Compound is going all-in this time. From a peak of $12 billion TVL to now having only $1.2 billion in deposits—less than one-tenth of Aave—this pioneer that once kickstarted DeFi Summer is finding it hard to make a comeback in the retail market. Now, they’re putting up $52 million, switching to a management team with institutional backgrounds like Coinbase Custody, Anchorage, and Maple, and betting their next growth curve on institutional DeFi. The problem is, the institutional market is no longer a blue ocean. Aave, Morpho, and Maple are all crowding in. This $52 million is buying Compound a shot at returning to the top tier—or it could be an expensive final gamble.