DeFi or Decentralized Finance is a rage in almost all parts of the world. Many had their reservations when DeFi was launched, but the recent trends have brought in the required support. Presently, the community of DeFi is growing at a fast pace and it will soon be open for smartphone users.
DeFi enthusiasts looking for a solution for the general public, this news is for you. Several leading Ethereum DeFi projects have announced a collaboration for the interest of the general public. The vision is to bring DeFi for six billion smartphones across the globe.
The founding partners of the collaboration are Aave, Sushi, Curve, 0x, PoolTogether, Valora, UMA, Moola Market, and Ubeswap. The collaboration is built on Celo. Alongside, the infrastructure partners are RabbitHole, Chainlink, Wrapped.com, and The Graph. Reportedly, $100 million will be contributed for grants, education initiatives, and incentives.
As per the reports, the fully integrated products with Sushi, PoolTogether, Moola Market, Valora, and Ubeswap are now available. A few more would be launched soon. The rewards for PoolTogether on Celo have already started running. Further, the incentive pools along with other DeFi projects will be announced in the coming months. It is anticipated that by the end of this fall, Optics will roll out. Reportedly, it is a gas-efficient interoperability protocol that can be used for cross-chain communication. This will enable users to move assets between Celo and Ethereum.
DeFi users have been looking for more seamless options and this seems appropriate for them. The collaboration has brought smiles to many faces. It seems to be a big win for the DeFi community.