Coinbase Revives Stablecoin Funding Program to Bolster DeFi Liquidity
Main Idea
Coinbase is reviving its Stablecoin Bootstrap Fund to enhance stablecoin liquidity in decentralized finance (DeFi) platforms like Aave, Morpho, Kamino, and Jupiter.
Key Points
1. The program initially allocated funds in USDC and EURC stablecoins on platforms such as Aave, Morpho, Kamino, and Jupiter.
2. Coinbase first launched the program in 2019 to support early trading pools for USDC stablecoin, aiding platforms like Aave and promoting USDC in the DeFi ecosystem.
3. The DeFi sector has grown significantly, with nearly $200 billion in assets held across protocols, though still below its 2021 peak.
4. The revival of the fund aims to boost liquidity in DeFi deployments amid easing regulatory pressures in the U.S.
Description
Crypto exchange Coinbase (COIN) said on Tuesday it is reviving its Stablecoin Bootstrap Fund, aiming to boost stablecoin liquidity on decentralized finance (DeFi) markets. The initiative will be managed by Coinbase Asset Management and begins with deployments on Aave, Morpho, Kamino and Jupiter, according to a blog post. The exchange first launched the program in 2019 to help protocols seed early trading pools for USDC stablecoin. That effort supported early platforms like Uniswap (UNI), Compoun...
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