. cUSDC). For a more human-readable format, we recommend this notebook: https://observablehq.com/@jflatow/compound-interest-rates.
Separately, the proposal to change cREP’s collateral factor from 50% to 40% passed the mandated governance timelock, and the change is now live.
Current supply is at ~$145 million from over 15,000 unique addresses. In the past seven days, approximately $19 million (gross) was supplied to Compound. About two-thirds of this volume was DAI and USDC; about one-third was ETH.
Open borrowing is at ~$32 million from over 1,400 unique addresses. In the past seven days, approximately $1.9 million (gross) was borrowed from Compound. About three-quarters of this was volume was DAI and USDC; the remainder was mostly WBTC.
For live figures on Compound please refer to our Markets page.
Tweet of the Week
First time an Aragon DAO is paying salary to tokenholder using @SablierHQ @AragonProject
January 24th 2020
10 Retweets56 Likes