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6% variable APY on USDC
Aave App referral code: 7601C1. Sign up with this code to get 6% variable APY on USDC.
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At a glance
- What changed
- New USDC incentives that lower the cost of borrowing USDC against Coinbase Tokenized Stocks on Aave V4.
- Who it affects
- Users in eligible jurisdictions outside the US who borrow USDC against tokenized stocks on Base.
- When
- Live as of 2 November 2026; end date not published.
What Aave announced
Aave posted on its official X account on 2 November 2026 that new USDC incentives are live in the Aave V4 Coinbase Tokenized Stocks Hub on Base. According to Aave, the rewards significantly lower the cost of borrowing USDC against tokenized stocks.
Aave did not publish the reward rate, the size of the budget, how long the incentives run or how they are paid out. The post repeats that tokenized stocks are only available in eligible jurisdictions outside the US.
What this means for borrowers
The Coinbase Tokenized Stocks Hub is the Aave V4 market on Base where tokenized shares are posted as collateral and USDC is borrowed against them. We covered how it works, and which stocks it accepts, when it launched; see the related stories below.
Borrowing USDC there means paying interest on the loan. Incentives of this kind pay rewards to borrowers, so the net cost of the loan falls for as long as the rewards run. That is the effect Aave describes in its post.
Our take
Cheaper borrowing is welcome, but incentives are temporary by nature and Aave has not said how large or how long they are. The risk side does not change: if the stock you posted falls far enough, the position can be liquidated. Borrow well below your limit and check the live rate in the Aave app before you rely on it. If you want to hold the USDC you borrow in your own wallet, the Base app and Phantom both support USDC on Base.
BaseDiscount code
10% off eligible swap fees
Base referral code: 2ZTS468P. Sign up with this code to get 10% off eligible swap fees.
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Conditions
New wallets only; enter the code during onboarding. Same-chain swaps and regional eligibility rules apply.
The code and partner link have no expiry. Campaign dates, benefits and eligibility are separate and may change. Check the provider’s current terms before signing up.
