Compound Finance will provide cross-chain lending through Gateway
Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina), reprinted by Odaily with authorization.
Editor's Note: This article comes from
Cointelegraph Chinese (ID: CointelegraphChina)
Cointelegraph Chinese (ID: CointelegraphChina)
, reprinted by Odaily with authorization.
Decentralized finance lending protocol Compound has launched a new blockchain that will support cross-chain collateral.
This is the latest move to ease expensive operations on the Ethereum network and enable more interoperability in the DeFi ecosystem.
Announced on March 2, the new Gateway Chain is a cross-chain interest rate marketplace that allows users to borrow assets native to a chain like Ethereum and get collateral from another chain like Polkadot or Celo. Compound Finance originally announced the platform in December 2020, when it was called "Compound Chain".
Compound aims to alleviate the fragmentation problem across different blockchains in the current DeFi industry through Gateway, and chose the next-generation blockchain architecture Substrate to achieve this goal.
Substrate is also the basis for the development of the Polkadot main chain and parachains, and it is a modular framework that enables developers to create dedicated high-throughput blockchains. Compound founder Robert Leshner explained the reason for choosing blplatform in a blog post:
