Welcome to Compound Weekly, where we present updates from the Compound community & ecosystem. To learn more and contribute your updates, please join over 4,000 other members in our community Discord.
Community Vote Results
Compound's community vote #3 is now complete! Maker (MKR) and Tether (USDT) received the most votes from the 1,547 participating users; a total of 802,455 (weighted) votes out of approximately 2 million potential votes were cast.
Etherscan Compound Integration
Etherscan has integrated with Compound and now provides a detailed supply, borrow, and transactions tracker.
Coinbase USDC Bootstrap Fund
Coinbase is showing strong support for the growing DeFi ecosystem with a dedicated USDC fund, which supplied 1,000,000 USDC to the Compound protocol.
Robert Leshner says that the USDC Bootstrap Fund can be seen as “the starting point for the legitimization of open finance” and states:
“Coinbase is a financial institution and the fact that it’s engaging with open financial applications is going to be seen as a rallying cry for other institutions to do the same.”
Coinbase to Invest $2 Million USDC in DeFi Protocols from CoinDesk
Coinbase has announced a USDC Bootstrap Fund from TechCrunch
Launches & Updates
Constant launches Flex: Deposit account that earns interest from Compound in real-time - Constant launches a new USD and USD-stablecoin deposit account through a new integration with Compound. The Flex deposit account will earn users 5% APY on their current balance and users will be able to withdraw at anytime.
LoanScan announces Linen powered by Compound - Linen is a mobile wallet & linked debit card created by the Loanscan team, offering ~5% APR (powered by Compound). The waitlist is now open at https://linen.app.
Five key trends in Decentralized Finance from Consensus
Crypto Briefing discusses Compound popularity as DeFi dApps surge
Open Finance Volumes in the Spotlight including Compound from The Block
Ryan Sean Adams@RyanSAdamsIt takes 10,000 hobbyists to change the world 10,000 Usenet hobbyists gave us the internet 10,000 Homebrew computer hobbyists gave us the PC revolution 10,000 Bitcoin hobbyists gave us money without authorities 10,000 DeFi hobbyists are now giving us a bankless money system https://t.co/78uuXErghY
Current total supply is at $156.0 million, with 11,430 suppliers, and current total borrowing is at $39.7 million, with 1,347 borrowers.
For live figures please refer to our /markets page.
Interest is shaping up to be the killer app for DeFi says Balaji Srinivasan
Jon Ramvi receives salary in USDC with 50x higher interest than his traditional bank