Hello Polygon community,
Here from the Morpho team to provide a status update on the Compound.blue launch on Polygon, which leverages Morpho’s lending infrastructure.
Compound Blue officially launched on Polygon on March 13th, and has already surpassed $70 million in deposits in the first few weeks, showing strong initial adoption.
Incentives Are Live!
In order to initially bootstrap these markets, Polygon and Compound have agreed to contribute $3M in combined incentives that are now active and claimable via Merkl.
Assets Supported at Launch
Compound Blue currently supports the following assets.
- USDC
- USDT
- ETH
- WBTC
- wstETH
- MATICx
- POL
Position Migrator Tool - link here!
The Paperclip team has developed a dedicated position migrator to transfer existing lending positions to Compound Blue.
The migrator currently supports the migration of both supply and borrow positions on AAVE.
Upcoming Features for Compound Blue
As a part of Morpho’s continued investment in the growth of Compound Blue, the Paperclip team has been rewarded a grant from the Morpho DAO to maintain and update the underlying infrastructure of the frontend.
As such, some of the upcoming features include:
- Added functionality for Liquidity Migrator Tool: Rather than just migrating one position, we users will be able to aggregate their entire position on AAVE and migrate their entire position into a single Compound Blue position.
- Automated Leveraged Positions: Users will be able to specify their collateral amount and leverage factor to create leveraged borrow positions to optimize for yield generation.
Built on Morpho’s Permissionless Infrastructure
Building Compound Blue on Morpho’s permissionless infrastructure enables Compound to access these key advantages:
- Faster asset listings and parameter optimizations
- A more efficient, immutable tech stack
- Lower governance overhead
- Morpho’s network effects
- Better focus of Compound DAO resources on growth
Note
Compound Blue is an open-source front end built by Paperclip Labs.
Vaults on Compound Blue are owned by the Compound DAO, curated by Gauntlet.