Popular

Compound releases white paper for new cross-chain protocol

advertisement

The team behind money market protocol Compound has released a white paper detailing Compound Chain, a new tool they say could bring more assets into the protocol from numerous ledgers. 

The announcement describes Compound Chain as "a distributed ledger capable of transferring value and liquidity between peer ledgers." In other words, users can borrow and lend cross-chain assets from different blockchains like Polkadot and Tezos, in the Compound Chain. 

The blockchain will have its own native token called CASH, which will be used to pay for transaction fees. 

According to the announcement, the blockchain will still be governed by the traditional Compound Governance structure via COMP tokens on Ethereum. 

The team says it is building a limited-feature testnet implementation, which it expects to release in early 2021. 

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Investing giant Pimco is considering trading cryptocurrencies

Pimco, a $2 trillion investment firm, could potentially begin trading spot cryptocurrencies, the firm’s chief investment officer Daniel Ivascyn confirmed to CNBC.  The firm, which has engaged with the market via crypto-linked securities, is now looking at “trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the […]
Read Full Story
Oct 20, 2021, 6:59PM UTC

Here's how one of NYSE's largest market makers is breaking into DeFi

On this episode of The Scoop, founder Ari Rubenstein and founder & CEO Ryan Sheftel joined host Frank Chaparro to discuss the launch of their new crypto firm, called Radkl. Radkl, which was born out of trading firm and New York Stock Exchange market maker GTS, is a new digital asset trading business. GTS currently […]
Read Full Story
Oct 20, 2021, 2:23PM UTC
More