Getting started on the Rinkeby testnet

Robert Leshner
Apr 15 · 2 min read

Today, we’re proud to announce the deployment of Compound v2 on Ethereum testnets Rinkeby, Kovan, and Ropsten— the protocol is now available for you to experiment with, and develop on top of.

If you’re new to using an Ethereum testnet, please see our beginner’s guide before proceeding.

v2 — Key Upgrades

  • Addresses now interact with Compound through asset gateways (cToken contracts)
  • Balances in Compound are represented as ERC-20 cTokens; you can now send your balance to cold storage, and earn interest offline 📈
  • Interacting with the protocol is easier than ever. There are tons of helper functions, and simple improvements; e.g. you can simply send Ether to the protocol to mint cEther. Go ahead, try it: on Rinkeby, send Ether to 0xd6801a1dffcd0a410336ef88def4320d6df1883e. That’s it — you’re using Compound v2
  • The risk model is upgradable; a future release will allow cToken holders to govern their market’s interest rate model and risk parameters

Documentation

The Compound Protocol and the smart contract architecture have had some significant improvements and changes; start by reading the full documentation.

Web Interface

We’ve built a basic web application, designed to mirror the original Compound application, so that you can test the basic functionality of the protocol. This is a work in progress, and is missing core functionality — over the coming weeks it will be updated in significant ways; please excuse any glaring bugs.

GraphQL

Developers can immediately begin building applications and interfaces on top of Compound V2; we’ve worked with The Graph to develop a Compound Subgraph, that you can use to query information about the protocol, markets, and users.

Testing Compound v2

Compound v2 has been audited by both Trail of Bits and Certora, and no significant security issues were found. However, as with any smart contract, there may be undiscovered bugs — if you report a critical flaw in the protocol, Compound can offer a significant bug bounty.

To discuss the changes, or make feature requests, join our Discord or tweet at us — we’d love to hear from you!

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.

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