Select the next Compound asset

An upcoming community vote

Robert Leshner
Aug 14, 2019 · 2 min read

When an asset is added to the Compound protocol, it’s upgraded with two new superpowers — a liquid interest rate that token-holders can earn, and the ability to use the asset as collateral (to frictionlessly borrow other supported tokens, such as Ether or Dai).

Adding an asset to the protocol is a significant milestone, and one that the protocol’s users control. Today, we’re pleased to announce that in approximately two weeks a community vote will begin to select the next Compound asset.

Image for post
Image for post

Compound users will have the opportunity to vote for one of twelve potential assets:

All Compound protocol users will be eligible to participate in the community vote, weighted by usage of the protocol (measured by lifetime interest earned + interest paid). This is an experimental “Sybil-resistant” voting mechanism, which is designed to allocate governance proportional to impact.

Voting will last for 14 days, after which the 2 winning tokens will be added to the protocol following the creation of cToken integration contracts, successful security audits, and a determination of suitability.

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

Compound

Compound is an algorithmic, autonomous interest rate protocol built for developers.

Robert Leshner

Written by

Full-stack founder of Compound. Chartered Financial Analyst, previously a finance guy.

Compound

Compound

Compound is an algorithmic, autonomous interest rate protocol built for developers, to unlock a universe of open financial applications.

Robert Leshner

Written by

Full-stack founder of Compound. Chartered Financial Analyst, previously a finance guy.

Compound

Compound

Compound is an algorithmic, autonomous interest rate protocol built for developers, to unlock a universe of open financial applications.

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store