MakerDAO Gets 1.5% Interest on USDC from Coinbase
Join Our Telegram channel to stay up to date on breaking news coverage Major cryptocurrency trading platform Coinbase is interested in forming a partnership with MakerDAO, the most prominent decentralized lending platform. Coinbase has made an offer to pay MakerDAO 1.5% interest on its USDC assets if Maker transfers those holdings to Prime, which is Coinbase’s institutional-grade investing platform. Coinbase Institutional stated in a proposal titled “MIPXX Coinbase USDC Institutional Rewards” published on MakerDAO’s online forum that the offer will address MakerDAO’s issue of having too much exposure to the dollar-pegged stablecoin for which it receives no incentive. More specifically, if the Maker Improvement Proposal (MIP) is approved, it will bring MakerDAO onto Prime as an institutional investor . It will also make it possible for 1.6 billion dollars, of the Ethereum-based cryptocurrency lender’s USDC holdings to be transferred to MakerD...