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Earn up to 12% APY on your Crypto, Stablecoins & Fiat assets. Compounding interest, paid out daily. Borrow from 5.9% APR using your crypto as collateral.

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On December 17, Compound Labs released the whitepaper for Compound Chain, now known as Gateway. Gateway is a Substrate based blockchain that is currently running on the Gateway testnet as of March 1. Functionally, Gateway will act similarly to the current Compound protocol on Ethereum, except:

Gateway offers the ability to borrow and lend any asset from any blockchain Interest is earned and paid in dollars (stablecoins), using CASH - Gateway’s native unit of account Gateway’s risk engine is more robust; risk is based on the volatility of assets you use as collateral, as well as the assets you borrow — leading to capital efficiency improvements for less volatile assets.

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Cross-Chain Lending and Borrowing Gateway is a stand-alone blockchain whose entire architecture is built around cross-chain interoperability, and in many ways provides similar functionality to THORChain. Gateway users can upload supported assets from a variety of independent blockchains through its system of connected “peer” chains. There is a type of contract, known as a “starport”, associated with each peer chain that enables the locking and unlocking of assets on Gateway.

Once uploaded to Gateway, users can lend and borrow assets between different blockchains. They can borrow Ethereum assets into their Ethereum wallets using Solana assets, or borrow Celo assets into their Celo wallets using Polkadot assets, etc.

Ditch the Wrapping A major goal of the Gateway blockchain is to get blockchains to interact directly with each other without token wrapping. Although it is possible to wrap Bitcoin, less than 1% of Bitcoin has currently been ported to Ethereum due to the issue of trustlessly bridging Bitcoin to the Ethereum blockchain. Considering Bitcoin has a market cap of over $1 trillion, any way to increase Bitcoin’s access to DeFi would be significant.

Read the full article, to learn about CASH, consensus and governance, and more.