Compound Iii protocol
Overview
Compound III, codenamed Comet, is the third major version of the Compound lending protocol, an EVM-compatible money market governed by COMP token holders. Its defining design choice is a single borrowable 'base asset' per market: users supply approved crypto assets purely as collateral and can only borrow the base asset, which on the initial Ethereum deployment is USDC. Suppliers of the base asset earn interest, while collateral assets do not earn interest but are also not lent out, which materially reduces the risk surface compared with Compound V2's model of borrowing many assets against a shared pool. Each market lives behind a proxy contract — cUSDCv3 on Ethereum — which is the address users and integrators interact with rather than the implementation. Deployments and contract addresses are published in the Comet repository. The protocol has been audited by OpenZeppelin and ChainSecurity, publishes verifiable source and runs a bug bounty. Compound III launched on Ethereum mainnet with USDC as its base asset, replacing V2's multi-asset borrowing model with a single-borrowable-asset architecture, and has since been deployed to additional networks under COMP governance.
Within the DeFi Intel graph, Compound Iii connects to 18 tracked entities, most strongly to Compound Labs, Gauntlet, Ethereum.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 10 of 18 total).
| Relation | Connected entity | Confidence |
|---|---|---|
developed | Compound Labs | 95% |
risk_manager_for | Gauntlet | 90% |
deployed_on | Ethereum | 85% |
deployed_on | Arbitrum | 85% |
deployed_on | Base | 85% |
deployed_on | Polygon | 85% |
deployed_on | Optimism | 85% |
deployed_on | Scroll | 85% |
deployed_on | Mantle | 85% |
audited_by | OpenZeppelin | 85% |
Frequently asked questions
What is Compound Iii?
Compound Iii is a lending tracked in the DeFi Intel knowledge graph. It is connected to 18 other tracked entities, most strongly to Compound Labs, Gauntlet, Ethereum.
What type of entity is Compound Iii?
Compound Iii is classified as a lending (protocol) in the DeFi Intel knowledge graph.
What is Compound Iii connected to?
In the DeFi Intel knowledge graph, Compound Iii is linked to 18 other tracked entities, most strongly to Compound Labs, Gauntlet, Ethereum.
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