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. AlphaGrowth has a proven track record of accelerating 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.
AlphaGrowth, recognized for its expertise in decentralized operations and strategy, 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 bridges this gap by providing a comprehensive suite of services 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."
AlphaGrowth's approach involves a multi-faceted strategy that includes 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, AlphaGrowth is poised to achieve its ambitious goals to drive $500 Million in TVL for the next year.
Users are invited to participate in several ongoing marketing campaigns and rewards programs, including: (Ross Gates and I have to update these
- Lend USDC on OKX: Live July 2nd
- Lending wETH through VaultCraft: LIVE July 9th
- Lending USDT through Vaultcraft: LIVE July 10th
- Participating in Layer3's Quest to Lend wETH on Arbitrum: Starting July 11th
- Lending ETH on OKX: Starting July 12th
- Lend USDT on OKX: Starting July 12nd
AlphaGrowth remains deeply committed to collaborating with the Compound community, actively engaging in discussions on the Compound forum to foster transparency and gather valuable insights.
Disclaimer: 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.
