Compound Will Support New Assets With Parity Substrate

Compound Finance's DeFi protocol developers have announced the development of a blockchain called Gateway that will use the Parity Substrate platform to add support for new assets.

Until now, Compound has only offered support for ETH and Ethereum-based ERC-20 tokens. However, the evolution of the Gateway blockchain means that the protocol will now be able to fulfill its task of transferring assets across several different "peer-to-peer" chains such as Polkadot, Solana and Celo. The Gateway blockchain will also host a dollar-pegged stablecoin called CASH that will be used to pay validator blocking fees.

The Gateway blockchain is currently running as a testnet. Mainnet launch date and support for real value transfers have not been announced.

Image: Asia Crypto Today