Compound announced a $52 million development program, the largest in its history, to attract banks, asset managers and fintechs to decentralized finance. The funds are split between $28 million for operations and $24 million for growth, but only $14 million are released immediately, with the remainder conditional on delivering a new liquidation engine, a V3 integration kit and securing a major institutional partner within six months. This ambition contrasts with market reality: Compound’s TVL stood at $1.25 billion on August 18, far below its peak of nearly $12 billion in September 2021 and trailing Aave ($14.4 billion) and Morpho ($8.1 billion). To lead this pivot, Aaron Schnarch, former CEO of Coinbase Custody, becomes general manager, joined by Christopher Donovan (ex Near Foundation) and Steven Liu (ex Maple Finance).
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