{"id":615889,"date":"2023-03-09T07:49:18","date_gmt":"2023-03-09T13:49:18","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/09\/assessing-the-far-reaching-effects-of-compound-iiis-deployment-on-polygon\/"},"modified":"2023-03-09T07:49:18","modified_gmt":"2023-03-09T13:49:18","slug":"assessing-the-far-reaching-effects-of-compound-iiis-deployment-on-polygon","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/09\/assessing-the-far-reaching-effects-of-compound-iiis-deployment-on-polygon\/","title":{"rendered":"Assessing the far-reaching effects of Compound III\u2019s deployment on Polygon"},"content":{"rendered":"<div id=\"mvp-content-main\">\n<ul>\n<li><i><span>Polygon integration may positively impact Compound Finance\u2019s TVL, despite some limitations<\/span><\/i><\/li>\n<\/ul>\n<ul>\n<li><i><span>COMP holders have reduced<\/span><\/i><i><span> a significant portion of their asset holdings<\/span><\/i><\/li>\n<\/ul>\n<p><span>DeFi lending protocol <\/span><a href=\"https:\/\/ambcrypto.com\/?s=compound+finance\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span>Compound Finance<\/span><\/a> is in the news after it<span> announced finally deploying its third version to <\/span><a href=\"https:\/\/ambcrypto.com\/?s=polygon\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span>Polygon<\/span><\/a><span>. Contextually, Compound III is a streamlined version of the main Compound protocol. Here, the former allows the efficient supply of assets and borrowing of stablecoins against various collaterals.<\/span><\/p>\n<blockquote data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Compound III has been deployed to Polygon!<\/p>\n<p>You can now use WETH, WBTC, and MATIC as collateral to borrow USDC, with market-leading efficiency. <a href=\"https:\/\/t.co\/Ax5va7Uz5H\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">pic.twitter.com\/Ax5va7Uz5H<\/a><\/p>\n<p>\u2014 Compound Governance (@compgovernance) <a href=\"https:\/\/twitter.com\/compgovernance\/status\/1633164583111360512?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">March 7, 2023<\/a><\/p>\n<\/blockquote>\n<hr>\n<p><span>Is your portfolio green? Check the <\/span><a href=\"https:\/\/ambcrypto.com\/calculator\/compound-governance-token-profit-calculator\" data-wpel-link=\"internal\"><span>Compound Finance Profit Calculator<\/span><\/a><\/p>\n<hr>\n<h4><b>To lead the market in every manner<\/b><\/h4>\n<p><span>The disclosure, as stated above, would allow Wrapped <\/span><a href=\"https:\/\/ambcrypto.com\/?s=bitcoin\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span>Bitcoin [BTC]<\/span><\/a><span>\u00a0 nd <\/span><a href=\"https:\/\/ambcrypto.com\/?s=ethereum\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span>Ethereum [ETH]<\/span><\/a><span>, as well as MATIC, to be used as collateral. This development means that Compound will not only operate on the Ethereum Mainnet. So, it joins Aave as the other protocol on the Polygon network.<\/span><\/p>\n<p><span>For a fact, Polygon has recorded<\/span> <a href=\"https:\/\/ambcrypto.com\/polygons-ecosystem-registers-growth-but-these-metrics-sound-a-bearish-alarm\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span>significant growth<\/span><\/a><span> on several fronts already. Therefore, it is no surprise that the Compound community seems to be elated by the update. However, will the collaboration bring about a recovery in Compound\u2019s underwhelming Total Value Locked <\/span><span>(TVL)?<\/span><\/p>\n<p><span>According to <\/span><a href=\"https:\/\/defillama.com\/protocol\/compound-finance\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span>DeFi Llama<\/span><\/a><span>, Compound Finance had a TVL of $1.89 billion at press time. This positioned the project in ninth across the DeFi ecosystem. Here, the TVL measures the volume of crypto-assets bound by smart contracts in a particular protocol.<\/span><\/p>\n<div id=\"attachment_296088\">\n<p><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-08-at-12.17.10.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-296088\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-08-at-12.17.10.png\" alt=\"Compound Finance TVL\" width=\"1228\" height=\"321\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201228%20321'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-08-at-12.17.10.png 1228w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-08-at-12.17.10-300x78.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-08-at-12.17.10-1024x268.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-08-at-12.17.10-768x201.png 768w\" data-lazy-src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-08-at-12.17.10.png\"><\/a><\/p>\n<p id=\"caption-attachment-296088\">Source: DeFi TVL<\/p>\n<\/div>\n<p><span>For its part, Compound\u2019s TVL has fallen by 4.25% in the last 30 days alone. This has left it at one of its lowest points since 2022. This drop also implies that investor interest in the protocol is now nowhere near its height.\u00a0<\/span><\/p>\n<p><span>However, the recently-announced partnership could help Compound exit the status quo. Although it is not guaranteed, the public interest in Polygon might play a part and possibly trigger more unique deposits into protocols under Compound Finance.<\/span><\/p>\n<p><span>Meanwhile, COMP active addresses are far below that of Polygon. The metric acts as a good indicator of daily transactions over a particular blockchain. <\/span><\/p>\n<p><span>At press time, the 24-hour MATIC <\/span><a href=\"https:\/\/app.santiment.net\/charts\/F9LRpyqs__sCl\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span>active addresses<\/span><\/a><span> were 163000 while the same for COMP were 259. Thus, Compound interaction with Polygon has a chance to improve the protocol\u2019s unique transactions.