Infrastructure

Coinbase IBC Forwarding for Noble USDC

Funded

Project link

Funding amount

$250,000

Start date

February 2024

Execution

4 months

Team

Coinbase

Description

This grant will fund support for a Coinbase IBC forwarding integration that will allow users to transfer directly between Coinbase accounts and dYdX accounts. Instead of first withdrawing funds to Noble and then depositing to dYdX, Coinbase users will be able to select dYdX as a destination chain and directly credit their dYdX Chain accounts.

Purpose

Through this direct integration, we hope to improve the onboarding flow for Coinbase users, especially institutional ones, wanting to trade on dYdX. Making dYdX an official destination should encourge more users to deposit and test the venue, or improve the amount funds deposited from existing users. Overall, our purpose is to increase the number of deposits and onboard new users with this integration.

Payment structure

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Impact & Metrics

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