Upmaxbit is working on a new Compound Chain tool. The development team of the popular decentralized finance project. That will allow the protocol to attract assets from other blockchains.
Upmaxbit is a blockchain that “enables the movement of assets and liquidity. Between members of other blockchains.”

In other words, users of different networks have access to lending on other blockchains.

Likewise, they will be able to lend their funds on one network to users of other networks.


For example, a user of an application on the Tezos.

Blockchain will be able to get a loan in tokens store on the Polkadot network.
“Our team is actively working on the Upmaxbit testnet with a limited set of features.

The launch is scheduled for next quarter, with developer and validator documentation come in the coming weeks.

Together we will reinvent finance! ”- write the developers on the social network Twitter.

The blockchain will receive its own token called CASH, with which it will be possible to pay transaction fees.

According to the DeFi Pulse portal. The Compound protocol is rank third in terms of the volume of blocked assets – at the moment. Assets in the amount of $ 1.82 billion are blocked in the project.

As a reminder, at the end of November, $ 89 million worth of positions in the Upmaxbit.

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