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A lot of folks believe @compoundfinance / $COMP came out of left field. Anything but.
It takes a long time to become an overnight success, and it often requires standing on the shoulders of giants.
Some history:
It takes a long time to become an overnight success, and it often requires standing on the shoulders of giants.
Some history:
In 2017, we had a vision for a decentralized money markets.
This wouldn't have been possible without the @ethereum Foundation, @Consensys, and countless builders developing Ethereum into a full ecosystem that was usable, and viable to deploy smart contracts on.
Thank you.
This wouldn't have been possible without the @ethereum Foundation, @Consensys, and countless builders developing Ethereum into a full ecosystem that was usable, and viable to deploy smart contracts on.
Thank you.
In September 2018, we launched Compound v1; this is where the majority of our original work was done:
Pooled liquidity, instead of order-books
Algorithmic interest rates, based on supply/demand
Interest rate indices (for adjusting balances across unlimited users)
Pooled liquidity, instead of order-books Algorithmic interest rates, based on supply/demand Interest rate indices (for adjusting balances across unlimited users)
In v2, we introduced the concept of a cToken, which is a tokenized balance.
This was inspired by fortunate conversations with @delitzer who was exploring composability in DeFi.
Thank you. https://tokeneconomy.co/superfluid-collateral-in-open-finance-8c3db15efac
This was inspired by fortunate conversations with @delitzer who was exploring composability in DeFi.
Thank you. https://tokeneconomy.co/superfluid-collateral-in-open-finance-8c3db15efac
The Compound Governance system is based on the concept of proposals and community decision-making.
We never could have designed it without the creativity and work of @RuneKek and @MakerDAO for creating the first usable governance process.
Thank you. https://compound.finance/governance
We never could have designed it without the creativity and work of @RuneKek and @MakerDAO for creating the first usable governance process.
Thank you. https://compound.finance/governance
$COMP natively integrates vote delegation into the token itself, which allows you to delegate from an offline wallet, and other cool features.
This was inspired by a lot of the work done in Tezos by @ArthurB / @breitwoman and crew.
Thank you. https://blog.coinbase.com/coinbase-custody-rolls-out-support-for-compound-governance-2e8984721e61
This was inspired by a lot of the work done in Tezos by @ArthurB / @breitwoman and crew.
Thank you. https://blog.coinbase.com/coinbase-custody-rolls-out-support-for-compound-governance-2e8984721e61
The $COMP Distribution is an experiment in giving away the majority of value to users and participants in the protocol.
This was inspired by @kaiynne and @synthetix_io experiments in DeFi incentive design, and Satoshi's #Bitcoin
whitepaper.
Thank you. https://medium.com/compound-finance/expanding-compound-governance-ce13fcd4fe36
This was inspired by @kaiynne and @synthetix_io experiments in DeFi incentive design, and Satoshi's #Bitcoin
whitepaper.Thank you. https://medium.com/compound-finance/expanding-compound-governance-ce13fcd4fe36
I hope that this is just the beginning of an entire generation of DeFi applications, which can hopefully be inspired by some or all of the things that Compound has done so far.
