Compound Revamps Management, Approves $52 Million Budget to Court Institutional Investors
Summary
- Compound Finance said it revamped its management team and approved a $52 million budget.
- Compound plans to focus on attracting institutional investors to restore growth as its total value locked (TVL) has declined.
- The protocol plans to pursue real-world asset (RWA) product development, expand partner integrations and build credit infrastructure.
Forecast Trend Report by Period
Compound Finance, a decentralized finance lending protocol, has revamped its management team and approved a $52 million budget.
CoinDesk reported on Aug. 17 that Compound plans to focus on attracting institutional investors as it seeks to revive growth after its total value locked, or TVL, fell to about $1.2 billion from a 2021 peak of $12 billion.
The protocol also plans to develop real-world asset, or RWA, products, expand integrations with partners and build credit infrastructure designed to meet existing financial regulations and technical standards.
As part of that effort, Compound appointed former Near Protocol Chief Operating Officer Christopher Donovan, former Maple Finance executive Steven Liu and former Coinbase Custody Chief Executive Officer Aaron Schnarch to its management team.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.