Sushi Launches Celo “DeFi for the People” with $12.6M rewards!!
SushiSwap, is proud to partner with Celo’s DeFi for the People initiative, to bring the promise of DeFi to more than 6 billion smartphone users around the world. The Celo community joins Sushi in announcing $12.6M in initial joint liquidity mining rewards in both CELO and SUSHI. By combining Celo’s mobile-first and user-friendly focus with Sushi’s DeFi expertise and suite of products, access to DeFi can be expanded to serve real people with real needs. This is the true benefit of crypto and DeFi, and the early days of growing this movement.
With Celo, Sushi users can benefit from faster transaction speed, lower fees through secure and Ethereum-compatible transactions on Celo’s Proof-of-Stake (PoS) network. In addition to growing Sushi’s multichain family, Celo also provides Sushi users access to Celo assets‚ particularly Celo’s native stable assets, a phone number to address mapping system, and a seamless mobile user experience. Access to Celo’s mobile-first user base and ability to leverage networks in emerging markets, will help Sushi expand to new users and increase adoption.
Rewards through liquidity pools are going live at 4 pm ET on 10/14!
To celebrate the launch, Celo Foundation and Sushi have committed $12.6M in initial joint liquidity mining rewards in both $CELO and $SUSHI. The rewards for the following pairs will go live at 4 pm ET on 10/14! At that time, please go to SushiSwap, connect to MetaMask wallet, choose the Celo network and start to earn rewards! To learn how to use Sushi on Celo and trade Celo assets with Sushi products, please see this tutorial.
- WETH / CELO
- WETH / cUSD
- WETH / cEUR
- cEUR / cUSD
More pairs will be added soon 👀
The Optics token bridge is live!
Optics, a new protocol for gas-efficient and trust-minimized interoperability now allowing Sushi users to bridge assets with confidence. Optics core contracts and token bridge contracts have been deployed on Celo, Ethereum, and Polygon mainnets. Sushi users can now move from Polygon to Celo without having to go through Ethereum. Sushi will be one of the flagship apps using Optics for bridging. Learn how to use Optics here: link .You can bridge your assets via Optics now: link
“We are excited about our Celo deployment because Celo offers BLS-precompiles, as well as permissionless Optics bridges to move assets across easily. The Sushi AMM, Kashi lending, and other BentoBox products provide the necessary primitives that users around the world need in order to be connected to a global and permissionless financial system. By leveraging Celo’s mobile-first product suite and UX that expands reach beyond only crypto-natives, Sushi can drive this mission forward and take DeFi to the next frontier,” said Joseph Delong, CTO at Sushi.
“Celo’s mission is to create conditions of financial prosperity for people around the world. Sushi coming to Celo is exciting news for the community — this will increase access to permissionless financial products that anyone can access from their mobile device,” said Rene Reinsberg, Celo co-founder.
Celo is a mobile-first, open-source ecosystem of technologies, organizations and individuals that all share a common mission of building a financial system that creates the conditions for prosperity for everyone. The Celo ecosystem includes a decentralized, proof-of-stake blockchain technology stack (Celo Platform), a native asset (CELO), stablecoins (cUSD, cEUR), and the Celo Alliance for Prosperity, with over 150 organizations around the world, including Deutsche Telekom, Opera, Andreessen Horowitz, Anchorage, Coinbase, GSMA, Grameen Foundation, Prosegur, Abra, and cLabs, a service organization dedicated to growing and developing the Celo ecosystem. For more information, please visit: celo.org
Sushi is a community-driven organization built to solve what might be called the “liquidity problem.” Sushi’s progress is intended to create a broader range of network effects. Rather than limiting itself to a single solution, Sushi intertwines many decentralized markets and instruments. Thus far, the core products, which will be described in more detail here, include a decentralized exchange, a decentralized lending market, yield instruments, and staking derivatives.
Sushi is building a comprehensive DeFi ecosystem with AMM, leverage & margin trading platform, token launchpad and NFT artist platform. Follow our socials to keep up with our product launches and find out more on how you can make the most of your cryptocurrency assets with Sushi’s secure and powerful DeFi tools!