Avantgarde decided to signal our support for the AlphaGrowth program in the recent vote. We conducted DD which included reference checks. The feedback from other teams which interacted with AlphaGrowth was mostly positive.
That being said we would like to highlight a couple of points, which we feel are important to consider for future similar proposals:
Absence of genuinely competitive tender was a negative feature in this case. Normally we would expect for a formal RFP to be rolled out and several teams bidding on the mandate. There should be an ecosystem wide invitation for potential service providers.This problem is closely linked to delegate / community participation and we are glad that community is working on improving this vector.
The following KPIs were part of the proposal, we expect the team to deliver timely updates and will be monitoring progress.
- Total Value Locked (TVL) Expansion: Aim to increase TVL by $500 million across new and existing markets.
- Treasury Growth: Target generating $10 million in treasury growth for the DAO, ensuring the Growth program is cost-neutral.
- Market Development: Launch 8-15 new markets, including USDT markets on all applicable chains, with a focus on high TVL opportunities.
- Chain Expansion: Expand Compound to 4-6 additional blockchain networks, implementing quantitative criteria for chain selection.
- Strategic Partnerships: Establish high-value, industry-first partnerships and continue leveraging incentives from collaborations.
- User Acquisition: Significantly increase over 25,000 new users, leveraging successful campaigns and focusing on L2’s and new market launches solutions
- Infrastructure Expansions: Evaluate reputable partnerships for key infrastructure such as bridges and oracles and collaborate with new partners as new opportunities arrive.
We would like to invite other delegates to share their opinion on the process as well.
Best of luck to AlphaGrowth team.