Coinbase In his newly published blog post, he will be active in many different countries of the world. decentralized finance (DeFi) announced the addition of investment opportunities.
The US-based exchange announced in a new blog post that customers can earn variable yield interest by holding their Dai (DAI) stablecoin. Coinbase says the DeFi return feature aims to make access simple and affordable.
“Accessing DeFi protocols can require expensive network fees and a somewhat complex user experience. Coinbase is right here, making DeFi more user/customer friendly… It does it with just a few taps and does not charge any network fees.”
Coinbase is rolling out the new feature in many countries around the world, with one notable exception.
“Getting DeFi-powered returns with Dai is now available to eligible Coinbase users in over 70 countries, including the UK, Germany, and Spain.
DeFi Yield is currently not available to customers in the United States.”
According to the official Coinbase DeFi returns website, it is based on Ethereum. DAI, the smart contract is deposited on the DeFi platform Compound (COMP), but investors can access their funds without any lock-in period.
Coinbase adds that its annual percentage return (APY) is based on the rates offered by Compound, and the exchange cannot guarantee against potential losses.
Coinbase also says it plans to add additional assets and ways for holders to earn in the future.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.