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.