Exciting News on Compound’s Partnership with Ronin!
To drive more DeFi adoption in their ecosystem, Ronin and Circle are partnering with Compound to test cUSDC as Ronin’s de facto stablecoin. This partnership will incentivize the conversion of a majority of the 35M in USDC holdings to yield-bearing cUSDC stablecoins, and enable gamified savings accounts for Ronin Users.
Our objective is to create a savings accounts for all Ronin Users. We are working with WOOF! and Chainlink CCIP to build specifications on a converter wrapper, which will allow any Ronin user to bridge in USDC via Chainlink CCIP, and provide supply-side liquidity on Compound in one click. From there, we can build out and grow cUSDC liquidity. With this campaign we can create in-game incentive flows which direct users to build their savings.
Ronin and Circle are both in talks around amounts to co-incentivize for test campaigns, in order to push this project forward. Details have not been finalized, but we are actively working toward this implementation.
This is a great opportunity for Compound to become a savings solution for 646k daily active users on Ronin. cUSDC will offer protection against volatility of in-game assets, as well as USD inflation risk. With an abundance of supply side liquidity, Compound will also be able to provide Ronin users with leverage, which makes for compelling DeFi Integrated gameplay.
The marketing potential to advertise on behalf of the Ronin Community is huge, so we will be sharing more as the project moves forward.