Today, a coalition of top Ethereum decentralized finance (DeFi) projects announced DeFi for the People, a global initiative to bring DeFi to 60 billion smartphone users worldwide.
Key Partnerships and Incentives
Founding partners include:
- Aave, Curve, Sushi, PoolTogether, 0x, UMA, Valora, Ubeswap, and Moola Market.
- Infrastructure allies: Chainlink, RabbitHole, The Graph, and Wrapped.com.
The program commits $100M+ to education, grants, and rewards, with partners co-funding half of the incentive pools.
👉 Explore Celo’s DeFi integrations
Current and Upcoming Integrations
- Live now: PoolTogether, Sushi, Moola Market, Ubeswap, and Valora.
- Rewards: Celo’s PoolTogether offers a $500K prize pool; others launch soon.
- Optics: A gas-efficient cross-chain protocol (Ethereum ↔ Celo) debuts this fall.
Mobile-First DeFi for Global Adoption
DeFi’s current user base (~5M) skews heavily toward developed nations. Celo’s mobile-first platform (1M+ wallets across 113 countries) bridges this gap by:
- Enabling real-world applications (e.g., microloans for bike purchases in Colombia).
- Reducing barriers for emerging markets.
Project Highlights
- Aave: $20M incentives on Celo.
- Curve: $14M liquidity rewards.
- Sushi: $10M farming rewards.
Builders’ Opportunity: $1M Hackathon
Developers can compete in Celo’s October hackathon for funding to launch DeFi projects.
FAQs
Q: How does PoolTogether work?
A: Users deposit funds for a chance to win prizes—all deposits are refundable, funded by interest earnings.
Q: What makes Celo unique?
A: Its mobile-optimized blockchain targets users with limited banking access.
Q: How can I participate in the hackathon?
A: Details are available on Celo’s official channels.