Compound v2 is Live

Transparent, fair, autonomous interest rate markets for all

Robert Leshner
May 23 · 3 min read

Today, we’re thrilled to announce the public launch of Compound v2, an interest rate protocol intended to power the financial markets & applications of the future.

Compound v2 is running smoothly on the Ethereum mainnet, and now supports , , , , , and .

Supplying liquidity to Compound is better than ever. Each market has its own cToken (cETH, cZRX…), which you’ll receive when you supply that asset to the protocol; cTokens represent your balance in Compound. View them in your wallet, program them, or send them to cold storage — it’s up to you!

Simply by holding cTokens, you’ll earn interest, which accumulates through the cToken’s exchange rate — over time, each cToken becomes convertible into an increasing amount of its corresponding token.

Compound is a Protocol

Compound is an open-source, autonomous, extensible protocol that runs 24/7 — perfect for developers looking to build products that help users earn interest, or finance their ambitions. We’re honored to launch with a few projects that have already integrated Compound v2:

Zerion

is a portfolio monitoring & management tool for open finance, and allows users to seamlessly earn interest.

Coinbase Wallet

is the easiest way to interact with Ethereum applications, and has integrated cToken balances.

Compound Interface

is our full-function product to interact with the Compound protocol, using Metamask or a web3 browser.

Opyn

is a decentralized margin trading platform built on Compound, Uniswap, and Dai. It allows users to go long or short their favorite Ethereum assets.

InstaDapp

provides a convenient Supply and Borrowing interface to Compound, alongside CDP and Uniswap support.

If you’re interested in building your own application, we’ve published for the protocol, market data , and .

One of the many ways you can interact with the Compound Protocol

Migrating to Compound v2

Compound v2 was , and the protocol was formally verified in partnership with . As with all smart contract platforms, there may be undiscovered issues — Compound offers a significant bug bounty, if you find anything amiss.

At your convenience, we recommend that you migrate to using these steps:

  1. Repay borrowed assets to v1
  2. Withdraw supplied assets from v1 (and unwrap WETH)
  3. Supply assets to v2
  4. Borrow assets from v2

The original protocol will continue to be accessible through its Ethereum , the , and . Over the next 4–8 weeks, borrow transactions will become disabled, while supply, withdraw & repay transactions will work in perpetuity.

If you have any questions, ideas, or issues, join us in — we’d love to hear from you.

From all of us at Compound, 📈.

Compound

The protocol for algorithmic, efficient Money Markets on the Ethereum blockchain. Seamlessly earn interest or borrow ERC-20 tokens without managing an order book.

Robert Leshner

Written by

Full-stack founder & product manager. Chartered Financial Analyst, previously a finance guy.

Compound

Compound

The protocol for algorithmic, efficient Money Markets on the Ethereum blockchain. Seamlessly earn interest or borrow ERC-20 tokens without managing an order book.