Rene on the CELO mission to establish a vibrant DeFi Ecosystem

Rene, Partner at CLabs clarified, Celo is on a mission to bring prosperity to communities around the world, and this won’t be possible without a vibrant DeFi ecosystem. With the launch of DeFi4ThePeople, and more recently the launch of SushiSwap on Celo, DeFi is changing.

The potential of DeFi can only be truly unlocked when the 6B+ mobile phones have access to it at their fingertips. When you think about DeFi being mobile, we want you to think Celo. That’s the future we’re building.

The majority of the world today does not have access to DeFi or the most basic financial tools and services. Communities that stand to benefit the most are the ones locked out of using DeFi. We’re changing that. We’re building for everyone. And it’s already happening.

Don’t just take my word for it, look at the data: >86% of CeloOrg dex ubeswap visits happening from a mobile device.

Let’s simplify Celo’s mobile-first approach: User first with mobile phone PKI. Mobile phone number mapping to public keys. Seamless mobile wallet experience eg Valora App. Unlocking crypto payments via Mobile.

Why Celo? 5s block times, 17000x faster than other blockchains, Availability in low internet speeds And that’s not all, soon™ with Plumo we will see speeds of up to 1 million times faster than other chains.

DeFi is a revolutionary technology that will shape our financial world, but it needs reimagining to provide benefits for everyone around the world. Together with the leading DeFi protocols in the space, we will unleash the benefits to the masses.

The future is looking bright but we cannot do it alone! Join our amazing ecosystem of projects and dApps that are building DeFi on Celo.

Those who want to get started might want to check the dApp gallery that has got some featured examples to help new bie get started.

If you’re convinced about the impact of mobile-first and user-focused DeFi technology, then it’s time to begin harnessing the power of Celo. Luckily for you, our $2.5M hackathon will reward you for building DeFi on Celo. Good to start today.

Community response: The pattern-matching with peak ICO hype is just too hard for me ignore. I know it’s becoming a trope to make this comparison, but that doesn’t make it less true. V bullish on NFTs in the medium to long term. But it’s getting a bit ridiculous at present.

If tooling doesn’t improve, local maxima (pfp animals) will make users burn out and a crash will ensue, just like yield farming did with food coins last summer However NFTs can iterate quicker than DeFi (they’re less protocol heavy and tooling is better than last year)

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