Coinbase, the cryptocurrency exchange, has announced the revival of its Stablecoin Bootstrap Fund, initially launched in 2019, with the aim of enhancing stablecoin liquidity within decentralized finance (DeFi) markets. The revived program will start with funds deployed on platforms including Aave, Morpho, Kamino, and Jupiter.

Key Details:

• The fund aims to bolster liquidity for stablecoins such as USDC and EURC.
• Initially, this program was instrumental in seeding early markets for USDC on platforms like Uniswap, Compound, and dYdX, establishing USDC as a primary stablecoin in DeFi.
• This new phase of the fund will invest capital across both established and emerging DeFi applications to ensure adequate access to stable yields and effective market participation.

Despite the positive direction of the DeFi space, it remains below its peak market size witnessed in 2021, with approximately $200 billion in assets managed across various protocols as of now, which has nearly doubled since April of this year.