Now You Can Earn Rewards on Ubeswap!
Ubeswap — one of the founding partners of DeFi for the People — Rewards are now live!
118,273 CELO is distributed between the most traded pools on Ubeswap — including CELO, mcUSD, mcEUR, and UBE tokens — for the next 90 days, adding to the rewards the pool participants currently receive. This means participants in the mcUSD-CELO and mcEUR-CELO pools will receive an additional 3,680 CELO/week each, while participants in the UBE-CELO pool will receive an additional 1,380 CELO/week, and participants in the rCELO-CELO pool will receive an additional 459 CELO/week!
Ready to get started?
Head over to Ubeswap now to begin earning your rewards!
About CELO, UBE, mcUSD, mcEUR, and rCELO tokens:
CELO is the native asset of the Celo protocol, used in validating, governance, and the Celo Reserve.
UBE is the native asset of the Ubeswap, the Celo-native DEX with about $30mil TVL. UBE is used for pool rewards, trading fees, and governance.
mcUSD is an interest bearing version of Celo Dollar (cUSD) that has been deposited into Moola. cUSD is a stablecoin that tracks the value of the U.S. Dollar.
mcEUR is an interest bearing version of Celo Euro (cEUR) that has been deposited into Moola. cEUR is a stablecoin that tracks the value of the Euro.
rCELO is an interest bearing version of CELO. It automatically earns holders block rewards (~5.1% CELO annually) while providing the holder with greater liquidity than staked CELO which is locked. 1 CELO = about 64,300 rCELO, which votes for the Celo validators who are active with the Rewards Studio. You can read more about rCELO here.
About Ubeswap:
Ubeswap enables decentralized exchange of Celo assets on smartphones. Liquidity providers can earn revenue which is paid for by traders who pay to swap assets through the Ubeswap automated market maker.
About Moola:
Moola Market enables borrowing and lending on smartphones. Owners of Celo Dollars, Celo Euros, and the Celo native asset can earn compound interest by lending to borrowers who pay to take over-collateralized loans in perpetuity or non-collateralized flash loans.
Disclaimer: DeFi is a new technology that comes with risk of loss.
