The Compound Growth program is pleased to announce that Compound has been awarded 300,000 OP from the Optimism Grants council for expanding the asset support for LRTs and LSTs on Optimism through Compound.
Background
Ever since the inception of the Growth Program, Optimism has been one of the key areas of focus as the Growth program developed and deployed Compound V3 on Optimism. With this, we have previously also secured some incentives on Optimism including a 150K OP Grant in Q2 2024.
This time, Optimism is aiming to focus on the Growth of LRTs and Yield bearing assets. Compound being one of the key avenues for use of LRT and LST assets has secured some Grants
LRT Grant : 120,000 OP
Aimed at boosting Liquidity and volume of LRT assets. The top assets to be considered are
- weETH from Etherfi
- rsETH from Kelp
- ezETH from Renzo
Since LRTs naturally have a demand for ETH, we will focus more on getting ETH supplies up for LRTs to borrow ETH at low interest rates
Yield Bearing Assets Grant: 180,000 OP
To boost the presence of Yield bearing assets. This grant is only aimed at assets whitelisetd by the Optimism DAO. The relevant assets for Compound are ETH LSTs like wstETH and rETH and Yield bearing stablecoin USDM from Mountain
Relevant Links
LRT Grant
Application: Boosting LRT Adoption with Compound Finance
RFP: [Mission Request] Optimism as the Base for LRTs
Yield Bearing Asset Grant:
Application: Yield Bearing Asset Utility with Compound
RFP: [Mission Request] Optimism Dominance in Yield Bearing Assets
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