Celo’s key differentiator is to make financial instruments and global digital payments accessible to everyone who uses crypto. It focuses on making crypto mobile and usable by taking a user-centric approach to platform design and innovation.
Celo maps phone numbers to wallet addresses using a novel decentralized address-based identity layer. Mobile participants can earn rewards for securing and maintaining the system.
As of April 2020, the network is EVM-compatible, allowing for the creation of smart contracts and decentralized apps (DApps) as part of DeFi.
“Celo’s technology powers more than 1000 projects from builders, developers and even artists launching new applications every day and issuing digital currencies from anywhere in the world for use by anyone in the world with a desktop computer or mobile phone. ‘ — from the Celo Quick Start Guide
It is a stability mechanism that ensures the healthy speed of stablecoins settled on Celo: cUSD and cEUR.
Both stablecoins are backed by the Celo reserve celoreserve.org, which is composed of BTC, ETH, CELO, and DAI.
With the Celo, you can conveniently share assets directly on mobile phones for just $0.01 with almost anyone worldwide.
It replaces using Ethereum proof of work to securely add transactions to the ledger with a Byzantine Fault Tolerance consensus algorithm. And it creates a new permissionless ramp by incentivizing full nodes to serve mobile devices.
There are two types of nodes on the Celo network: validator nodes and full nodes.
Validator nodes maintain consensus with the help of voting by the full nodes. Users interact with light clients, which in turn interact with full nodes, which in turn interact with validator nodes.
The open-source Celo app embeds a “light client” that connects to the network and is optimized for low-power devices and low-bandwidth connections. These light clients require nodes that answer their requests for account and transaction data and relay new transactions on their behalf.
Ethereum currently has few incentives to run a non-mining full node. Few nodes serve light clients, resulting in poor mobile wallet experience.
So Celo designed a protocol to encourage users to run regular nodes. At Celo, light clients pay a fee per transaction to full nodes. With each transaction, customers provide the address of a node that receives this fee when the transaction is processed. Full nodes advertise a minimum fee and may refuse to process transactions for which they do not receive the fee or which they deem insufficient.
Read more here: https://medium.com/celoorg/consensus-and-proof-of-stake-in-the-celo-protocol-3ff8eee331f6.
- Celo’s native asset is the core supply, reserve, staking and governance asset.
- CELO has a fixed supply and variable value related to platform usage, governance and the amount of stablecoins used.
- Even dollars (cUSD).
- Even euros (cEUR).
- Can be used to pay gas fees.
- Celo’s groundbreaking stability mechanism (Mento), CELO, enables platform-native stablecoins such as Celo Dollars (cUSD) and Celo Euros (cEUR) to algorithmically follow the value of their eponymous currencies.
UB
MOBI
MOLA
View more Celo tokens:
https://defillama.com/chain/Celo
https://explorer.celo.org/tokens
https://www.coingecko.com/en?asset_platform_id=celo
You can work with native Celo wallets or use Celo compatible wallets.
📲 Rate
The app works on iOS and Android. With Valora, money can be sent to practically any cell phone number in the world and works with any smartphone, even with a low internet connection.
More details: https://valoraapp.com/
🖥 Even a wallet
It is a desktop wallet that supports web, macOS, Linux and Windows. The wallet works in tandem with the ledger and supports Celo’s core features such as payments, exchanges, staking and governance. More details: https://celowallet.app/
🖥 Even terminals
Desktop wallet and DApp platform. Supports macOS, Linux, Windows and works with Ledger. More details: celoterminal.com
🖥 Celo expansion wallet
It’s a fork of Metamask for the Celo network. Support Chrome Browser. and works with ledger. More details: chrome.google.com/webstore
📲 Steak wallet
Wallet without custody, multi-chain staking. The app works on iOS and Android. More details: https://steakwallet.fi/
You can connect them MetaMask Wallet to the Celo network. Step-by-step instructions can be found here:
https://docs.celo.org/getting-started/wallets/using-metamask-with-celo
Information on other compatible wallets can be found here: https://docs.celo.org/getting-started/wallets
💡 A little tip! If you open Allbridge.io and select the CELO network, you can automatically add the Celo network to your Metamask wallet. Just follow our guide: https://www.youtube.com/watch?v=2jbee0_HmAU
You can bridge tokens to Celo.
You can use the following bridges for this:
- Allbridge.io
- Optics v2
- moss
Additionally, Celo recently launched a $10 million bridging incentive to invite more users to join their ecosystem. Learn more: https://twitter.com/CeloOrg/status/1466899503492079620
- SushiSwap: https://app.sushi.com/swap
- Chin-Fi: https://mento.finance/
- UbeSwap: https://ubeswap.org
- Mobius Money: https://www.mobius.money
DEX
https://app.ubeswap.org/#/farm
https://docs.ubeswap.org/
Ubeswap is a decentralized exchange, which means you can interact directly with the exchange through a wallet whose private keys you control. Ubeswap is a mobile-friendly fork of Uniswap running on the Celo blockchain.
DEX
https://app.sushi.com/farm
https://docs.sushi.com/products/amm-exchange
SushiSwap allows users to trade trustlessly peer-to-peer with liquidity provided by other users. You can farm CELO/WETH.
Money Market Protocol
https://app.moola.market/#/
https://docs.moola.market/
Moola is a non-custodial liquidity protocol built on the Celo blockchain that democratizes access to yield and credit. Depositors earn returns paid by borrowers who are able to take out overcollateralized permanent loans or undercollateralized flash loans.
Earn CELO, cUSD and cEUR returns from deposits Moola Market.
Stable Swap DEX
https://www.mobius.money/#/pool
https://medium.com/@mobiusmoney/introducing-mobius-celos-first-cross-chain-stableswap-exchange-54ef17c23eca
Mobius is an Automated Market Maker (AMM) based on the StableSwap and CurveCrypto invariant, specializing in low-slippage swaps between price-stable and interest-bearing pairs, such as e.g. g. liquid staking tokens.
Yield Optimizer Platform
https://app.beefy.finance/#/celo
https://docs.beefy.finance/moo/
It is a multi-chain decentralized yield optimization platform that allows its users to earn compound interest on their crypto holdings. Through a series of investment strategies secured and enforced through smart contracts, Beefy Finance automatically maximizes user rewards from various liquidity pools (LPs), Automated Market Making (AMM) projects and other yield farming opportunities in the DeFi ecosystem.
Yield Farming Aggregator
https://autofarm.network/celo/
https://autofarm-network.medium.com/autofarm-integrates-with-celo-666040c8afc7
AutoFarm is a yield farming aggregator running on Binance Smart Chain (BSC), Polygon Chain (MATIC), Huobi ECO Chain (HECO), Avalanche (AVAX), Fantom (FTM) and Moonriver (MOVR). The DApp (Decentralized Application) was developed with the aim of optimizing DeFi (Decentralized Finance) users’ earnings when they interact with the other DApps in the DeFi space.
Celo DApp gallery
https://docs.celo.org/developer-guide/celo-dapp-gallery
DeFi Flame
https://defillama.com/chain/Celo
We recommend using our step-by-step guides:
How to farm SOL/CELO on Ubeswap?
How to farm cUSD/asUSDC on Mobius?
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
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