- DeFi researcher Ignas realized in regards to the blockchain provided by Compound Finance.
- The analyst recalled the announcement of a series consisting of substrates in 2021.
- In accordance with Ignas, there’s a non-zero chance that Uniswap will launch his channel.
Ignas, a famend DeFi researcher, realized in regards to the blockchain provided by Compound Finance. Ignas recalled Compound Finance’s announcement of their Substrate-built Compound chain in 2021.
Ignas’ current investigation features a screenshot of a now-deleted Medium put up the place Compound Finance outlined the plans and prospects for the deliberate blockchain undertaking. The undertaking seems to have been deserted, because the Medium put up has since been deleted. Ignas recalled the tweet after lately tweeting about the potential of Uniswap launching his channel.
In accordance with Ignas, there’s a non-zero chance that Uniswap will launch its chain, seemingly as a layer 2 blockchain. He believes this is able to give Uniswap’s native token, UNI, extra utility and worth for the sake of decentralization. Ignas thinks it is doable, provided that MakerDAO is already launching a local blockchain.
Ignas referenced a report that famous MakerDAO’s intention to create a proprietary blockchain which he calls “NewChain”. In accordance with the report, NewChain will probably be bridged and won’t essentially substitute the Ethereum blockchain that underpins the MakerDAO platform, which means NewStable, NewGovToken, Dai, and MKR will proceed to run on the Ethereum blockchain. Nevertheless, they are going to be protected by a governance backend working via a safe bridge.
One of many respondents to Ignas’ tweet with the ID Crypto Koryo Noticed that the largest downside with Compound or Uniswap launching their chains will probably be liquidity fragmentation. In accordance with Koryo, if Compound launches his channel, individuals will not have the ability to do something with the cash they borrow. He additionally thinks the scenario would be the similar for Uniswap.
Koryo identifies the issues of constructing a wealthy ecosystem on an software chain. Subsequently, he thinks any of those initiatives that try to take action ought to bridge the hole. Nevertheless, he believes that with advances in crosschain and omnichannel applied sciences, the initiatives may obtain their targets. He thinks this might occur if exchanges between chains turned clear and with out further prices.
