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Coinbase Brings Back Bootstrap Fund to Boost USDC in DeFi

Key Takeaways

  • ​Coinbase has relaunched its Stablecoin Bootstrap Fund to grow USDC liquidity in DeFi;
  • First allocations target Aave, Morpho, Kamino, and Jupiter across Ethereum and Solana;
  • The fund aims to support both new and established platforms with steady USDC access.

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Coinbase Brings Back Bootstrap Fund to Boost USDC in DeFi

Coinbase $1.97B has decided to restart its Stablecoin Bootstrap Fund, an initiative to help decentralized finance (DeFi) platforms access USDC USDC $1.00 liquidity.

According to a blog post released on August 12, the fund will be managed by Coinbase Asset Management (CBAM).

Its first USDC allocations are going to Aave AAVE $321.04 and Morpho on Ethereum ETH $4,371.06 , and Kamino and Jupiter JUP $0.0010 on Solana SOL $206.59 .

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Coinbase stated that the goal is to support platforms that are already established as well as those just starting out.

The exchange said:

As we scale the fund over time and distribute liquidity across more protocols and stablecoins, we’re particularly eager to collaborate with pre-launch teams or those seeking to drive stablecoin growth from day one.

The exact size of the fund was not shared, but the plan is to expand it gradually. It is meant to make sure that users in the DeFi industry can access stablecoins at consistent and competitive rates, no matter which network or application they use.

This is not Coinbase’s first attempt at such a program. In 2019, after the launch of USDC, the company introduced a similar Bootstrap Fund. It helped some of the earliest DeFi platforms, including Uniswap UNI $9.45 , Compound COMP $42.11 , and dYdX DYDX $0.5834 , gain access to the stablecoin.

Coinbase recently announced plans to raise $2 billion through a private sale of convertible notes. What is the purpose of this funding? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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