DeFi Researcher Inquires About Proposed Composite Chain

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  • DeFi researcher Ignaz requested concerning the blockchain proposed by Compound Finance.
  • The analyst recalled the announcement of substrate-built compound chains in 2021.
  • In line with Ignas, the probabilities of Uniswap launching a sequence usually are not zero.

Famend DeFi researcher Ignaz requested about Compound Finance’s proposed blockchain. Ignas recalled that Compound Finance introduced his Substrate-built Compound chain in 2021.

Ignas’ latest analysis consists of screenshots of a now-deleted Medium submit outlining Compound Finance’s plans and potential for a deliberate blockchain mission. The mission seems to have been deserted because the Medium submit has since been deleted. After Ignas not too long ago tweeted about the potential of Uniswap launching a sequence, he recalled the tweet.

In line with Ignas, it isn’t zero likelihood that Uniswap will launch its chain, presumably as a Layer 2 blockchain. Doing so, he believes, will enhance the utility and appreciation of his UNI, his token native to Uniswap, for decentralization. Ignas believes it’s doable contemplating MakerDAO has already launched a local blockchain.

Ignas referred to a report indicating that MakerDAO intends to create its personal blockchain known as “NewChain.” In line with the report, NewChain shall be bridged and never essentially substitute the Ethereum blockchain that powers the MakerDAO platform. This implies NewStable, NewGovToken, Dai and MKR will proceed to perform on the Ethereum blockchain. Nevertheless, they’re protected by governance his backend that operates via a safe bridge.

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One of many respondents to Ignas’ tweet. Observing digital foreign money Goryeo Liquidity fragmentation would be the largest downside for Compound and Uniswap in launching chains. In line with Koma, individuals will be unable to do something with borrowed cash if Compound expands into chains. He believes the scenario would be the identical with Uniswap.

Koryo identifies the complicated points concerned in constructing a wealthy ecosystem on an app chain. Due to this fact, he believes that these tasks that try such issues want a bridge. Nevertheless, he believes that advances in cross-chain and omnichannel expertise will permit the mission to succeed in its targets. He believes that might occur if cross-chain swaps change into seamless with out additional overhead.

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