About this explorer

The Rails Compound V2 explorer shows the full history of every wallet that has supplied to or borrowed from Compound V2 on Ethereum, whether still open or closed, with every liquidation it went through. It also shows the markets themselves and how much of each is borrowed.

How it works

• Compound V2 is a pooled lending protocol. A market is a pool of one token that people supply and borrow. A wallet (an account address) supplies a token to a market and receives cTokens. One row on this page is one wallet.
• A wallet supplies a token and enters the market, so the supply counts as collateral (the assets that back a loan). It can then borrow up to its account liquidity, its borrowing room: each entered supply times its collateral factor, minus its debt. If the room turns negative, a liquidator steps in.
• Every market sits under one Comptroller, which sets these rules. A liquidation repays part of the debt, capped by the close factor. The liquidator then receives a liquidation incentive.
• Suppliers currently earn no interest. Governance, the process by which holders of Compound's COMP token vote on its rules, has set every market's reserve factor to 100%, as the markets page reads from the chain. All the interest borrowers pay goes to the reserves, which the market holds for the protocol, so the exchange rate no longer rises. A few markets use a fixed price, and the explorer flags them wherever they appear.

Glossary

cToken

: A cToken is the receipt a supplier gets for a token placed in a market. Its exchange rate rises when the market's suppliers earn interest, and the receipt then redeems for more of the token. Docs: cTokens

Exchange rate

: The exchange rate is the amount of the market's token that one cToken can be redeemed for. It rises when the market's suppliers earn interest. Docs: Exchange rate

Comptroller

: The Comptroller is the contract that sets the risk rules for every market. It decides how much a wallet may borrow and when a wallet can be liquidated. Docs: Comptroller

Entering a market

: A wallet enters a market to let its supply there count as collateral. A market that has not been entered adds nothing to what the wallet may borrow. Docs: Enter markets

Collateral factor

: The collateral factor is the share of a supplied asset's value that counts towards borrowing. Governance sets it for each market, from 0% to 90%. At 0% the asset cannot back a loan. Docs: Collateral factor

Account liquidity

: Account liquidity is a wallet's borrowing room: its entered supply times each collateral factor, minus what it owes. A negative result is a shortfall, and the wallet can be liquidated. Docs: Account liquidity

Liquidation

: A liquidation happens to a wallet whose debt passes its borrowing limit. A liquidator repays part of the debt and takes collateral at a discount. Docs: Liquidate borrow

Liquidator

: A liquidator is anyone who repays part of a wallet's debt in return for the liquidation incentive. Docs: Liquidate borrow

Close factor

: The close factor is the share of one debt that a single liquidation may repay. That is why a liquidated wallet often keeps part of its debt. Docs: Close factor

Liquidation incentive

: The liquidation incentive is the extra collateral a liquidator receives for repaying a wallet's debt. Part of that extra collateral goes to the reserves of the seized collateral's market. Docs: Liquidation incentive

Reserve factor

: The reserve factor is the share of the interest borrowers pay that goes to the market's reserves. Suppliers receive the rest, so at 100% suppliers receive nothing. Docs: Reserve factor

Fixed price

: A fixed price is a number governance stores in the price oracle for a token that has no live price feed. Governance can change it. Docs: Price Feed

You can search by wallet address. Status keeps open, closed or liquidated wallets. Debt (USD) and Collateral (USD) keep wallets within a size range. Supplying and Borrowing keep wallets holding a chosen token. Liquidated before keeps wallets that were liquidated at least once. Transactions keeps wallets within a range of transaction counts. The listing sorts by Recent activity, Debt or Collateral.

Tap the (i) beside any figure to see where it comes from. Inside, the ? explains that kind of event in general.