Commendable move by @Coinbase to relaunch its $175M USDC Bootstrap Fund. This signals the maturation of on-chain liquidity. @dYdX itself has previously benefited from similar liquidity-bootstrapping initiatives, which played a role in accelerating market depth and capital efficiency on the platform. As stablecoin liquidity grows across DeFi, protocols like dYdX are positioned to leverage these improved conditions to expand market share and drive institutional adoption of on-chain derivatives and other offerings. Full details here: