Compound launched the Test Network Gateway based on Compound Chain White Paper
On March 2nd, the Compound Team announced the release of a prototype based on the Compound Chain whitepaper called Gateway. It is understood that Gateway is a Substrate blockchain governed by COMP token holders on Ethereum.
Compound Finance founder Robert Leshner stated in the article that Gateway will operate as a test network and connect to Ethereum's Ropsten test network. In addition, he said he expected the test network to be up and running for two months before being fully launched.
Compound Labs released a new white paper on December 18 last year, introducing the new tool Compound Chain in detail. Compound Chain is a distributed ledger that transfers value and liquidity between peer-to-peer ledgers, allowing users to borrow and lend cross-chain assets from different blockchains such as Polkadot, Quorum, Solana, and Celo. Compound Chain, which aims to complement Ethereum contracts, plans to issue native token CASH to pay transaction fees, with comps still serving as governance tokens.
Further reading:"What is the Compound Chain?"
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