[AlphaGrowth] Compound Growth Program Updates

Protocol Development
9

Growth Program Weekly Updates

Hey Folks,

There are a bunch of exciting updates that we would love to share with the Community
In the previous posts, we have mentioned pursuing a set number of strategic goals for Protocol growth, here is a visual representation of the current progress

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What’s currently going on

  • OP Deployment: The team working on the Code has completed their work except a few details like initial parameters. The code is currently scheduled to be audited by OpenZeppelin, after which we hope to make an on-chain proposal to the community.
  • USDT Market on Ethereum: Closest to deployment. The team working on USDT market has been approved for a grant from CGP and has also completed the code for the deployment. The code is currently with OpenZeppelin and being Audited, scheduled to be completed by next week. We will collaborate closely with Franklin DAO to get the USDT Market deployed.

What’s next

  • Arbitrum LTIP Grant: The Arbitrum DAO is awarding 45M ARB tokens to the defi projects in the ecosystem. The applications for the Grants began on Feb 19th and will be open for the next 2 weeks. We are currently gathering information on the scope and scale of the Grants that we can request. We will keep the community updated on the process.
  • Arbitrum USDT Market: USDT has more utilization on Arbitrum than USDC, adding USDT market on Arbitrum is crucial for growth of the protocol on the Arbitrum Network, especially since compound has come down in TVL ranking on the chain. An initial proposal has been put up on the forum by Franklin DAO. Launch USDT Market on Compound v3 Arbitrum

Additional Updates

  • Optimism’s Grants: Optimism Grants council had a window of 2-3 weeks for accepting grant applications. One of our key objectives with Optimism was to secure a growth Grant worth 250K OP, but since the protocol is not deployed on Optimism (Code completed, to be audited soon), the grant application did not seem fit. We made a Grant application with Optimism for a more specific category which involves LSTs and which may have higher chances of approval. You can view the Application here, the wallet address given is an OP Mainnet multisig for the Growth Program, similar to the one on ETH Mainnet.
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