News31 August 2021

Celo, Sushi, Aave, and Curve, Launch $100 Million Decentralized Finance Initiative

Celo, Sushi, Aave, and Curve $100M Initiative

Summary

· Celo is a "mobile-first" blockchain platform.

· Celo secures $100 million in funding

· Funding for education, grants, and token incentives from DeFi protocols.

Celo is one of the latest blockchain projects interested in availing crypto tools to smartphone users, especially people who have issues accessing banking systems. Users can access flash loans, asset swaps, and investment tools on the Celo platform without needing financial middlemen.

Today, August 31, Celo announced a $100M funding for education, grants, and token rewards from leading DeFi protocols. They also announced the launch of their latest project, dubbed DeFi for the people.

The founding members of this initiative include Aave, Sushi, Curve, 0x, UMA, Ubeswap, Valora, and Moola Market, with Chainlink, Wrapped.com, The Graph, and RabbitHole signing on like education and infrastructure partners.

This project aims to make decentralized finance accessible to billions of smartphone users globally, as it strives to make DeFi accessible to more than 1B people in five years. Aave is offering $20M in tokenized incentives to users accessing the protocol through the mobile platform to sweeten the deal, while Curve is offering $14M in incentives. Sushi is also coming in with a $10M offer for new traders using Celo.

Kibet Elikana
Write a comment