AlphaGrowth Partners with Compound DAO to Propel DeFi Expansion
TL;DR
Compound DAO solidifies its position as a DeFi leader through a one-year partnership with AlphaGrowth, driving sustainable revenue generation.
AlphaGrowth's strategic collaboration with Compound involves new markets and collateral assets, expanding presence on new blockchains, and securing ecosystem grants.
AlphaGrowth's partnership with Compound aims to address the challenges faced by blockchain protocols, ultimately driving sustainable growth in the DeFi space.
AlphaGrowth's multi-faceted strategy includes launching Compound on Optimism, adding new collateral assets, and achieving remarkable successes in securing grants and TVL growth.
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Compound DAO, a prominent decentralized finance (DeFi) protocol, has announced a formalized one-year partnership with AlphaGrowth, a DeFi operations firm known for accelerating blockchain protocols. Following a successful five-month trial that began in December, this strategic collaboration aims to drive sustainable revenue and solidify Compound's leadership in the DeFi sector.
AlphaGrowth has a proven track record in decentralized operations and strategic planning, making it uniquely equipped to address the operational challenges faced by blockchain protocols. Many of these protocols, despite their high valuations, lack the necessary infrastructure and strategic guidance to fully realize their potential. AlphaGrowth bridges this gap by offering a comprehensive suite of services tailored to 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 strategy involves expanding the protocol's presence on new blockchains and introducing new markets and collateral assets on Compound V3. The firm also aims to secure ecosystem grants to distribute to Compound users as Annual Percentage Rate (APR) incentives. Already, AlphaGrowth has secured a 1.8 million ARB token grant and a 150,000 OP token grant, attracting $130 million in new Total Value Locked (TVL) to Compound's markets.
The team has also launched Compound on Optimism with USDT and USDC markets and added wETH and USDT markets on Arbitrum. Several new collateral assets have been introduced, and with a rigorous development schedule, AlphaGrowth aims to drive $500 million in TVL over the next year.
Users can participate in various ongoing marketing campaigns and rewards programs, including lending USDC on OKX starting July 2nd, lending wETH through VaultCraft starting July 9th, and participating in Layer3's Quest to lend wETH on Arbitrum starting July 11th.
AlphaGrowth remains 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.
Curated from BlockchainWire
