The DeFi lending agreement Compound tweeted that the proposal to launch Compound III and first deploy USDC on Ethereum has now been approved, and Compound III will be launched in 2 days. At the end of June, Compound Labs released the code library of Compound III, a multi-chain lending protocol, to the community. Compound III was designed with the borrower in mind to be capital efficient, gas efficient, secure and easy to manage. Major changes include: Compound III deployments have a single borrowable (interest-bearing) underlying asset, collateral size limits are set for each collateral asset, there are separate collateral factors for borrowing and liquidation, the risk management/liquidation engine has been completely redesigned, direct Use Chainlink for price feeds, etc.