How to Use Mobius — Celo’s Cross-Chain Stablecoin DEX
Celo’s DeFi ecosystem is rapidly growing. The project is now even more geared toward unlocking new opportunities for both developers and users. One of these avenues for opportunity and, ultimately, growth is Mobius, a Celo-native decentralized, cross-chain exchange for stablecoins.
Mobius is designed to enable users to easily trade assets of similar value, including cUSD-USDC and even cBTC-wBTC, without worrying about high fees or slippage. This is possible thanks to multiple price-stable pools, each with its own parameters. Since each pool has custom parameters, its utility goes beyond swaps of similarly valued assets. This functionality enables swaps between different stable assets, like cUSD-cEUR (Celo Dollar and Celo Euro), acting as a foreign exchange alternative. Pools offered include CELO, cUSD, wETH (wrapped Ethereum), and wBTC (wrapped Bitcoin), as well as a wide range of other popular assets.
Mobius also enables users to contribute liquidity to the platform to earn a portion of fees.
Getting Started as a Liquidity Provider
Step 1: Connect your wallet
Visit mobius.money and click on the ‘Connect to a Wallet’ button at the bottom of your screen to connect to the wallet of your choice.
Step 2: Proceed to Mobius’ Pool interface
Step 3: Pool selection
Choose the pool you want to deposit your assets into — USDC (Optics), for example.
Step 4: Deposit funds to the pool
Enter the deposit amount of each token. Make sure they are of equal value.
Step 5: Confirm deposit
From your wallet, confirm the deposit.
You are now a liquidity provider! Your assets will be used to improve the overall liquidity of the pool, and you can now start earning your portion of the pool’s trading fees.
Stablecoin Minting
Mobius also makes it easy to mint new stablecoins that you can spend, save, deposit into a Mobius liquidity pool, and more. Follow the instructions below.
Step 1: Visit mobius.money and select ‘Mint’ from the dropdown menu.
Step 2: Deposit CELO to get either cEUR or cUSD.
Once in hand, send your stable asset to friends, spend it on purchases, or swap it for similarly priced assets. You can also participate in a decentralized alternative to a foreign exchange, become a liquidity provider, and earn rewards. Mobius is a powerful and efficient platform for the Celo ecosystem.
Explore mobius.money to experience the power of DeFi on Celo.
