Compound adds ARB and other assets as collateral, but Arbitrum version still has limited scale.
The well-known DeFi lending protocol Compound has announced that users can now use ARB, GMX, WETH, and WBTC as collateral on the Arbitrum version - Compound III to borrow USDC.
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The well-known DeFi lending protocol Compound announced that ARB, GMX, WETH, and WBTC can be used as collateral to borrow USDC on Compound III on Arbitrum.
In addition to the basic WETH and WBTC, the collateral accepted by Compound includes GMX tokens, which represent the highest total value locked (TVL) on Arbitrum, as well as the governance token ARB of the Arbitrum network.
Currently, the utilization of Compound on Arbitrum is relatively low, with only 14,820 actually collateralized:
As of the deadline, the Compound on Arbitrum contract still shows over two million dollars in idle funds:
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