Coinbase Revives Stablecoin Bootstrap Fund to Enhance DeFi Liquidity
Coinbase is reviving its Stablecoin Bootstrap Fund to enhance stablecoin liquidity in decentralized finance (DeFi) markets. Key points include:
- The initiative will be managed by Coinbase Asset Management.
- Deployments will occur on Aave, Morpho, Kamino, and Jupiter.
- The fund originally launched in 2019 to support early trading pools for USDC, aiding platforms like Uniswap and Compound.
- This iteration aims to allocate capital across established and emerging protocols for stable yields and efficient markets.
- Size and specific allocations of the fund are not disclosed; it will test placements across multiple networks.
- Current funding includes USDC and EURC, Circle's euro-pegged stablecoin.
- The DeFi sector has almost $200 billion in assets, nearly doubling since April but still below its 2021 peak.