<\/span><\/p>\n<div id=\"attachment_296091\">\n<p><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.28.38-08-Mar-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-296091\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.28.38-08-Mar-2023.png\" alt=\"COMP active addresses and MATIC active addresses\" width=\"2560\" height=\"867\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%202560%20867'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.28.38-08-Mar-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.28.38-08-Mar-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.28.38-08-Mar-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.28.38-08-Mar-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.28.38-08-Mar-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.28.38-08-Mar-2023-2048x693.png 2048w\" data-lazy-src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.28.38-08-Mar-2023.png\"><\/a><\/p>\n<p id=\"caption-attachment-296091\">Source: Santiment<\/p>\n<\/div>\n<hr>\n<p><span>How much are <\/span><a href=\"https:\/\/ambcrypto.com\/convert\/1-comp-to-usd\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span>1,10,100 COMPs worth today<\/span><\/a><span>?<\/span><\/p>\n<hr>\n<h4><b>Not in for the long ride?<\/b><\/h4>\n<p><span>Finally, COMP investors look to have disposed off some of the tokens held. This, because of the exchange inflow highs of 4 and 7 March. The exchange inflow hitting peak levels <\/span><a href=\"https:\/\/app.santiment.net\/charts\/F9LRpyqs__sCl\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span>suggests<\/span><\/a><span> an intention to sell an asset. However, at press time, the aforementioned resolve had not strengthened.<\/span><\/p>\n<p><span>Concerning the supply outside of exchanges, COMP flashed a figure of 8.66 million. Although it has been higher over the last few days, the figures are still lower than the same for February. This implies that some long-term holders have already cut short some parts of their holdings.<\/span><\/p>\n<div id=\"attachment_296089\">\n<p><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.42.41-08-Mar-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-296089\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.42.41-08-Mar-2023.png\" alt=\"COMP exchange inflow and supply outside of exchanges\" width=\"2560\" height=\"867\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%202560%20867'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.42.41-08-Mar-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.42.41-08-Mar-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.42.41-08-Mar-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.42.41-08-Mar-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.42.41-08-Mar-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.42.41-08-Mar-2023-2048x693.png 2048w\" data-lazy-src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-12.42.41-08-Mar-2023.png\"><\/a><\/p>\n<p id=\"caption-attachment-296089\">Source: Santiment<\/p>\n<\/div><\/div>\n<div id=\"mvp-content-bot\">\n<div id=\"mvp-author-box-wrap\">\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/IMG-9126-scaled-e1677641698928-80x80.jpg\" height=\"60\" width=\"60\" data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2060%2060'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/IMG-9126-scaled-e1677641698928-80x80.jpg\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<p>Victor is a full-time journalist at AMBCrypto. Before his sojourn into the world of journalism, he was a \u201cbuy the top, sell the bottom\u201d merchant while doubling as a sales funnel copywriter. Victor\u2019s focus is the exciting on-chain landscape of the cryptocurrency market and its underlying technology. His other interests include politics, sports, and marketing.<\/p>\n<\/p><\/div>\n<div itemprop=\"publisher\" itemscope itemtype=\"https:\/\/schema.org\/Organization\">\n<div itemprop=\"logo\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\">\n<p><img decoding=\"async\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\" data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%200%200'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\"><\/p>\n<p><meta itemprop=\"url\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<meta itemprop=\"name\" content=\"AMBCrypto\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/ambcrypto.com\/assessing-the-far-reaching-effects-of-compounds-deployment-on-polygon\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Victor Olanrewaju<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon integration may positively impact Compound Finance\u2019s TVL, despite some limitations COMP holders have reduced a significant portion of their asset holdings DeFi lending protocol Compound Finance is in the news after it announced finally deploying its third version to Polygon. Contextually, Compound III is a streamlined version of the main Compound protocol. Here, the<\/p>\n","protected":false},"author":1,"featured_media":615890,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37060,120093],"tags":[],"class_list":{"0":"post-615889","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-assessing","8":"category-far-reaching"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/615889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=615889"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/615889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/615890"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=615889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=615889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=615889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}