Gamma Launches on Celo!
We are proud to announce the launch of Gamma on Celo! We are currently managing the following pairs on https://app.gamma.xyz/dashboard.
- CELO-WETH 0.3%
- cUSD-cEUR 0.05%
- cMCO2-CELO 0.3%
- CELO-cUSD 0.3%
- USDC-cUSD 0.01%
Celo is a fully EVM compatible proof-of-stake layer-1 protocol. It has two primary cryptoassets: Celo and Celo Dollars. Celo (CELO) is the protocol’s native asset which serves roles in consensus and payment for on-chain transactions. Celo Dollars (cUSD) is the native dollar-pegged stablecoin which can also be used for payments. Recently, Uniswap has launched on Celo, bringing capital efficiency via its concentrated liquidity AMM to the Celo ecosystem.
More importantly, Celo has established itself as one of the key players in the fight against climate change through its support for products and protocols that progress the Regenerative Finance (“ReFi”) ecosystem. It launched the Climate Collective last October to support projects and founders in the ReFi space.
One of the most popular areas in ReFi is the tokenization of voluntary carbon credit offsets. Traditionally, the main demand driver for these voluntary carbon credit offsets are corporations who choose to lower their emissions due to ESG goals or stakeholder pressure. Regulatory entities such as Verra and The Gold Standard verify and validate projects that remove carbon from the atmosphere and issue a carbon credit for each metric ton of carbon removed. Corporations then purchase these carbon credits via broker-dealers and apply them to their organization to offset the carbon emitted from their operations.
The main issue with the traditional market for carbon credit offsets is the lack of liquidity and transparency when purchasing through a broker-dealer often resulting in paying a significant premium. Automated market makers on the blockchain allow for more transparency and liquidity by allowing tokenized carbon credit offsets to trade permissionlessly and transparently on Uniswap.
Gamma aims to assist projects looking to tokenize carbon credit offsets (i.e. Flow Carbon, Toucan, Moss Carbon, and KlimaDAO) by providing active management of liquidity around the current price on Uniswap to achieve deeper liquidity and lower price impact. Within the past month, Gamma has joined the Celo DeFi Consortium and has been actively consulting with ReFi projects in discussing liquidity management and incentivization via Gamma’s infrastructure.
We are excited to be working with Celo and the Climate Collective to help onboard and advise more projects building on Celo! If you are a builder, developer, or participant in the Celo Ecosystem, please reach out to brian@gammastrategies.org to see how Gamma can help assist you.
