Structured Deposits on Uniswap v3 are coming to Celo!
Today we are pleased to announce the launch of Cargo! Instructions can be found below…
Currently, the world’s largest decentralised exchange (DEX) in trade volume has launched on Celo! Uniswap is the leading DEX allowing DeFi to automate markets by replacing middle-people with investors.
“In DeFi, anyone can provide liquidity and be a market maker earning trade fees for participating.”
Uniswap v3 is designed for deep liquidity through concentrated ranges with increased capital efficiency allowing for the fine-tuned control of custom positions. This gives users the ability to earn higher yields on specific price-ranges rather than the whole price-curve.
Take the example of a sandbox. The pit would be the market, the sand would be the LPs, the bucket would be v3 and the handle would be the rebalancer. The bucket contains large amounts of sand, giving it height and a place in the pit. The bucket of sand can be moved to different areas and transferred to a smaller or larger bucket to build the ideal sandcastle (liquidity position).
So far, Uniswap v3 trading fees have surpassed both ETH and BTC, and now will be available on Celo; one of the most mission-driven blockchains in web3 with a strong purpose-led community.
Cargo
Cargo puts Uniswap v3 awesomeness into automated strategies needed to keep investment within active market ranges. Being non-custodial meaning you can actively track how assets are invested in markets and can withdraw your deposits at anytime. Working with Celo allows us to directly work with impactful ventures and pools to connect humans to meaningful communities.
How you use it
The user connects their wallet, currently we support Metamask, Valora (via WalletConnect) or Coinbase; which allow for frictionless fiat entry/exit. Then, select a pool to invest in and deposit the pairs. If you do not have a matching pair, all you need to do is swap directly via Uniswap v3, the rest is automated. This will be automated and integrated into Structured Deposits later as a part of our roadmap.
APY is calculated according to future earnings based on previously collected trading fees collected across a 10% range (and moving) in either direction. Rewards are reinvested automatically to compound interest.
If you’re interested to know more about Cargo, come and chat with us on Discord.
ReFi summer is here
Crypto draws passionate humans to solve and implement new ways of working in the world. We are beginning to conduct research on how LPs work with nature-backed currencies such as MC02, Toucan, and Flow Carbon, all part of ReFi’s summer.
At a high level, money “reflects and magnifies what we humans are like.” — Niall Ferguson — and rather than focusing just on a market position, we encourage everyone to be human and participate in the world by supporting communities that are a part of our ecology.
