Compound integrates L2-network Base from Coinbase

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DeFi lending platform Compound has integrated a second layer solution, Base, backed by cryptocurrency exchange Coinbase.

Data: X.

Users will now be able to choose ETH and cbETH as collateral for borrowing the USDC stablecoin on the new Bridged USD Coin (USDbC) network.

According to Compound Labs, the coin’s current total collateral is $3.75M and the total loan amount reaches $2.25M. $2.59M of the total collateral is in ETH, and another $1.17M is in Coinbase Wrapped Staked ETH (CBETH) .

Lenders can earn up to 1.24% per annum, and users can receive loans at 2.83%.

About plans to deploy the second version of the SushiSwap V2 protocol in the Base network declared decentralized exchange CEO Jared Gray.

According to The Block, the number of daily transactions on the Base network is approaching that of Optimism and Arbitrum, which also use Optimistic Rollups.

Recall that the full-scale launch of the Base mainnet took place on August 9th. On this day, the number of daily active users of the network exceeded 100,000 people.

Last week, the largest decentralized exchange, Uniswap, also integrated its V3 version into the Base network, generating over 10,000 transactions on launch day.

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