Celo: Launches $100m fund to support DeFi adoption
- Celo is a mobile-first blockchain optimized for peer-to-peer payments using only a mobile number
- A consortium of leading Ethereum decentralized finance (DeFi) protocols and projects announced DeFi for the People
- The new initiative counts Aave, Curve, Sushi, PoolTogether, 0x, UMA, Valora, Ubeswap, and Moola Market among its founding partners
- This new program will offer more than $100 million in educational initiatives, grants, and incentives
- The majority of program participants will jointly contribute half the funds for incentive program
- DeFi has experienced explosive growth in recent years, but has yet to gain widespread adoption
