Compound users can only borrow USDC stablecoin by depositing approved collaterals into the v3 pool. Collateral deposits will not earn interest but can borrow more with less risk and lower gas fee. The third iteration of Compound called “Comet” will support single interest-bearing assets as the lending protocol undergoes a major upgrade. Compound has implemented a single-asset borrowing model, an upgrade from the pool-risk model. The new model allows users to borrow a single interest-earning asset starting with USDC. Users are allowed to borrow USDC using ETH, wBTC, LINK, and UNI.
Compound v3 Comet launched with support for single borrowing model
