Crypto lending firm Compound has announced that its borrowing and lending protocol is now live on Base, the Layer 2 solution developed by Coinbase. Compound currently has a USDC bridge and an ETH market on Base and is working towards expanding its base protocol towards other interoperability segments.
Notably, the protocol also launched Arbitrum’s native USDC market on . This enables users to transfer from Arbitrum’s market to other chains (via Circle’s cross-chain transfer protocol, or CCTP), without needing an .
The native USDC market on @arbitrum is live on Compound.
Users can transfer native USDC from the Arbitrum market to different chains via @circle Cross-Chain Transfer Protocol (CCTP), without needing to bridge back to Ethereum.
View the new market:https://t.co/9yObhMLsMP
— Compound Labs (@compoundfinance) September 6, 2023
Core changes that come with the launch on Base are explained briefly in a by the platform:
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Author: Vince DioquinoDid you like this?
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