Welcome to the Compound Growth Program’s official thread for sharing our latest grant achievements! We are excited to keep our community informed about the support we receive, which helps us continue to drive innovation and growth. Check back regularly for updates on our grant wins!
Our periodic updates on the usage of the funds of these grant programs will be shared via separate posts.
Compound Growth Program Awarded 1.8M ARB Grant from Arbitrum DAO
The Compound Growth Program has been awarded a significant 1.8M ARB grant from Arbitrum DAO, marking the largest grant of this funding cycle and nearly double the amount awarded to the next highest recipient. This grant, part of Arbitrum DAO’s 45M ARB fund for ecosystem growth, will be used to enhance Compound’s markets on Arbitrum. The entire grant will be distributed to Compound users within three months, with funds disbursed in tranches contingent on bi-weekly reporting to Arbitrum DAO.
Arbitrum DAO initiated a pilot program to strengthen its ecosystem, inviting grant applications in February. Following a comprehensive review process and a Snapshot vote, Compound’s adjusted proposal for 1.8M ARB received 151 million supportive votes. Initially, Compound had requested 5M ARB but revised the amount due to the fund being oversubscribed by 200%.
Currently, Compound’s rewards contract only distributes COMP tokens. To distribute ARB rewards, the contract is being updated to handle both ARB and COMP. If the updated contract is not ready in time, third-party solutions like Layer3 will be used for distribution.
Because the contract is not ready we are experimenting with third-party solutions outlined here. [AlphaGrowth] ARB LTIPP incentives distribution mechanism experiments
This grant highlights the powerful synergy between Compound and the Arbitrum ecosystem. We’re excited to announce the upcoming launch of USDT and ETH markets on Arbitrum, poised to thrive with the aid of these grant distributions. Compound is committed to setting a new standard for future initiatives, enhancing its integration within this dynamic ecosystem. We urge the community to stay engaged, keep up with updates, and actively participate in forums and discussions. Together, we can maximize the grant’s impact and propel DeFi innovation forward.
Compound Growth Program Receives 150,000 OP Grant from Optimism Grants Council
The Compound Growth Program has been awarded a 150,000 OP grant (equivalent to ~$400K, valued at $600K at the time of application) from the Optimism Grants Council. This funding will be used to enhance user engagement and increase the Total Value Locked (TVL) on the Optimism network. For more details, visit: Compound’s Grant Application 3.
Background: The Compound Growth Program initiated efforts to deploy on the Optimism network in December, and after thorough development and audits, successfully launched by April 2024. Following the launch, the program applied for a grant from the Optimism Grants Council, initially requesting 210K OP, but adjusting to 150K OP to match available funds.
This grant is a significant milestone, reinforcing the collaboration between Compound and Optimism, and supporting platform enhancements within the Optimism ecosystem.
Distribution Mechanisms: The grant will be used to incentivize user engagement on the platform. AlphaGrowth’s legal entity will handle the KYC verification process required by the grant.
To distribute the grant incentives effectively, an updated rewards contract is needed, capable of integrating grant incentives with COMP rewards. This updated rewards contract, designed to improve APR on Compound Markets, is complete and awaiting an audit by OpenZeppelin. Until deployment, interim solutions will be used to manage distributions.