We received community feedback on our last Growth Program proposal, we are thankful to all the delegates, community members, and Compound Partners for coming out and taking part in this process. It’s amazing to see how much activity and how many delegates came out for this last proposal. It was the most voted-on proposal in Compound DAO’s recent history. This post outlines the recent events centering around the Compound Foundation and the role of the Compound Growth Program.
Compound Foundation
The formation of Compound Foundation is needed and welcome, unfortunately the announcement coincided with the active voting period of the proposal. We were unaware of when the Foundation would be launching. We are excited with the formation of the Compound Foundation and look forward to assisting the foundation and the wider community in this endeavor.
Interim Growth Operations
The Compound Growth Program is approaching its one-year mark, and with the Foundation’s launch still pending. A community member involved in its formation suggested that AlphaGrowth continue operating a growth program in the interim. The suggested solution is a temporary two-month extension of the growth program while the foundation spins up operations. In two months when roles are more formally established the growth program’s role will be revisited.
In this post, we outline the broad priorities that we would like to pursue for the Compound Growth Program for the interim period. We will continue the past mandates of the Growth program and add support for chain success.
Proposed Interim Mandates
Chain success
One key insight from the past few months is that the success of each chain is crucial to the overall deployment cycle. With five chains launched during this phase of the Compound Growth Program, it’s essential to study, plan, and strategize growth for each one—working closely with stakeholders in their respective ecosystems.
Asset Deployment Pipeline
We will continue pushing assets currently in the deployment pipeline. These include new collateral assets in active conversation, planned deployments and deployments that we have already passed to Woof for coding.
Chain Deployment
Chain deployment is a 3-month process at minimum. No new chains will be added, so this scope stays minimal. But for chains like Berachain, Sonic, Monad and other chains with whom we have active conversations, we will keep pushing. We will also continue conversations with the Polygon ecosystem to potentially add something new. These conversations started IRL with Polygon stakeholders at Consensus Hong Kong and show great potential.
Grant consultation
We will continue applying for grants from existing chains on which Compound is deployed. This process includes the scouting, scoping and applications to public grant programs. For chains without active public grants programs, we will continue working closely with core team members to source and negotiate incentive deals.
Incentive distribution and Structured product partnerships
Currently the Compound Growth Program holds incentives on behalf of multiple partners and will soon receive incentives from an additional blockchain. These incentives include ~$1M USD in MNT from Mantle, remaining incentives from Optimism, and incoming incentives from the Ronin blockchain. Additionally, the Sky team has committed to send us incentives on a rolling basis. We will continue to work to distribute these incentives to Compound users through our structured product and DeFi app partners.
Rewards contract
The goal is to launch a native multi-token reward distribution system. We are at a pretty advanced stage of this project and will continue with its deployment, implementation, and iteration.
SVR/OEV
Oracle extractable Value is one of the key topics where the DAO could benefit in terms of added revenue. We will continue helping reduce deployment process timelines while pushing to implement the required components within the next two months.
Paused projects
The following projects will be kept on hold, until clarity emerges after the formation of the Foundation
Decentralized Frontend
The frontend requires multiple resources and ongoing maintenance contracts. With the advent of the Compound foundation who will own compound.finance, we will wait for the foundation to decide which UI it will support. If they request the continuation of the decentralized frontend’s UI we will be ready to assist, until then we will post on the forum how community members can self-host. And will pause upgrades, maintenance, and hosting on previously shared public domains, while we await further instructions.
Expansion verticals
A few verticals we originally planned to push, including high-impact long sales cycle projects. Again, we will wait for clarity and directions from the foundation and community on these projects, and we will push strategies that are agreed upon. For now, these projects have been put on hold.
- Fixed Rate products
- Insurance
- Vaults
- Bonds
Discontinued Projects
Due to new actors and changing mandates, we have discontinued the following projects
StakedCOMP
We started this project in the aftermath of the commitments made for Proposal 289. Since then, multiple parties have offered their own solutions on how to implement StakedCOMP. As such, AlphaGrowth withdraws its intention to implement StakedCOMP. We leave this project to the foundation, governance working group, and community.
Program Duration and Compensation
The interim program will focus on a short-term duration 2 months from May 1st to July 1st 2025 for $340,000 USDC.
Next Steps
We look forward to receiving community feedback
