Coinbase launches Dai Rewards - peg will need more help

Today, we’re introducing Dai Rewards, with 2% APY* for customers in the US, UK, Netherlands, Spain, France, and Australia. With yields on savings accounts and government bonds at record lows, earning rewards on stablecoins like Dai and USDC stands out as an alternative way to passively generate income using crypto held on Coinbase.

I assume they are trying to compete with DeFi systems for deposits. I would expect other centralized exchanges to follow suit.

We’re going to need more DAI.