Compound Labs have built an autonomous interest rate protocol for developers.  The Compound Labs team are actively building a testnet implementation with a limited feature set, which they expect to get released in the next quarter.

The Documentation for developers and validators is set to be made available in the forth coming weeks.  Compound Labs are set to reinvent finance in the blockchain space.

Compound Chain is a tool, which will bring in more assets into the protocol from a variety of ledgers like Polkadot, Solana, optimismPBC, Quorum, CeloOrg, etc. The Protocol is designed in a way to compliment the Ethereum contract.  It is set to be controlled by COMP governance, and extend the DeFi network effects.

The White Paper for Compound Chain was recently released.  The Compound Chain is a distributed ledger capable of transferring value and liquidity between peer ledgers.

There has been a community Autonomous Proposal to distribute 55,255 COMP to DAI borrowers liquidated on 11/26 and it has gathered the necessary support to become Proposal 32.

Of note, earlier this year COMP governance has replaced centralized control of the Compound Protocol.  The community has bloomed.  There are nearly 32 upgrade proposals with new features, new markets, and massive growth.  They are researching methods to expand and improve decentralized finance.

Commenting on Compound Finance, Sydney Ifergan, the crypto expert opined:  “The recent developments in Compound Finance (COMP) are interesting, particularly the Compound Chain tool.”

There are useful guides on setting up an Ethereum Development Environment, supplying assets to the Compound Protocol, Borrowing Assets from the Compound Protocol, and Creating Compound API.  

Compound Finance Autonomous Interest Rate Protocol

For those, who are just getting to know Compound Finance, in simple terms Compound is an algorithmic, autonomous interest rate protocol, which is built for developers to unlock a universe of open financial applications.

Those who want to try compound will want to try the community-built interfaces, which integrates the protocol.

Institutions like Coinbase Custody, Anchorage, Fireblocks, Bitgo, Curv, Lumina, Tokentax, Cointracker, CryptoTaxTools provide different supports for COMP like security custody, trading, staking, moving assets between exchanges, secure access, institutional-grade portfolio management, tax accounting and more.

World Class investors like BainCapital Ventures, Coinbase, a16z, Paradigm, Polychain Capital, Dragonfly Capital, are a part of the Compound Finance team.

The legacy financial systems are very slow, inefficient, and constrained by intermediaries. Compound labs are focusing to change inefficiency and slowness in the process.  Being an open source, software Development Company, Compound Labs are building the tools, products and services for the Decentralized Finance (DeFi) ecosystem.