According to CoinMeta, the Compound Foundation announced the approval of a $52 million institutional DeFi development plan aimed at promoting the on-chain movement of institutional credit and real assets. The plan was approved by DAO on August 17th and is expected to be divided into a $28 million operational project and a $24 million growth incentive program. The initial $14 million in funds will be used for approximately 12 months of implementation, with subsequent funds to be released after meeting specific development and institutional adoption milestones. The Compound plan aims to launch its first product in the coming weeks, with a commitment to releasing progress reports on a monthly basis.