Compound grant proposals for starports

1

I feel like a casual among pros here, but I’ll attempt to phrase my question. I’m a guy who is pretty much familiar with the Ethereum ecosystem, but not really with other chains. I really like Ethereum, and clearly Compound on Ethereum as well.

Now I see Compound Chain popping up, and I see even predating the grant program I see suggestions for proposals that would support starports for the Compound Chain on other blockchains.

Should I as an Ethereum user immediately recognize moving to multi-chain as the correct thing, and be in support of this? I do kind of see multi-chain being the direction we are going in, but as a happy Compound user, why should I support this multi-chain move?

Also sort of a protocol-agnostic question I have about this is how do protocols handle going multi-chain, when their governance token is an Ethereum ERC-20 token? What kind of safety should I feel that my Ethereum COMP holding is still the driving force and value of Compound protocol (or any other protocol making the same move)?

I hope this makes some sort of sense to someone, and I hope to be enlightened to the benefits of this move! I’m not really against, I’m just trying to make sense of it all.

2

I love Ethereum because I love emerging technologies. Like many in the industry, I started with Bitcoin and then learned about Ethereum. I think it is natural to be curious and learn about new things. I think multi-chain technology is still very nascent but worth exploring. There is a lot more upside to exploring multi-chain options than downside.

Compound Chain will be Ethereum dominated for a while. I do not view it as Compound giving up on Ethereum, but instead, they are trying to use its best qualities and fix its worst ones.

Compound plans to continue using the current COMP erc20 token and hold governance on Ethereum. At the moment, the testnet runs on PoA (proof-of-authority), but the plan is to transition to a PoS (proof-of-stake) once development gets firmed up.

4 Likes