The carbon-negative Layer-1 leads Web3’s regenerative finance (ReFi) movement to offset the world’s carbon footprint.
SAN FRANCISCO--(BUSINESS WIRE)--Following the Uniswap community’s approval to deploy on Celo, the Celo Foundation, along with the Climate Collective, partners and community, launches Uniswap V3 and green-asset pools to help further a regenerative financial (ReFi) system and currencies supported by natural capital on the blockchain. Uniswap’s capital-efficient decentralized exchange brings access and liquidity to the voluntary carbon market, paving the way for Climate Collective partners to begin integrating ‘programmable carbon’ and accelerate climate action.
The Celo Foundation's DeFi for the People initiative has further pledged a total of $10M to support ReFi liquidity to create decentralized financial (DeFi) products and services that promote a regenerative rather than extractive economy, and encourage adoption of the pools on Uniswap V3.
This is Celo’s first phase of #ReFiSummer, a social media movement promoting awareness for regenerative economics while encouraging investors and protocols to meaningfully participate in global voluntary carbon markets. As part of #ReFiSummer, Uniswap users will be able to explore the Celo ecosystem and take climate-positive action over the season-long program.
To kick things off on Uniswap, the Climate Collective and the Celo Foundation will seed liquidity across several pools, beginning with the Moss carbon credit token pool CELO / MCO2 and CELO / wETH. The wETH pair will help users bridge from other EVM-compatible chains to acquire MCO2 and future ReFi assets launching on Celo’s carbon-negative blockchain.
“At Celo, we have always sought to reimagine traditional financial systems with a regenerative approach, by ascribing value to natural capital and recognizing people as unique and connected––the core values from which our foundation was built. With early DeFi protocols maturing, we are proud to galvanize and support builders and partners, from Uniswap to the Climate Collective, as well as the broader community, promoting increased awareness and adoption for ReFi products within our Celo ecosystem and beyond.” – Rene Reinsberg, President, Celo Foundation & Co-Founder, Celo
Celo hopes to strengthen web3’s ReFi ecosystem by:
- Offsetting CO2 with every transaction on its L1, totalling 3,168.4 tons to date
- Creating green asset liquidity pools with natural capital-backed assets such as tokenized carbon credits (e.g. MCO2, GNT, and NCT) and future nature backed assets, like land and forests, circulating on Celo
- Pledging to provide $10M to support ReFi liquidity
- Bringing Uniswap V3’s increased capital efficiency to the 6B smartphone users around the world
- Continuing to use Celo and Uniswap’s decentralized governance processes to increase, if approved, the Mento Reserve with nature-backed assets.
- Fostering pathways for future climate action use cases on Uniswap
About Celo
Celo is a carbon-negative, permissionless, layer-1 protocol with a rich ecosystem of global partners building innovative Web3 applications within the DeFi, ReFi, and NFT sectors on Celo in support of its community’s mission to create a more inclusive global financial system. Accessible to anyone with a mobile phone, the Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack (the Celo Protocol), the CELO token, and several Mento Protocol stable assets (cUSD, cEUR, cREAL) that make it easy for anyone to use crypto like cash or other types of currency —every day. Launched on Earth Day in 2020, the open source Celo mainnet now supports 1000+ projects created by developers and artists located around the world. For more information, please visit Celo.org.
About Uniswap
The Uniswap Protocol is an open-source automated market making protocol that is now the world’s largest decentralized exchange and the market leader for providing liquidity and trading tokens on Ethereum, Polygon, Arbitrum, and Optimism. As a decentralized exchange, the Uniswap Protocol provides deeper liquidity, near-instant settlement, and seamless integration with other protocols. To learn more, visit https://uniswap.org/.
About the Climate Collective
The Climate Collective is a global coalition of organizations building solutions at the intersection of climate and web3. Launched in October 2021, the Climate Collective began as an effort driven by the Celo ecosystem to combat climate change and improve community economies. By accelerating innovative technologies through grant giving, member partnerships, technical advisory, and community education, the Climate Collective promotes the awareness and adoption of regenerative finance (ReFi) to address the world’s systemic problems.
Contacts
Media Contacts
elizabeth.peng@celo.org