Q1 Product Update [2023]

It’s been 6 months since the launch of Compound III, the newest iteration of the Compound protocol. Since launch the community has deployed two new markets–including the first cross-chain deployment. As of today there are ~$650M of assets supplied across three deployments:

In parallel, the Compound III Dashboard has been constantly improving, adding features such as bulking actions into a single transaction and extensions.

Over the last 6 weeks there have been a myriad of other interface improvements to be highlighted below. The v3 interface is far from complete, but for the first time, all core protocol actions and market data can be found within a single application: Dashboard, Markets, Vote, and Extensions.

Mobile Optimized
While the majority of v3 interface users use a desktop device, using DeFi on your mobile device has become increasingly popular with wallet providers delivering an improved mobile experience. All aspects of the v3 interface have been upgraded to not just have a mobile experience that works, but a delightful experience that may have you never returning to the desktop.

Improved COMP Claiming
With the expansion to multiple deployments, across different networks, the process of tracking and claiming COMP has been streamlined. The COMP dropdown in the menu bar now displays your token balances and unclaimed balances across networks, with the ability to claim COMP from multiple deployment in a single transaction.

Upgraded Vote Experience

The Vote tab has been rebuilt into the Compound III interface, and refreshed with new styling. You can now vote on proposals without needing to visit a different url–streamlining the Compound ecosystem.

Note: proposal creation is still only accessible via the legacy page.

Lido Staked ETH
It’s well known that rebasing tokens don’t play nicely with DeFi, this is why many of those tokens have a wrapped version to use in protocols (to obtain rewards from the rebasing tokens). Users shouldn’t have to think about tokens being wrapped or unwrapped and protocols should remove that user burden. This functionality was built-in at launch of the ETH | Ethereum market, however, it was not clear to users what was happening under the hood. Now with improved asset cards, using your Lido Staked ETH has become extremely clear, allowing users to supply either Lido Staked ETH or Wrapped Lido Staked ETH and never miss any rewards.

Dashboard Currency Toggle
While on the Dashboard view of the interface, you can now toggle between $USD and the native base asset denomination of the deployment by clicking or tapping the main balance in the top left. Throughout the interface, you’ll be able to view balances in the currency you prefer–especially useful for Ether maximalists.

Loading times on the v3 interface have been reduced substantially. In conjunction, it’s never been easier to switch between networks with a streamlined flow. This should be invisible to most users, but the interface is now the fastest it’s ever been.

If you have any questions, join the community in Discord!