Coinbase, a number one crypto buying and selling platform, has introduced a brand new $2 million USDC fund to additional develop decentralized finance (DeFi) initiatives.
Distinction Between Bootstrap Fund and Coinbase Ventures
The initiative is to be referred to as the USDC Bootstrap Fund and can see $1 million USDC invested in each Compound, a cash market protocol, and dYdX, a margin buying and selling protocol and open buying and selling platform for crypto property. The fund differs from Coinbase Ventures, which invests in startups and takes an fairness stake, in that it’ll add to the protocols’ lending swimming pools and return curiosity when counterparties borrow …
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