Compound Weekly, 9/03
|Sep 4, 2019|
Welcome to Compound Weekly, where we present updates from the Compound community & ecosystem. To learn more and contribute your updates, please join now over 4,000 other members in our community Discord.
Dharma relaunched as the easiest way to save money from anywhere in the world. Their new product is an easy to use interface, without the complexity of private keys, that provides access to stablecoin interest rates in Compound’s markets.
“After a thorough investigation, we decided that the best way to make this vision a reality is to leverage the Compound Protocol as a foundational layer in our technical stack. Through a combination of smart contracts layered on top of Compound and application-layer infrastructure for delivering a web2-caliber product experience, we decided the fastest way for us to bring the best product to market was to bootstrap on top of liquid, battle-tested infrastructure. We’re thrilled to collaborate with our friends at Compound in order to build the product we earnestly believe will bring DeFi services to the mainstream.”
Dharma Building with Compound from Yahoo Finance.
Dharma V2 Beta - First Look by DeFi Tutorials.
Community vote to select the next assets
The community vote to select the next two Compound assets has begun! Users can select from 12 assets, and votes are weighted by participation in Compound markets (weighted by interest earned, and paid) by signing an Ethereum message.
So far, over 1,188 users have voted, and have cast 700,000 (weighted) votes out of approximately 2 million potential votes. Voting ends in 8 days.
Updates & Press
ETH Berlin Interest Rate Hackathon Projects, leveraging Compound.
Comprehensive Guide to Using Compound from DeFi Tutorials.
Total supply in Compound increased +2.7% to $164 million, despite a continued multi-week decline in the USD price of Ether. Total borrowing decreased -2.9% to $45 million.
The count of suppliers grew +9.0% to 10,621, and the count of borrowers grew +1.5% to 1,326. The average supplier to the protocol is providing ~$15,000 while the average borrower is borrowing ~$34,000.
The three largest supplies this week were all for ETH: $4.8 million, $2.3 million, and $2.3 million. The three largest borrows were all for stablecoins: $1.1 million DAI, $0.5 million USDC, and $0.4 million DAI.
For live figures please refer to our /markets page.
Ryan Sean Adams writes “I do consider Compound one of the safest lending protocols today.”
DeFi lending surpasses P2P lending platforms like Prosper.com, Lending Club and others for the same first three year time period.
Upcoming DeFi Events
September 6-8th, 2019
Devcon 5, Osaka
SF Blockchain Week
(Members of the Compound team will attend)
October 28-November 3, 2019
Nov 8-10, 2019
Keep in touch with Compound