Algorithmic lending platform with interest-bearing crypto deposits.
Deposit tokens resolved to supplied assets
Bitwave recognizes Compound deposit tokens and positions across protocol versions in a synced Ethereum wallet and resolves them to the underlying supplied asset, with outstanding borrows carried as negative balances.
Borrowing and repayment kept distinct
Supplies, withdrawals, borrows, and repayments on Compound can each be categorized as the matching position type in Bitwave, so collateral and debt are tracked separately from ordinary transfers.
COMP rewards and lending return measured
Accrued COMP is read from Compound's reward contract for balance purposes, reward claims can be categorized as income, and the DeFi return view can measure return on supplied assets.
How it works
Bitwave connects to the Ethereum wallets that use Compound. After a wallet is added, Bitwave syncs its transactions and recognizes the deposit tokens and positions the protocol issues, resolving each to the asset supplied and netting outstanding borrows.
Your team then applies the position categorization to supplies, borrows, repayments, and COMP claims, and reviews the resulting positions and income in Bitwave's reports.
The workflow:
- Add the Ethereum wallet that supplies or borrows on Compound.
- Bitwave syncs the wallet's history and identifies Compound positions and accrued COMP.
- Categorize supply, borrow, repayment, and reward activity as positions, individually or through rules.
- Review Compound vault and debt balances in the balance report and carry results into gain/loss and journal entries.
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Compound positions carry two things a finance team has to track at once: the asset supplied as collateral and the asset borrowed against it. Recording these as simple transfers or trades misstates both the balance sheet and gains. Bitwave recognizes Compound's position tokens and separates supply from debt.
The outcome is a balance report that shows supplied assets as DeFi positions and borrows as DeFi debt, COMP rewards categorized as income when claimed, and a return measurement for supplied assets, so month-end reporting reflects the economics of the lending position rather than a series of unexplained token movements.
Complete. Transparent. Secure.
ERPs
Sync data in real-time and eliminate manual errors. Bitwave seamlessly integrates with your existing back-office software for easier reporting.
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Blockchains
Bitwave supports tokens on the Bitcoin, Ethereum (All ERC-20 tokens + Layer 2), Solana, NEAR, and more. We are constantly adding support for new Blockchains.
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Custodial Wallets
Bitwave currently supports Fireblocks, NYDIG, BitGo, and Anchorage custodial wallets. We are constantly adding support for new Custodial Wallets.
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DeFi Protocols
This is just a sample of the DeFi protocols we support. Click below for the full offering of DeFi integrations currently in place, with more being added each day.
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Exchanges
This is just a sample of the key Exchanges we support. Click below for the larger offering of Exchanges supported, with more being constantly added.
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Multi-Signature Wallets
Bitwave supports a variety of multi-signature wallets, such as Gnosis Safe, Zebec, and Electrum. We are constantly adding support for new Multi-Signature Wallets.
