DeFi.org Supports Compound Finance
DeFi.org supports Compound Finance one of the leading lending protocols on Ethereum, with over $3.7B in TVL. Compound users can rest easy knowing that their positions are monitored 24/7 and will receive real-time notifications to help them manage their risk.
The Open DeFi Notification Protocol App is available on both Apple AppStore and Google Play. The Open DeFi Notification Protocol by defi.org is a community-led initiative to provide users with decentralized and free mobile notifications for on-chain events.
The Best Way to Monitor Your Loaned Assets
Compound Finance is one of the most extensive lending & borrowing protocols on the Ethereum network, supporting over 15 major currencies. The decentralized protocol allows users to lend, borrow and earn interest on their crypto assets. For various activities and strategies across the DeFi space.
In order to borrow assets on Compound, borrowers must post collateral. Taking collateralized loans carries certain risks, primarily the risk of liquidation. Borrowers need to ensure they do not cross their borrow limit, which can trigger the liquidation of their collateral.
Using the Open DeFi Notification Protocol, Compound users can set up a “Position Health” notification which will issue an alert when your position gets close to liquidation. In this way, users have 24/7 monitoring of their position status and can take immediate action in order to mitigate the risk of liquidation.
A Notification Standard for Leading DeFi Projects
The Open DeFi Notification Protocol is an open initiative to provide users with decentralized and free mobile notifications for on-chain events.
Compound joins other top DeFi lending protocols, such as Aave, Venus, and Alpaca Finance, supported by the Open DeFi Notification app, with liquidation risk notifications being one of the most popular use cases by the app users.
The addition of Compound makes for an impressive lineup of leading DeFi projects which have already been integrated into the Open DeFi Notification app for the benefit of their users, including among others Aave, Uniswap, SushiSwap, QuickSwap, PancakeSwap, and more.
All in all, the app supports 20 protocols across 5 networks such as Ethereum, BSC, Polygon, Fantom, and Avalanche.
The Open DeFi Notification Protocol is an open-source project allowing anyone to contribute and integrate notifications. With a quick and simple integration on Github, developers can provide free mobile notifications for any DeFi project for important events like accumulated pending rewards, price swings, near liquidations, stop loss, contract upgrades, new governance votes, and more.
ABOUT Open DeFi Notification Protocol
The Open DeFi Notification Protocol is an open-source project allowing anyone to contribute and integrate notifications. The Protocol has been implemented fully by the Orbs network and will be executed by the Orbs Guardians. Making this the 1st fully decentralized implementation of a notification protocol.
ABOUT Compound Finance
Compound Labs is an open-source software development company building tools, products, and services for the decentralized finance (DeFi) ecosystem.
ABOUT Orbs Network
Orbs is an open, decentralized, and public blockchain infrastructure. Executed by a secure network of permissionless validators using Proof-of-Stake (PoS) consensus.
