News04 September 2021

Leading DeFi Protocols to Collaborate On a $100 Million Adoption Initiative

Leading DeFi Protocols to Collaborate On a $100 Million Adoption Initiative

Summary

  • Leading DeFi protocols launch a $100M DeFiPeople project
  • Funds to go towards education, grants, and incentives
  • The project aims to bring DeFi to mobile users

Several leading decentralized finance protocols have joined hands in a collaborative financial inclusion project. Jointly, the protocols plan to raise $100 million towards the project dubbed DeFiPeople.

Some of the protocols involved in the project include SushiSwap, AAVE, 0x, PoolTogether, and Curve, among others, with Aave, Curve, and Sushi already pledging $20 million, $14 million, and $10 million, respectively.

The supporting protocols will collaborate to provide approximately $100 million in grants, incentives, and educational initiatives. These provisions will bring enlightenment about decentralized finance to people from all over the world.

Build on the Celo Network, the initiative aims to use the decentralized nature of crypto and blockchains to provide decentralized finance to mobile phone users globally.

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