Celo aiming at bringing the DeFi to everyone

Celo aiming at bringing the DeFi to everyone

While Bitcoin is consolidating, it’s altcoins’ time to score new highs, and one coin in particular has been especially popular this week – CELO, the currency of the namesake blockchain.

Celo was conceived as a mobile-first blockchain with a BFT consensus aiming primarily at facilitating payments, but also allowing DApps development on it. Launched in 2017, Celo has gathered over $65M in institutional investment since.

This week Celo announced a $100M funding for grants, education and token rewards from major DeFi protocols, such as Aave, Curve, Sushi and others. Celo is very popular in Africa thanks to its mobile-native nature, and this education initiative would allow millions of people who sometimes don’t even own a computer, to access DeFi and its products.

This is the future of finance, and the markets certainly got the idea: CELO price more than doubled in the beginning of the week, but corrected since to an “only” 31% gain.