Compound Developer Community Call – July 28, 9:30am PT

On July 28, at 9:30am PT, the Compound community will hold its next Developer Community Call. This will be an open discussion forum for individuals and organizations developing protocol improvement proposals or building applications and projects that integrate the protocol.

Below is the high-level agenda for the upcoming call. Note that this call belongs to the community, and as a community member you are empowered to take this call in any direction you think best benefits the community. If you wish, you may help organize it, structure its agenda, lead it, etc.

  1. Welcome: Adam will provide a brief recap of the previous call.
  2. Proposal/Project Discussions : The following community members have volunteered to discuss the proposals and projects they are working on or considering working on.
  • Getty Hill - Asset Listing Update
  • Arr00 - Address Whitelisting for Governance
  • Sergio - Tiramisu’s Compound Integration
  • TylerEther - Isolated Markets Oracle
  • Max0x - Backd’s Compound Integration
  1. Open Forum: The community may ask questions of each other, request help/resources, introduce miscellaneous ideas, etc.

If there are any other proposals, projects, or topics you’d like to add to the agenda, please post on this thread or in the Compound Discord. Everyone is welcome to participate and contribute.

Lastly, the call will be audio-recorded; the recording and written notes will be shared in this thread for anyone who can’t make it.

Hope to see you on the call tomorrow!


Hi all! If there are a few minutes to spare after the other project discussions:

Several of us in the discussion about a distribution of COMP to early users thought it would be useful to update the community on recent progress in that thread.

I am not certain about my availability but happy to lead the update assuming I’m there.


Thank you to everyone who was able to join the community call today! Please find a link to the call here. I’ve posted notes from the call below:

Compound Developer Community Call Notes

Wednesday, July 28, 2021

Getty Hill - Asset Listing Update (starts at 1:04)

Getty provided an update on the process of adding additional assets to the Compound Protocol. This discussion involved two proposals, prop 53 and prop 54 [links], which aim to add MKR and AAVE, SUSHI, and YFI, respectively. Each asset will have a 0% collateral factor, a 25% reserve factor, and JumpRateV2 interest rate model . Borrow caps will vary among the assets and are as follows: MKR - 25k, Aave - 60k, yFi - 1.5k. You can read more about the new asset listings on the accompanying forum thread

Arr00 - Address Whitelisting for Governance (starts at 5:20)

Arr00 introduced a feature that would create a whitelist of addresses which could propose improvements. In the status quo, long-standing and trusted contributors are still required to rally 65k COMP tokens in order to propose improvements to the Compound Protocol. Arr00 explains that having a whitelist of addresses voted on by the community would greatly increase the proposal timelines for active protocol developers. As a safeguard, the community multisig would be given the ability to cancel proposals. Additionally, whitelist status will have an expiration date, after which contributors will have to request an extension.

TylerEther - Isolated Markets Oracle (starts at 9:30)

TylerEther discussed an oracle system which aggregates multiple DEX’s, as a first step in the creation of a permissionless listing of isolated market assets [link]. The current Chainlink oracle system only supports so many assets and pulls prices from Uniswap v2. In order to support a broader range of assets, an oracle is needed which can pull from multiple sources. The proposed oracle could pull from Uniswap v1, v2, v3, and Sushiswap. Tyler is continuing work on the oracle to streamline efficiency and reduce associated gas fees. While isolated markets are still a work in progress, questions from Getty and Robert revealed that the high level view would reflect a similar asset pair lending/borrowing scheme as employed by Uniswap and Sushiswap. You can find more information regarding this ongoing project here.

_neo - Tiramisu’s Compound Integration (starts at 15:20)

_neo discussed a wallet application called Tiramisu that won an award at the recent HackMoney Hackathon. Tiramisu offers a digital wallet for individuals to store their local currency as USDC. This USDC is then automatically lent out on the Compound protocol. These funds are always available and constantly growing at a rate far higher than traditional bank offerings. Additionally, Tiramisu has a built-in payment layer allowing users to spend directly from their Tiramisu wallet using IPFS and QR codes. More information about Tiramisu can be found in the whitepaper.

Max0x - Backd’s Compound Integration (starts at 20:50)

Max0x announced the upcoming launch of Backd in mid-August. Backd will be integrated for liquidation protection for Compound users. Borrowers will be able to earn yield while protecting their loans from liquidation. Borrowers will also be able to increase leverage and post less collateral on their loans all while continuing to mitigate their liquidation risk. Max0x also believes that the Backd integration will bring a new way for Compound users to leverage or hedge their assets. Backd does this with its novel ‘reactive liquidity pools’ which react to user’s positions and market conditions. Participants will earn Backd governance token rewards and can register their Compound loans to be topped up when the loan to collateral ratio reaches customizable risk parameters. Deeper explanations can be found on their website or on their fact sheet.

Allthecolors - Should Compound Retroactively Airdrop Tokens to Early Users? (starts at 29:55)

Allthecolors continued an ongoing discussion on a very popular forum discussion, “Should Compound retroactively airdrop tokens to early users?”. As part of the third round of Compound grants, allthecolors worked to compile a list of early users and sum their total interest earned or borrowed. He described a variety of developments he and additional community members have been exploring including: potential distribution shape parameters, implementation of a proposal to governance, and mechanisms which could power a safe distribution of tokens. Arr00 raised the concern that the discussion is centering around how to distribute tokens before the discussion around if the distribution should take place has been decided. Allthecolors explained that the developments do not presume the proposal will pass but simply aims to add options for debate should the community decide to proceed. The conversation will continue at next Wednesday’s Community Call.


Thank you for the summary! I am chiming in out of concern that the quoted snippet doesn’t reflect how I had hoped to represent the early user COMP thread in the call, so I worry others might have come to similar conclusions. To be clear, I did not mean to indicate or imply that any decisions have already been finalized, by me or anyone else, about what shape any distribution might take. I reported on recent progress of the discussion, which includes discussion of the merits and drawbacks of a possible distribution; exploration of distribution models; discussion of possible mechanisms for a distribution; and implementation for submitting a proposal to governance. Apologies for the impression that we view any of these as already decided, far from it!

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I appreciate the feedback and have attempted to edit the summary to better reflect the proper intention. It is well understood by myself that the developments presented were not presumptuous of the proposal passing but were presented to show that members are critically thinking about the mechanisms backing a safe and rational distribution. I look forward to hearing this conversation continued next Wednesday and appreciate all those raising opinions and engaging in the debate!