DeFi for the People launch partner Sushi, a DeFi platform that facilitates trading, lending, and earning yield, has announced that liquidity pools went live on Celo on Thursday 10/14 at 4pm ET/ 8pm UTC. To start, both the Celo Foundation and Sushi have committed $12.6 million in initial joint liquidity mining rewards in $CELO and $SUSHI.
Sushi’s DeFi expertise and suite of products naturally tie in with DeFi for the People’s mission to bring the benefits of DeFi to anyone with a mobile phone. Combined with Celo’s mobile-first and user-friendly approach, we see an even greater opportunity to expand access to DeFi for non-crypto natives with real-world needs.
Sushi’s availability on Celo offers the benefit of faster transaction speeds and lower fees through secure and Ethereum-compatible transactions on Celo’s Proof-of-Stake (PoS) network. In addition to growing Sushi’s multichain family, Sushi users also have access to Celo assets — including Celo’s native stable assets — and a phone number to address mapping system, all with a seamless mobile user experience.
Optics allows simple, gas-efficient, and trust-minimized bridging across any smart-contract execution environment. This includes Celo, Ethereum, Polygon, Optimism, and any other roll-ups that support smart contracts and seamlessly connect environments directly. For example, users can move from Polygon to Celo without having to go through the Ethereum mainnet.
Currently, users can bridge tokens from Ethereum to Celo by interacting with Optics here. For a visual walk-through for using the Optics GUI, visit here.