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USDC Rewards in CDP Wallets

Eligible developers earn 4.1% rewards on their USDC simply by holding it in CDP Wallets. Currently, rewards are available to US-based individuals who maintain an average daily balance of at least 500 USDC over the course of a month in their CDP Wallets. Rewards are paid in USDC the following month to the developer’s Coinbase (Retail) account. We are working to expand USDC Rewards to additional geographies, and to businesses. If you are interested in these features, please reach out to us #wallet-api channel of the CDP Discord.
To receive USDC Rewards, you need to have had some USDC balance in your Coinbase (Retail) account in the past.

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USDC Rewards program details

  • USDC Rewards is a loyalty program funded by Coinbase. It’s a reward for using Coinbase services to store USDC.
  • Onchain USDC rewards are available for balances held in CDP Wallets on any supported network.
  • Coinbase has no right to use any USDC in your CDP Wallet.
  • We reserve the right to change or discontinue USDC Rewards at any time by reasonable means of notice.
  • USDC Rewards are intended for the developer, and may not be marketed toward or used to incentivize a developer’s end-users.

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Tax reporting considerations

Tax rules and reporting rules differ from country to country. Users outside of the US should consult their tax advisor for the most up to date information. U.S. customers that are subject to US tax reporting are required to report their earnings from USDC Rewards. US customers who earn more than $600 in USDC rewards will receive a 1099-MISC from Coinbase. You can learn more about the 1099-MISC on the IRS official website.