Collateral
Loan denomination
Compound v3 (Ethereum)
Compound DAO · Ethereum · algorithmic (utilisation) · on-chain since 2022-08-13
What we can see here. Rates are live, quantity is collecting, and composition is collecting. Each section below states its own case. Sections are never dropped when they are empty — an absent section and an absent number are different things.
1Structure
What kind of credit this is. Attributes, not scores — one column per structural property, factual values only, each with the contract, document or filing establishing it. Nothing here is ranked or weighted.
Oracle dependency what price the loan depends on, if any | multiple Compound v3 Configurator 0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3 — each Comet is configured with one price feed per collateral asset (AssetConfig.priceFeed) plus a feed for its base token; governance updates them per market. Five Comets are in scope on this chain, each with its own set. |
Liquidation what happens when collateral falls | threshold Compound v3 Comet — absorb() is permitted once an account is underwater against the per-asset liquidateCollateralFactor. Distinctively, the protocol takes the collateral onto its own balance sheet and then offers it at a discount via buyCollateral(), rather than paying a liquidator to repay the debt in one step. |
Term whether the loan has an end date | open-ended Compound v3 Comet — withdraw()/supply() against the base asset carry no maturity. |
Rate certainty whether the rate can move after origination | variable Compound v3 Comet — getBorrowRate(utilisation) is evaluated per second against the current utilisation; nothing is fixed at origination. |
Rate mechanism how the rate is set | algorithmic (utilisation) Compound v3 Comet getBorrowRate(utilisation) — a kinked function of utilisation with separate slopes either side: algorithmic_utilisation per v1 §8.2. |
Custody who holds the collateral | protocol-custodial Compound v3 Comet — supply() transfers assets to the Comet contract, which holds both base and collateral balances directly. |
Collateral what secures the borrowing | BTC collateral across 5 Comets (USDC, WETH, USDT, USDS, WBTC base): WBTC, cbBTC, tBTC, plus LBTC and pumpBTC in the WBTC-base Comet credit_venues.markets->btc_collateral, resolved per Comet from the Configurator's AssetConfig, with each asset's borrow_collateral_factor recorded alongside. Comet is single-borrowable-asset per market, so unlike Aave the collateral backing a borrow is unambiguous — but the borrow is denominated in that Comet's base asset, not in BTC. |
Recourse whether liability stops at the collateral | non-recourse Compound v3 Comet — liability is bounded by the collateral absorbed. A shortfall after absorb() is carried by the protocol's reserves, not pursued against the borrower. |
2Rates
What it costs to borrow here, and what it pays to lend, both sides never conflated. Rates are normalised to a continuously compounded annual figure so venues quoting four different ways are comparable.
live
This venue’s rate is published in the cross-venue comparison rather than duplicated here, so the figures on both surfaces cannot drift apart. See it beside every other venue.
3Quantity
Collateral locked and debt outstanding, and the origination, repayment and net flow behind them.
collecting
Resolved on-chain and awaiting ingestion. Coverage says what the data will support once it runs, not what is published today.
4Composition
Who owes it and on what terms: LTV distribution, how long positions actually reside, position-size concentration, and liquidation incidence by origination-LTV cohort.
collecting
Resolved on-chain and awaiting ingestion. Coverage says what the data will support once it runs, not what is published today.
5Markets
The individual markets this venue runs in scope. A venue is usually a family — one row per (collateral representation, debt asset, chain).
5 markets are resolved for this venue; the per-market list is not published on this page yet.
6The interest-rate model, plotted
Specific to how this venue sets its rate — algorithmic (utilisation). Every venue of the same mechanism class gets the same panel.
Rate as a function of utilisation, with the kink(s) and the current operating point marked, plus utilisation history. The venue’s reaction function — how violently the rate moves if utilisation shifts — read directly from chain.
Contract addresses, reserve lists and market identifiers are resolved from this venue’s own on-chain registry rather than taken from its documentation, and re-checked whenever the registry changes. Where documentation and chain disagreed, the chain won and the disagreement is recorded. Last resolved 2026-07-24. The WBTC-base Comet (0xe85Dc543813B8c2CFEaAc371517b925a166a9293) accepts LBTC and pumpBTC as collateral against a WBTC loan — BTC borrowed against BTC. A genuine BTC-denominated credit market; do not drop it for having a non-stablecoin base. Collateral factors vary far more than expected across the venue (0.375 on Polygon against 0.800 here), so any leverage or risk comparison must read them per market, never per venue.