DeFi or decentralized finance is the rage in almost all parts of the world. Many had their objections when DeFi was launched, but recent trends have given the needed support. Currently, the DeFi community is growing rapidly and it will soon be open to smartphone users.
DeFi enthusiasts looking for a solution for the masses, this news is for you. Several major Ethereum DeFi projects have announced collaborations for the benefit of the general public. The vision is to bring DeFi to six billion smartphones worldwide.
The founding partners of the collaboration are Away, Sushi, Curve, 0x, Pool Together, Vlora, UMA, Moola Market and Ubeswap. Collaboration is built on Cello. Additionally, infrastructure partners are Rabbithole, Chainlink, Wrapped.com and The Graph. Reportedly, $100 million will be contributed towards grants, education initiatives and incentives.
As per reports, products that are fully integrated with Sushi, Pool Together, Moola Market, Vlora and Ubeswap are now available. Some more will be launched soon. The prizes for Pool Together on Cello have already started rolling in. In addition, the incentive pool will be announced along with other DeFi projects in the coming months. It is anticipated that by the end of this fall, Optics will be rolling out. Reportedly, it is a gas-efficient interoperability protocol that can be used for cross-chain communication. This will enable users to transfer assets between Celo and Ethereum.
DeFi users are looking for more intuitive alternatives and this one seems suitable for them. The collaboration has brought smiles on many faces. This seems like a huge win for the DeFi community.
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