- Bobby Bola
StableLab Appointed Grant Distributor for Compound Grants Program 2.0
Updated: Feb 7
StableLab is excited to announce our participation in the latest iteration of the Compound Grants Program. In December 2022, the Compound protocol community renewed its community-led Grants Program to support projects building within the Compound ecosystem. The program will look to reward up to $2M over the next 6 months across four “domains” or key areas for the protocol. Through our deep engagement with Compound as a governance leader, we have been appointed the role of distributing grants to builders focused on cross-chain strategies and multi-chain deployment of the Compound protocol.
We look forward to serving as a domain allocator for the program and strengthening our partnership with Compound and its community. If you want to deploy Compound on an EVM-compatbile chain or help with Compounds cross-chain prospects, then feel free to reach out to us.
See below for more information.
Compound Grants Program 2.0 - Multichain & Crosschain
The multichain & cross-chain strategy will focus on supporting Compound in two ways;
Multi-chain deployment on EVM Compatible Chains
Facilitate cross-chain strategies (governance, liquidity, etc.)
With Compound III (Comet) launch, the Compound protocol can easily be deployed across any EVM-compatible chain. With the release of Comet and other features, Compound III prioritizes protocol safety with its new mechanisms. This domain will support the deployment of Compound on other L2s or L1s for users to utilize these new features.
One of the issues with multichain and cross-chain is the exposure to more hacks. Therefore it is paramount that only vetted chains and bridges are implemented. In evaluating these proposals, I will post a public list of resources used to assess the security of chains and bridges, which can be found at the bottom of this document.
What makes a good proposal?
Clear Goals and Objectives: The proposal has clearly outlined the goals and objectives in an informative manner. We should be able to understand how your proposal adds value to the Compound Ecosystem.
Team: The proposal mentions the core team members, their role in the project, and a history of their experience in other projects.
Milestones: Briefly describe the milestones in your project. We are more likely to provide grants with milestones.
Explanations for Amount Requested: Provide a granular explanation of the amount requested so we can understand where the funds are being distributed.
Effective and efficient distribution of funds: Ensure that the funds are distributed effectively.
Deploying on other chains
Polygon, Optimism, Arbitrum, Avalanche
Handle parameter changes on non-eth chains via governance
Deep liquidity for COMP to be available on other chains
Move positions from one chain to another (i.e. Bridge and deposit into Compound in one click)
Open track - $5k to $25K
Propose your own idea
Would you like to have a cap on the grant size etc?
Roughly $25k, but if a project has a compelling reason, we can go higher.
Domain allocator: Bobby Bola
Preferred contact method for questions: @bobbayb on telegram
@Bobbay_Stablenode on Compound Forums (comp.xyz)
@Bobbay_B on Twitter
Get in touch,
If you would like to support us in our governance efforts,
If you and your team need guidance on governance related matters, or
If you are a founder who is building something interesting in web3