[AlphaGrowth] Compound Growth Program Updates

Compound Growth Program Updates

The Compound Growth Program was approved by the Compound Community. In the coming months, the AlphaGrowth team will be managing and coordinating on multiple outreach, BD and marketing campaigns.

We will be keeping the Community updated about the progress through this thread.

If you have any ideas for Compound or would like to suggest some potential partners to the AlphaGrowth team, please join the Compound Growth Program Telegram group and share your ideas with us.

Important Links
AlphaGrowth | AlphaGrowth Twitter | AlphaGrowth LinkedIn | Proposal Link

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Week 1: December 16th, 2023

The Compound Growth Program completes its first week of operations. This week was heavily focused on setting up the CRM for Compound, identifying primary leads, mapping integrations and target categories.

A few key categories identified are

  • V2 Integrations
  • Custodians
  • Vaults
  • Liquidity Managers
  • Exchanges
  • Wallets
  • Market Makers

In this direction, AlphaGrowth has created an initial list of 184 projects for convesations. We have already started outreach campaigns to 6 projects, and in the next few weeks we will gradually ramp up our BD Efforts.

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Growth Program: Week 2 Updates

The second week continues with outreach and prospect identification. At present we have reached/ are having conversations with 24 projects from various categories.

To mention, a couple of conversations that are moving ahead and we are meeting with the teams to discuss integration & marketing

Additionally, we are also in early conversations with the Compound integrated chains for identifying incentives and rewards that we can secure for the Compound pools/users.

This update covers the week starting from Monday December 18, 2023

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Compound Growth Program: Week 3 Updates

First full week of progress as prospect US and European teams get back to offices.

As we held meetings with multiple stakeholders in Compound Ecosystem, as well as many prospects there were some recurring topics, requests, and learnings.

We also discovered some of the biggest opportunities that will move the needle for compound. We aim to share these with the community and build up a robust process for feedback.

Priority Opportunities

Based on our conversations and market analysis, we’ve identified several high-potential opportunities for Compound:

  1. wstETH Markets on V3: A promising prospect with over 2 billion in TVL on competing platforms, yet underutilized in terms of rewards.
  2. wBTC Market on V3: A critical market with an immediate 1.5 billion TVL opportunity.
  3. USDT Market on V3: High demand market with a 1 billion near-term opportunity.
  4. Optimism Deployment: Previously received strong positive feedback from the community.
  5. Key DApps Integration: Potential collaborations with platforms like Sommelier and Morpho.

Recent conversations we have had

  • Ankr
  • OKX
  • Crypto.com
  • Gyro Finance
  • Optimism
  • GMX
  • Lido (wstETH)

From our conversations, we have identified a few areas endavors that will greatly impact Compound. Listed in the Order of Priority, any of these integrations/partnerships will greatly impact the metrics

Learnings

For our learnings, we found out that multiple old V2 integrations are de-prioritizing v3 integration due to various external factors.

  • Shift in Priorities : A previously v2/v1 integrated wallet (from 2019), has deprioritized v3 integration. The reason given was their current focus on just Starknet integration, we are in touch to see if other L2s are still within their scope and focus
  • Revenue-Driven Decisions : A partner with significant user base that had V2 integration in their earn product, won’t prioritize v3 integration without a direct opportunity of revenue for their project. We are working on securing some incentives that may make a v3 integration attractive again for them.
  • Product Shifts : Another early partner has pivoted to new product lines, making V2 integrations obsolete and V3 integrations currently nonviable. They have shifted priority on liquid staking assets, but the metrics of those assets are not high enough to get listed as collateral on Comp markets (mentioned by the teams themselves)
  • A previous institutional liquidity partner of compound (from 2019) has taken a permanent shift towards Options away from Lending.
  • Institutional Partnerships : While institutional liquidity partnerships are high-impact, they’re also low-probability at this stage. We’re maintaining dialogue but focusing resources where there’s more immediate interest.

Connect with the Growth Program

If the community members have any suggestions and feedback, please feel free to drop by on the Growth Program’s telegram group or reach out to me directly at shardul@alphagrowth.io

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Great update.

I agree that Tether market, OP deployment, and dapp integrations are great to have their development facilitated.

Interested to hear more details about a wstETH and WBTC v3 market. What are some of the details of demand for these markets? Any early 3rd party integrators showing interest? What would be the collaterals? Which blockchains would the community deploy these instances?

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Thanks Adam for the suggestions, regarding wstETH and WBTC, the conversations are in very early stages of discovery, wstETH while being a big market is dominated by recursive staking. We will keep the community updated on any further developments in this conversation.

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Growth Program Week 5 updates

BD

With week 5, we continue our conversations with multiple stakeholders within the Compound Ecosystem. As we continued conversations, a few topics were recurring which have also consolidated themselves as major requirements for the Growth of the Protocol. We have listed these topics below

  • Optimism Integration: Deploying Compound V3 on the Optimism Mainnet, continuing the previously started conversation. We connected with OP labs to gauge the synergies, OP labs also desired an integration with Compound, but they declined on allocating engineering resources for this integration.
  • Rewards Contract: We have posted this topic on a dedicated thread.
  • USDT Market: USDT remains one of the Key markets on V2 and on competitor platforms.
  • Arbitrum LTIP: Arbitrum DAO will soon be launching a 45M ARB program to incentivize ecosystem projects. We will conduct discovery calls to identify the suitability and candidature of Compound for this program.
  • RWAs: In our conversations with multiple community members and delegates, RWAs on Compound was a recurring topic. While it is still early, we aim to facilitate conversations in this direction.

Additionally, we have connected with a few of the Dapps that can benefit Compound with an integration, we have referred these Dapps to the Compound Grants Program.

Marketing

Wormhole: We connected with the Wormhole team on their upcoming campaign for incentivizing Deposits on ARB Compound through Wormhole. We are selecting relevant marketing Channels to start a marketing campaign on this event.

Linea: After Connecting with the Linea team, we were able to secure soft commitments in terms of incentives for Compound from the Linea team. When Compound Launches on Linea, we will be engaging in multiple marketing campaigns to attract the ecosystem users.

If you have any suggestions or ideas for the Growth Program, please feel free to drop by in our Telegram Group or reach out directly to me at shardul@alphagrowth.io

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Hey Folks, last week we shared a separate forum post highlighting some strategic priorities for Compound. Community members can view the forum post here

In alignment with our stated priorities, here are the key updates

  • USDT Deployment: We have selected a team for development and they have applied for the CGP grant to kickstart the development process to list the USDT Market on ETH. Please check out the proposal on CGP (Questbook) by @pennblockchain
  • OP Deployment in progress: We are working with a team of developers, a forum post is also going live soon.
  • Native USDC on base: Currently in early stages,
  • Rewards Contract: Initiated a conversation on forum Request for Comment : Updating Rewards Contract
  • Lido wstETH collateral integration in advanced stages, the code is currently being audited after which the team aims to post an on-chain vote.
  • some more collateral assets in early stages of conversations.

As we keep pursuing initiatives that will benefit the platform and community in long term, we invite feedback and suggestions for any other opportunity that should also be pursued.

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