Coinbase Earn, a retail-focused tool for blockchain education, has quickly gained traction due to its six courses on some of the most commonly known utility tokens on the market. By combining an engaging UX with an opportunity to earn value in the form of the currencies being presented, many users in the space have pointed to these campaigns as one of the most positive progressions for mass adoption.
This week, Coinbase Earn is back with it’s most well-received course to date. After releasing a $6 questionnaire educating users on the basics of the DAI stablecoin last month, Coinbase took this course a step further by allowing users to earn an additional $14 in DAI for opening a Collateralized Debt Position (CDP) through MakerDAO.
At the time of writing, the active number of CDPs has been skyrocketing with over 1720% growth from last month, bringing the new total number of CDPs to around ~27,000.
Best of all, this unique tutorial takes the complication out of the process by walking users through a few simple steps. First and foremost, this campaign leverages Coinbase Wallet which displays significant progress in mobile wallet capabilities. After linking the wallet to your Coinbase account, the course prompts Coinbase to send each user 0.02ETH to get started.
Once you’ve received your ETH, the course directs users directly to Maker’s CDP portal (directly in-app via the Dapp browser) with detailed steps on how to proceed. Now, while all CDP’s created through this course are only staking a measly 0.006ETH in order to mint $0.06 worth of DAI, it’s the process that counts.
Once the CDP has been created, users automatically earn $14 worth of DAI which is immediately available in their Coinbase account.
As mentioned above, this course has easily gained the most positive sentiment from the community at large. With DAI playing such a crucial role in the DeFi ecosystem as a whole, this course provides a solid introduction to the sector’s largest player. Moving forward, we can expect Coinbase to continue to leverage its mobile wallet to offer more rewards for tutorials and actions within the DeFi sector.
Cooper is the Editor of DeFi Rate and a contributor to leading DeFi outlets like the Defiant and Bankless. He is active in the DAO ecosystem through projects like MetaCartel and Raid Guild where he seeks to incubate governance models and grassroots community development. He is an ambassador of Set Protocol and the Director of Fitzner Blockchain Consulting where he authors a weekly publication called Token Tuesdays. To stay up with Cooper, follow him on Twitter.