Compound Need To Increase Community Engagement And More

Hello Compound Community, please allow us to describe the current state of Compound and we would like to share some ideas.

Analysis of social media operations :sleeping_bed:, according to the 3 media listed on the official website:

First of all, congratulations as Compound Treasury receives S&P Credit Rating. It is the first institutional decentralized finance (DeFi) offering to be rated by a major credit rating agency. The announcement of this great news is also Compound’s first medium of this year. Its last post was published 186 days ago.

Maybe it was Medium’s restriction on the content which led to the low frequency of Compound’s posting at intervals of half a year. But it also shows that Compound Labs give very little attention to its marketing channels or materials. If it were Medium’s restriction, Compound can consider switching to Substack or Mirror, but we see no such changes, so maybe we should not blame Medium.

Perhaps for security reasons, Compound has not set up an official Telegram channel, which also gives many fake Compound accounts the opportunities to fish for newbies. Users really need to improve their security awareness and cannot submit mnemonic phrases to those scam accounts.

Suspicion of SCAM on telegram

Compound Discord Channel hosts bi-weekly developer conferences, which is the only place where the community gets to know about Compound’s updates and progress. The community has no way of knowing what features, user need or use cases Compound is working on, or when they will complete in the future, nor any estimated time of completion.

We would very much like to see an roadmap which is transparent about its progress. :building_construction:

The following is roadmap examples of Filecoin and Looksrare.

If Compound had been more open with its roadmap and process, the Community would have been able to give comments and share ideas, rather than seeing it spending time immersed in CompoundGateWay and then switched to the multi-chain strategy at a very belated stage. All of its lagged transition makes Compound falling behind the market, which directly demises its impact among defi protocols, as well as the faith of the Compound Community.

We often see spam messages in Discord channel left unattended for hours before some staff delete it. Most of the time, the number of discussions and speakers is equal to the total number of addresses participating in such proposal’s voting. The Compound Community is currently in a very quiet state, more actions are needed to engage the Community.

In the meanwhile, Compound Twitter stats are not optimistic either. Compound Labs tweets about 1 to 5 times per month. The net increase in its followers has decreased. Compared to growth data, tweet frequency and followers of other competing protocols, Compound has fell way behind.


To sum up, we think there is much relativity between Compound’s inactive community, intransparent develop progress, below-average media influence and Compound’s overall user growth rate.

Compound’s market occupancy rate in lending protocols decreased from 40.82% to 10.37%.


Special thanks to Gauntlet’s efforts for this.

Lending | Markets | Token Terminal

The decline in its market occupancy directly leads to the decline of its protocol revenue, which indirectly reduces the attractiveness of COMP in the market. Buying interest declined. So please do not attribute it to the decline of the whole crypto market.

Compound Forks :imp:

Forks - DefiLlama

Curve Forks (like Saddle and Ellipsis) have brought some benefits (aka airdrop) to holders of Curve and veCRV, while Compound Fork never really bring benefits to holders of COMP. Moreover, due hack accidents related to Compound Forks’ modified code, Compound’s branding was tarnished, and COMP holders took the hit as well.

Rekt - Voltage Finance - REKT

Rekt - Agave DAO, Hundred Finance - REKT

Rekt - Fei Rari - REKT 2

https://thedefiant.io/compound-finance-fork-easyfi-loses-over-60m-in-admin-key-hack/

This Compound Finance Fork Just Froze $1M in Ethereum Tokens - CoinDesk

DeFi Lending Protocol Ola Finance Exploited for $3.6M

DeFi Project Cream Finance Exploited in $25M Flash Loan Exploit - Decrypt

Should Compound Forks allocate 3-10% tokens to COMP holders?

Compound Forks and other lending protocols are getting VC attentions

Polychain Capital Portfolio:
Aurigami(Compound fork in Aurora)
Solend
UMEE
ParaFi Capital Portfolio:
Bastion(Compound fork in Aurora)
Burrow
Jet Protocol
Robot Ventures Portfolio:
Moonwell
Jet Protocol
Paradigm Portfolio:
Euler
Jet Protocol

It is quite common for VCs to invest in multiple lending protocols. Considering Compound’s large COMP reserves, is Compound interested in getting new strategic investors? We know Compound probably doesn’t need financing, but what about strategic cooperation?

As the whole crypto market surges, more and more funds emerge in the years of 2021 and 2022. Many of them have large AUMs and are quite insightful. Maybe they have a lot of interest in Compound but in need of an opportunity to participate.

New funds might bring new perspectives and synergies, and can also provide financial support for some of Compound’s expenditures, such as Certora Formal Verification, increasing mmunefi’s bounty, recruiting developers and community operators.


Messari - Bitcoin & crypto price, news, charts, and research

Compound | Leaderboard

This reminds us of Sushi’s proposal for a Strategic Raise. We believe Sushi would have been in a much better place if such proposal wasn’t withdrawn.

[Withdrawn] Sushi Phantom Troupe - Strategic Raise - Sushinomics - SushiSwap

:boom:CONCLUSION:boom:

Does Compound need to increase user engagement in social media and improve its operation of Twitter and Discord?

Should Compound create progress board for the community and increase its development transparency?

Should we ask Compound Forks for token distribution?

Should Compound consider bringing in new funds?

CLAIRVOYANTLABS HAS NOT DESIGNED A SPECIFIC PLAN TO IMPROVE SOCIAL MEDIA. THIS IS JUST AN IDEA, IF MOST PEOPLE AGREE, WE SHALL DISCUSS THE DETAILS IN THE COMMUNITY TOGETHER.

CLAIRVOYANTLABS DOES NOT HAVE PERMISSION TO CREATE DEVELOPMENT PROGRESS BOARD OR ACCESS TO ANY UNDISCLOSED INFORMATION, IT DEPENDS ON COMPOUND LABS WHETHER THEY ARE WILLING TO OPEN IT TO THE COMMUNITY.

CLAIRVOYANTLABS HAS NO INTEREST IN ANY COMPOUND FORKS AND HAS NOT INITIATED ANY PROPOSALS IN ANY FORK COMMUNITY.

CLAIRVOYANTLABS HAS NOT DISCUSSED FINANCING PLAN WITH COMPOUND LABS. IT IS JUST AN IDEA FOR THE COMMUNITY TO DISCUSS, NO FURTHER FUNDING DETAILS OR ANY POTENTIAL INSTITUTIONS. IT IS UP TO COMPOUND LABS AND THE COMMUNITY TO MULL ON.

CLAIRVOYANTLABS IS NOT ASSOCIATED WITH COMPOUND LABS IN ANY WAY, OTHER THAN BEING A LONG-TERM HODL AND A TRUE HEAVY USER.

Does Compound need to increase user engagement in social media and improve its operation of Twitter and Discord?

  • YES
  • NO

0 voters

Should Compound create progress board for the community and increase its development transparency?

  • YES
  • NO

0 voters

Should we ask Compound Forks for token distribution?

  • YES
  • NO

0 voters

Should Compound consider bringing in new funds?

  • YES
  • NO

0 voters

Don’t waste your time, just read old posts and you will realize that they don’t want community. Check initial token distribution and issuance model. Check “accidentally” bug that become famous as best airdrop after Uniswap. Check how “masterminds” tried control community with populistic tricks. Why Compound VCs dont want deploy protocol on scaling solution?
Why they state that Coinbase oracle is better than Chainlink?

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