Earn Profits by Investing $CELOs on ChurroFi 💰
ChurroFi is an investment & staking platform built on Celo Protocol that provides an effortless way to put CELOs to work & earn profits on the go. All you need to get started is a Celo Wallet and some CELOs in it. Investing CELOs has never been this easy.
Fill me in with Celo Protocol & investing $CELOs ⛓
Celo is an open decentralized platform that enables a monetary system aiming to make it straightforward for anyone with a smartphone anywhere in the world to maintain an account and execute transactions using CELO, the native asset of Celo.
Celo protocol uses an election mechanism in which the CELO Holders can use their CELOs to cast votes for Validator Groups. Voting provides an incentive to CELO Holders. The CELOs used for voting receives rewards (also in the form of CELOs) if the Validator Group they voted for gets elected. CELOs invested in voting automatically compounds, using the new funds to increase their votes for the same group, thereby increasing future rewards.
Sounds great, but why ChurroFi? 💡
Unfortunately, the user experience to participate in elections to invest & earn CELOs is broken. A CELO Holder has to wade through multiple tools to manually analyze expected APYs and other intricacies of voting. This triggers a lack of clarity around rewards and various Celo attributes. The process involves diving into cumbersome & jargon-heavy documentations. If that was not enough, the requirement of using CLI tools locks out a large chunk of the non-technical audience.
ChurroFi
Enters ChurroFi, a low cognitive overhead investing platform that leverages Celo’s voting mechanism. It provides a low-friction interface for the user to perform investments based on their risk preferences and estimate returns. It caters to the need of two vital parties involved in the process of voting: CELO Holders and Validator Groups. Let’s dive into what makes ChurroFi a great investment platform:
Jargon-Free Experience 🤌
ChurroFi is crafted by keeping an average joe in mind. The user-centred design handles all the complex blockchain transactions in the background while instituting an intuitive and seamless user experience. ChurroFi adapts the traditional investment vocabulary. This saves CELO investors from the learning curve of understanding how voting works. All you have to do is create an account on ChurroFi by connecting your wallet, select your investment amount, next ⇒ next ⇒ next ⇒ and done! It’s that simple.
Yield Calculator 🧮
Estimating the ROI is a fundamental need for every investment. The Yield Calculator lets you calculate your APY, monthly earning and yearly earnings before investment. Not just that, you can estimate ROI in both CELOs and US Dollars to gain a better understanding of your investment.
Recommendation Algorithm 🧞♂️
“Which Validator Group should I vote for to get the best ROI?” is a pretty common question for CELO investors. We’ve fabricated a recommendation algorithm that saves your time from manually analysing the best Validator Groups. Our recommendation algorithm suggests a list of best Validator Groups. This list is based on their technical efficiency, probability of getting elected and transparency in terms of their identity. The algorithm updates the recommended Validator Group list in real-time based on various parameters including slashing-score, uptime-score, etc. Thus, if you’re not sure which Validator Group you want to vote just press ‘next’ and we’ve got you covered.
Advance View 💪
The beauty of ChurroFi lies in spoon-feeding a non-technical user to invest, but at the same time NOT restricting an advanced user in exploiting the full potential of Celo’s voting mechanism. Are you well versed with how voting works on Celo and wants to utilize its full capabilities? Just switch to ‘Advanced View’ on the dashboard to access the intricacies of the voting process. ChurroFi dashboard adjusts itself to cater to the needs of users. Instead of simply investing/withdrawing you can access locking/unlocking, voting/unvoting and advanced growth monitoring interfaces.
For Validator Groups 👥
As a Validator Group, one of the most important aspects is to nurture trust with CELO Holders and other Validators. We believe that bridging the gap between CELO Holders and Validator Groups is a necessity for the wholesome growth of the entire Celo protocol. ChurroFi takes a step in this direction by providing a dashboard for the Validator Group. Here, they can log in and build their profile by providing information about them to the participants in the network. Building a profile on ChurroFi will also increase the recommendation algorithm score of that Validator Group. This will increase their chances of getting recommended to CELO Holders. Thereby increasing the number of received votes followed by a higher Epoch-Rewards. Now that’s what we call a sustainable incentive design!
Future Endeavours
ChurroFi platform is currently in its beta phase. We’re onboarding CELO Holders & Validator Groups on the platform along with improving the experience based on feedback. We plan to dive more into investment growth monitoring and information disparity to improve these aspects of the platform in the future.
About Us
ChurroFi platform is built at Buidl Labs 🛠. We’re building infrastructure for the new decentralized world to help humanity get to the future faster.
Contact Us 👋
We’d love to hear from you. Here’s how you can reach us:
- 🌐 Website: churrofi.app | buidllabs.io
- 📧️ Email: saumay@findsignal.studio
- 🐦 Twitter: twitter.com/ChurroFi | twitter.com/buidllabs
- 👾 Discord: discord.gg/WjADWt2E2N
