DeFi platform Compound launches price oracle

As part of its efforts to migrate to the Open Price Feed, money market protocol Compound has released its own price oracle, which is a third-party, decentralized feed that provides the data necessary to carry out smart contracts.

Many Open Finance platforms use price oracles to offer their users different services like margin trading and lending. The protocol has been running testnet deployments for the past ten days.

Compound is running an aggregator wherein users can fetch data on reported prices. These prices are available directly from each reporter via their public APIs. Compound has also created a continually updated notebook that allows anyone to post the current prices to the chain at any given moment.

Compound has also created a price page that allows users to check the current state of the system. The information is also available on-chain.

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