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DeFi saver, a team best known for their automated loan protocol liquidation protection services they’ve been working on since 2019, announced the release of a full-fledged Compound v3 integration. DeFi Saver has been supporting the Compound protocol since the early DeFi days with a dedicated dashboard, a suite of advanced features, and their unique signature automated leverage management and liquidation protection options.
emphasis on simplicity
Compound v3 launched a month ago with a strong emphasis on simplicity. The latest upgrade of the famous protocol’s mechanics focused on security, capital efficiency and user experience. The main difference in the functionality of the protocols lies in the decision to move from the pooled risk model developed by Compound itself, where users could borrow any asset, to a separate base asset model, with each provision of Compound III a single contains borrowable good.
The first release of the latest version deployed to the Ethereum mainnet features USDC as the underlying asset and the only asset that users can lend against their collateral. Future deployments will include other foundational resources such as DAI and ETH, as well as support plans for L2 networks. Among other changes introduced as distinct from Compound v2, Compound Governance has approved the reallocation of COMP token incentives from v2 to v3 to incentivize initial V3 liquidity. The decoupling from the pooled risk model implies that the collateral posted by one user cannot be lent or withdrawn by other users, eliminating any interest income on collateral posted. Interest can be earned for providing and lending property. The same applies to the COMP incentive system.
With the latest version being live for less than a month, the DeFi Saver team worked tirelessly to bring users of the famous borrow and loan protocol the most comprehensive Compound v3 experience, as was the case with the previous version. First, users can count on the same quality of experience right from the start. A dedicated log interaction dashboard contains all essential information about created v3 positions. Besides the basic protocol actions, there are the signature DeFi Saver 1 transaction de/leveraging actions like Boost & Repay. There is also an option to mix all these actions within the dashboard to make managing DeFi positions easier. Current market information is also available for the underlying and collateral assets.
Those accustomed to the DeFi Saver experience and anyone looking to grow their wealth with leverage rejoice as DeFi Saver’s unique automated leverage management and liquidation protection features have been available since day one. In the current volatile market conditions, it is imperative to protect against liquidation and manage risk. It is available for all currently supported securities: ETH, WBTC, LINK, UNI and COMP.
Users with already active positions in previously integrated protocols such as Maker and Aave as well as the previous version of the protocol can easily migrate their entire position in a single transaction with the powerful support of the Loan Shifter feature also included in the version.
Finally, the latest DeFi Saver integration also includes support for the Recipe Creator transaction builder interface, which allows users to perform complex single transactions consisting of multiple protocol actions. A simple, low-risk recipe for making the most of Compound v3’s interest and incentives can involve borrowing USDC underlying assets against any of the supported collateral, followed by a deposit into one of the built-in yield farming protocols.
To complete the experience for all Compound v3 users, DeFi Saver has also introduced a long-awaited notification feature. Users can choose between the messaging application Telegram, Email and Discord to receive an instant notification when their position’s ratio rises above or below a certain threshold. Coveted by users of previously integrated protocols, and long overdue in the team’s own words, the new feature will be implemented for them in the next release.
DeFi saver is an all-in-one dashboard to create, manage and track your DeFi positions with automatic liquidation protection and leverage management options. So much for the application saved thousands of users from liquidation and helped users manage over 115,000 Transactions and trading volume in excess of $7 billion.
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