As the cryptocurrency industry continues growing, the decentralized finance (DeFi) is constantly gaining global adoption. This is when the decentralized finance sector is aiming to make the platform more accessible for common people.
At present, if people wish to interact with the decentralized finance sector, they would need to make the extra effort of doing it through an exchange. This has bound the decentralized finance sector to a certain space targeting tech-savvy people and investors.
This is the reason why the decentralized finance sector is now aiming to expand its services and accessibility across the globe. This is the reason why the decentralized finance sector has acquired the help and support of a mobile-fried dApp named Celo.
The decentralized finance sector wants to drive support from the Celo platform in order to target more customers and users from the real world. The sector is aiming to introduce the decentralized finance sector into the use-cases for the real world.
This is the new initiative that the decentralized finance sector has adopted in order to bring crowds to its platform.
Just recently, some of the major protocols from the decentralized finance sector announced their combined efforts for the exposure of the DeFi sector. These firms have vowed to achieve this with the help of Celo by making a collective investment.
The sources reveal that the DeFi firms such as PoolTogether, Curve, Sushi, and Aave have recently made an investment worth $100 million through Celo.
The announcement around the initiative was made by the firms on Tuesday, August 31, 2021. The firms have revealed that they have named the new initiative “DeFi for the People”. There are several founders that have participated in the particular initiative.
The protocols that contributed towards the foundation of the initiative include Moola Market, Ubeswap, Valora, UMA, 0x, PoolTogether, Sushi, Curve, and Aave. Several other educational protocols have also helped in the foundation of the initiative. These firms include The Graph, Wrapped.com RabbitHole, and Chainlink.
All decentralized finance projects are aiming to make their services and platform available on a global level. The firms have released a unanimous statement in which they have stated that they want to make DeFi platform available for 6 billion smartphone users around the globe.
All of the decentralized finance firms have pooled in their contributions in order to launch different kinds of initiatives through Celo. The platform will be launching initiatives that would include educational initiatives, grants, and incentives.
Celo is already offering several benefits and money-making opportunities to the users. One of the most prominent services is the no-lose lottery pool, which has been launched by the PoolTogether platform via Celo.