AlphaGrowth to Lead Compound DAO's Strategic Expansion in DeFi
24 Julio 2024 - 9:45AM
Compound DAO, a leading decentralized finance (DeFi) protocol,
announced the formalization of a one-year partnership
with AlphaGrowth, the DeFi operations firm. AlphaGrowth has a
proven track record of accelerating multiple blockchain protocols
and ecosystems. This strategic collaboration follows a successful
five-month trial period that began in December and aims to drive
sustainable revenue generation and solidify Compound's position as
a DeFi leader.
AlphaGrowth, recognized for its expertise in decentralized
operations and strategy, is uniquely positioned to address the
challenges faced by blockchain protocols seeking to scale and
optimize their operations.Many protocols, despite their substantial
valuations, lack the operational infrastructure and strategic
guidance necessary to fully realize their potential. AlphaGrowth
bridges this gap by providing a comprehensive suite of services
tailored to the unique needs of decentralized organizations.
"We see ourselves as the strategic engine that propels DeFi
protocols forward," said Bryan Colligan, CEO of AlphaGrowth. "Just
as a well-designed car needs a skilled driver to reach its full
potential, blockchain protocols need expert operational guidance to
navigate the complex DeFi terrain and achieve sustainable
growth."
AlphaGrowth's approach involves a
multi-faceted strategy that includes new markets and collateral
assets on Compound V3, expanding the protocol's presence on new
blockchains, and securing ecosystem grants to distribute to
Compound users as APR incentives.Already, the team has achieved
notable successes, securing a 1.8M ARB token grant and 150K OP
token grant on behalf of the protocol. Distributing a portion of
these grants as incentives has attracted a remarkable $130 Million
in new TVL to Compound's markets.Further demonstrating their
commitment to innovation, the team has successfully launched
Compound on Optimism with USDT and USDC markets, and augmented
Arbitrum by adding wETH and USDT markets. Several new collateral
assets have also been added. With a rigorous development schedule
in place, AlphaGrowth is poised to achieve its ambitious goals to
drive $500 Million in TVL for the next year.Users are invited
to participate in several ongoing marketing campaigns and rewards
programs, including: (Ross Gates and I have to update
these
- Lend USDC on OKX: Live
July 2nd
- Lending wETH through
VaultCraft: LIVE July 9th
- Lending USDT through
Vaultcraft: LIVE July 10th
- Participating in Layer3's
Quest to Lend wETH on Arbitrum: Starting July 11th
- Lending ETH on
OKX: Starting July 12th
- Lend USDT on OKX: Starting
July 12nd
AlphaGrowth remains deeply committed
to collaborating with the Compound community, actively engaging in
discussions on the Compound forum to foster transparency
and gather valuable insights.
Disclaimer: The information provided in this press
release is not a solicitation for investment, nor is it intended as
investment advice, financial advice, or trading advice. It is
strongly recommended you practice due diligence, including
consultation with a professional financial advisor, before
investing in or trading cryptocurrency and securities.
Shardul Pilley
Communications Manager
AlphaGrowth
shardul at alphagrowth.io