Crypto exchange Coinbase is now offering users a yield who hold MakerDAO’s DAI stablecoin in their accounts.
Announcing the news on Wednesday, Coinbase said DAI holders would receive 2% interest per annum. The rate is subject to change, according to the exchange company.
“We will review the rate regularly over time based on multiple factors, which may include market conditions and customer demand,” a Coinbase spokesperson told The Block.
The DAI rewards are currently available to users from the U.S. (except Hawaii), the U.K., the Netherlands, Spain, France, and Australia. Notably, only Coinbase users are eligible, and not Coinbase Pro users.
"Eligible customers will begin earning rewards automatically once they have $1 of Dai in their Coinbase accounts. Initial rewards will be …