Celo.eth/acc 🦇 🌳 (@Celo): DeFi Deep Dive: Exploring Celo's Robust Ecosystem

DeFi Deep Dive: Exploring Celo's Robust Ecosystem With 600K+ daily active users (DAUs), all-time-high USDT weekly active users exceeding 2.5M+ last week, monthly stablecoin volume over $20B, and nearly 1B lifetime transactions, the Celo ecosystem continues to reach new heights. As a payments-optimized Ethereum L2 built for billions, Celo’s unique advantages are built for global DeFi transactions, from sub-cent fees & one-block finality to the ability to pay for gas with ERC-20 tokens like USDT & USDC. 🔍Let’s take a look at Celo’s DeFi ecosystem at a glance… DEXs CELO & many of the 25+ native stablecoins are integrated with blue-chip, leading DEXs, including @Uniswap v3, @CurveFinance, @Bancor’s @CarbonDeFixyz, @ubeswap & @velodromefi The community-funded @StabilaFnd is boosting yields across the Celo ecosystem, including its Uniswap v3 campaign w/ @GrowUniswap. Through the @Merkl_xyz incentive program, liquidity providers can earn CELO & UNI rewards, with APYs up to 74% across 23 eligible pools Stabila’s campaign w/ @Velodrome similarly brings boosted APR across 11 pools for veVELO holders, further increased up to 44% for users that prove their humanity & eligibility via @SelfProtocol Lifetime DEX Activity by the Numbers: 🦄49.2 Million Uniswap Transactions 🍠15.3 Million Ubeswap Transactions 💱7.6 Million Mento DEX Transactions 🚴5.3 Million Velodrome Transactions Lending Since launching earlier this year, @Aave v3 has enabled seamless yield farming for holders of Celo-native USDT, ETH & CELO. Strong user activity has pushed supply caps higher, with USDT doubling from 12M to 24M, CELO increasing from 3M to 4.5M, and ETH jumping more than 4x from 500 to 2.2K Through Aave’s partnership w/ @SelfProtocol, users who prove their humanity w/ the privacy-preserving protocol can earn increased yield up to 13% Onchain FX @MentoLabs is bringing forex onchain by tapping Celo’s fast, low-cost transactions & its unique FPMM infrastructure for seamless stablecoin swapping. With 25+ assets spanning major G7 currencies (USD, GBP, JPY, etc.) & longtail currencies like the Kenyan Shilling, Philippine Peso & West African Franc, Mento cuts slippage & arbitrage risk while speeding up currency exchange Through Mento’s recent partnership w/ @Wormhole, the platform is going crosschain to accelerate FX across Web3! Liquidity Management Celo’s integrated ALMs play a critical role in the ecosystem’s mission of bringing accessible, user-friendly financial tools to users throughout the world. @IchiFoundation offers optimized, low-slippage yield on all Celo-native assets & @steerprotocol’s enterprise-grade vaults automate concentrated liquidity for the ecosystem. What’s Next? The community’s mission to bring payments & financial infrastructure to the world’s 6.5B smartphone users is reaching new strides as over 600K users transact on Celo daily. But Celo’s DeFi Flywheel is just taking flight, w/ new integrations & deployments right around the corner 👀⌛ Explore the diverse array of DeFi protocols live today & keep following for updates!