Coinbase restarts the Bootstrap Stablecoin box, which was first offered in 2019 to enhance the liquidity of USDC Stablecoin in a group of famous and decentralized financing protocols.
Coinbase He said On Tuesday, it will provide its first places USDC (USDCLiquidity in ETHREUM AAVE and Morpho lenders, and Kamino and Jupiter trading platforms.
He added: “With our expansion of the box over time and the distribution of liquidity through more protocols and stablecoins, we are especially longing for cooperation with pre -launch teams or those who seek to push Stablecoin growth from the first day.”
Coinbase said that publishing will be managed by Coinbase Asset Management and is designed to ensure that users can reach reliable prices via mature and emerging protocols.
Coinbase did not reveal the size of the box. Cointelegraph Coinbase called for comment.
Coinbase has helped create USDC alongside the source, Circle Internet Group, but it is still the key to its ecosystem. Cord (USDTIt dominates the size of Stablecoin via the ecosystem for encryption, with more than $ 100 billion on the market value of the USDC, and the Coinbase to increase USDC’s Liquidity In Defi it can attract more encryption traders and borrowers to the distinctive symbol.
The total closed value in the Defi protocols is currently at $ 165.4 billion, led by AAVE and ETHER (EthLEDO liquid protocol for $ 41 billion and 40.8 billion dollars, Devillama Data He appears.
Blue Chip Defi protocols benefit from the first Coinbase box
The revival of the Bootstrap Coinbase Stablecoin Fund comes six years later It was first presented In September 2019 to help the ETHEREUM -based DEFI protocols such as uniswap, compound and Dydx with USDC liquidity.
The first of these funds has published one million dollars each on their compound and Dydx, which helped pave the way for USDC to grow to become popular Stablecoin in Defi yet Just launch a year ago.
USDC now has a market value of $ 65.6 billion, and is behind 164.6 billion dollars, CONINICKO Data He appears.
Like most stablecoins, USDC is supported on many Blockchains, including ETHEREUM, Base, Solana, Polygon, Aptos, Avalanche, but.
Total Coinbase’s revenues, but Stablecoin’s revenues are higher
Coinbase comes as mentioned $ 1.5 billion in revenue For the second quarter, industry forecast fell from $ 1.56 billion to $ 1.59 billion.
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However, while revenues decreased by 26 % from the previous quarter, its stablecoin-revenues increased primarily through USDC-by 12 % to $ 332 million.
Coinbase aims to be “applying everything”
Coinbase aims to launch the “Super application” yet Coinbase wallet To the “Basic App” on July 16, which the stock market said to be developing “from a portfolio to the application of everything that brings together social, chat, chat, payments and trading.”
The application will aim to “expand economic freedom, creativity and innovation”, as the head of the product for the basic application, John Granata, said, adding that it may be a starting point for a new type of social network.
The application is still in the beta stage.
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