According to Deep Tide TechFlow news on August 13, The Block reported that Coinbase announced the restart of the Stablecoin Bootstrap Fund, marking the second phase of the project since the company first launched a similar initiative in 2019. The fund will initially provide stablecoin liquidity support for decentralized financial protocols such as Aave, Morpho, Kamino, and Jupiter.
The project is operated by Coinbase's asset management department, initially deploying USDC and EURC stablecoins, with potential future expansion to other stablecoin varieties. Coinbase's Chief Business Officer Shan Aggarwal stated that this move aims to ensure decentralized protocols have sufficient liquidity to meet user demand.
It is noteworthy that Coinbase's first phase fund launched in 2019 invested $1 million each in protocols such as Compound and dYdX, and subsequently added $1.1 million investment to Uniswap and PoolTogether. These early layouts helped USDC become the core stablecoin in the decentralized financial ecosystem.
