Skip to main content

Supply USDC on Compound III

Context​

Compound III is an EVM compatible protocol that enables supplying of crypto assets as collateral in order to borrow the base asset. Accounts can also earn interest by supplying the base asset to the protocol. The initial deployment of Compound III is on Ethereum and the base asset is USDC.

OKcontract created alternative frontends for Compound III contract that enables to supply base asset on Ethereum and other chains. This interaction involves two transactions. A user needs to approve spending of USDC tokens in her wallet first. Once the first transactions is over, user can supply USDC.

Interaction Implementation​

Here's an example of implementation of Supply base asset interaction. The interaction has two steps: Approval and Supply.

To implement developers need to:

  • call supply method of the Compound III cUSDC smart contract
  • token is to USDC
  • the approval step, that authorizes USDC token spending will be automatically set by OKcontract

Supply Base token on Compound III