Washington, DC, July 24, 2024 (GLOBE NEWSWIRE) -- Compound DAO, a leading decentralized finance (DeFi) protocol, announced the formalization of a one-year partnership with AlphaGrowth, the DeFi operations firm.
Washington, DC, July 24, 2024 (GLOBE NEWSWIRE) -- Today, Compound DAO, a leading decentralized finance (DeFi) protocol, announced the formalization of a one-year partnership with AlphaGrowth, the DeFi operations firm. Operating under the principle that protocols over $100B in valuation should not be out-operated by protocols valued at $100 Million, AlphaGrowth aims to accelerate multiple blockchain protocols and ecosystems. This strategic collaboration follows a successful five-month trial period that began in December and aims to drive sustainable revenue generation and solidify Compound's position as a DeFi leader.
Recognized for its expertise in decentralized operations and strategy, AlphaGrowth is uniquely positioned to address the challenges faced by blockchain protocols seeking to scale and optimize their operations. Many protocols, despite their substantial valuations, lack the operational infrastructure and strategic guidance necessary to fully realize their potential. AlphaGrowth aims to bridge this gap by providing a comprehensive suite of services that are tailored to the unique needs of decentralized organizations.
"We see ourselves as the strategic engine that propels DeFi protocols forward," said Bryan Colligan, CEO of AlphaGrowth. "Just as a well-designed car needs a skilled driver to reach its full potential, blockchain protocols need expert operational guidance to navigate the complex DeFi terrain and achieve sustainable growth."
This approach to decentralized operations is realized through a multi-faceted strategy. Among AlphaGrowth's goals are onboarding new markets and collateral assets on Compound V3, expanding the protocol's presence on new blockchains, and securing ecosystem grants to distribute to Compound users as APR incentives. Already, the team has achieved notable successes, securing a 1.8M ARB token grant and 150K OP token grant on behalf of the protocol. Distributing a portion of these grants as incentives has attracted a remarkable $130 Million in new TVL to Compound's markets.
Further demonstrating their commitment to innovation, the team has successfully launched Compound on Optimism with USDT and USDC markets, and augmented Arbitrum by adding wETH and USDT markets. Several new collateral assets have also been added. With a rigorous development schedule in place, the team aims to achieve its ambitions of driving $500 Million in TVL for the next year.
To participate in several ongoing user initiatives, including user marketing campaigns and rewards programs, please visit the following links:
AlphaGrowth is deeply committed to collaborating with the Compound community, actively engaging in discussions on the Compound forum to foster transparency and gather valuable insights.
The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
