According to PANews on June 16, Max Branzburg, product manager at Coinbase, cited Dune data and said that to date, Coinbase users have lent more than $400 million USDC through the on-chain mechanism, with an annualized interest rate of about 5%. The lending function has grown rapidly within a few months of its launch. Max mentioned that users are using this function to collateralize BTC and raise funds without reducing their holdings.