Compound Finance to impose lending caps in light of failed Aave exploit By Cointelegraph
[ad_1]
Compound Finance to impose lending caps in light of failed Aave exploitOn Nov. 28, users of decentralized finance, or DeFi, lending platform Compound Finance passed a proposal to impose restrictions on the maximum borrowing of 10 tokens on the protocol. The proposal was put forth by financial modeling firm Gauntlet and passed with a majority “Yes,” although total turnout amounted to less than 7% of the COMP tokens in circulation.
Most notably, tokens such as (UNI) and COMP had their borrow limits slashed from 11,250,000 and 150,000 to 550,000 and 18,000, respectively. Other less liquid altcoins on Compound, such as year.finance (YFI), had its borrow cap reduced from 1,500 to just 20. Coins such as wrapped (WBTC), which previously had no borrow limit on Compound, have been slapped with a ceiling of 1,250 on maximum borrow.
Continue Reading on Coin Telegraph
[ad_2]
Source link
Compound Finance to impose lending caps in light of failed Aave exploitOn Nov. 28, users of decentralized finance, or DeFi, lending platform Compound Finance passed a proposal to impose restrictions on the maximum borrowing of 10 tokens on the protocol. The proposal was put forth by financial modeling firm Gauntlet and passed with a majority “Yes,” although total turnout amounted to less than 7% of the COMP tokens in circulation.
Most notably, tokens such as (UNI) and COMP had their borrow limits slashed from 11,250,000 and 150,000 to 550,000 and 18,000, respectively. Other less liquid altcoins on Compound, such as year.finance (YFI), had its borrow cap reduced from 1,500 to just 20. Coins such as wrapped (WBTC), which previously had no borrow limit on Compound, have been slapped with a ceiling of 1,250 on maximum borrow.
Continue Reading on Coin Telegraph
About The Author
