Enzyme is thrilled to announce that Compound v3 lending is now available to all users in our ever-expanding list of DeFi protocols. Compound v3 is the latest version of the widely popular DeFi lending platform, which has over $540m TVL as of April 2023.
With this integration, Enzyme asset managers can now access the streamlined, efficient and secure features of Compound v3 to optimise their DeFi lending strategies.
What is Compound v3?
Compound v3 is the latest version of the Compound protocol, designed to offer a more secure, capital-efficient and user-friendly DeFi lending experience. Compound features a single borrowable asset. When you supply collateral, it remains your property. It can never be withdrawn by other users (except during liquidation). Capital efficiency increases too — collateral is more “useful” when you know which asset is being borrowed ahead of time.
Key features of Compound v3 include:
- A redesigned risk management and liquidation engine to enhance the safety of funds
- Market-wide limits on the size of individual collateral assets to mitigate risk
- Decoupled earn and borrow interest rate models, granting governance full control over economic policy
- Advanced account management tools to enable new user experience patterns and applications built on top of the protocol
- Chainlink as the exclusive price feed, ensuring compatibility with EVM chains beyond Ethereum
- Simplified governance through a single Configurator contract for managing protocol parameters
Why should you use Compound v3 on Enzyme?
The integration of Compound v3 with Enzyme enables asset managers to harness the power of this next-generation DeFi lending platform, benefiting from its advanced features and robust security measures. By using Compound v3 via Enzyme, asset managers can:
- Access a more secure, capital-efficient lending experience
- Save on gas fees due to Compound v3’s streamlined protocol design
- Enjoy full transparency and auditability via Enzyme’s UI
- Run composable DeFi strategies by leveraging Enzyme’s growing list of DeFi integrations
How to get started with Compound v3 on Enzyme
To start using Compound v3 on Enzyme, follow these simple steps:
- Connect your wallet on https://app.enzyme.finance/discover
- Navigate to DeFi Protocols, then select Compound v3
- Asset managers can then open positions based on the available collateral options
For more information, please visit our documentation here: https://docs.enzyme.finance/managers/trade/defi-protocols/compound
Interested in launching your own vault? 🚀
Enzyme’s v4 Sulu makes it easier than ever for asset managers to create custom on-chain strategies and access a wide range of DeFi dApps, 200+ digital assets, and now Compound v3, all within a single, trustless, and efficient platform.
At Avantgarde, we assist various clients, including HNWIs, family offices, crypto funds, DAOs, and institutions, in launching their DeFi strategies on Enzyme. Click here to get in touch, and a member of our team will reach out to you.
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