Compound approves $52M institutional DeFi program

Compound Foundation announced a new leadership team and a DAO approved $52 million development program on Aug. 17, targeting institutional credit and real world assets. Summary Compound DAO approved a $52 million two year program focused on institutional credit and infrastructure. Only $14 million is available initially, while $38 million remains subject to specific delivery milestones. Aaron Schnarch will lead Compound Foundation alongside executives overseeing operations, products, and core engineering functions. The roadmap includes real world asset support, integration tools, and improved onchain lending capital efficiency. Compound says it has processed roughly $480 billion in deposits and borrowing volume since 2018. Aaron Schnarch, a former Coinbase Custody chief executive, will serve as executive director. Christopher Donovan joins as chief operating officer, Steven Liu as chief product officer and Leo Eikelman as chief technology officer. Compound described the allocation as the largest development program in the protocol’s history. However, the DAO has not made the entire $52 million immediately available for operating expenses. The two year program releases $14 million a...