Coinbase: Announces USDC Bootstrap Fund

0
133
Coinbase: Announces USDC Bootstrap Fund

Coinbase: Announces USDC Bootstrap Fund to support DeFi projects

  • The company wants to support developers with a fund composed of USDC tokens
  • Coinbase, the company thinks there’s not enough liquidity for some DeFi protocols
  • When the startup wants to improve that by investing USDC directly in DeFi protocols
  • Those investments are smart contracts, and returns should be provided by a counterparty
  • Coinbase is also announcing its first two investments through the USDC Bootstrap Fund
  • The company is handing 1 million in USDC to Compound, and 1 million in USDC to dYdX