Bringing Decentralized Finance to 6 billion people — Nested joins CELO
By participating in the “DeFi for the People” program, Nested is proud to join the CELO ecosystem, one of the most dynamic and advanced Decentralized Finance projects on the mass adoption, user experience and inclusion of populations.
Nested and CELO share a common core of values and agree on the future of DeFi, a future where accessibility, ease of use and transparency will be erected as new global standards, for the benefit of the greatest number.
Towards a Finance by all, and for all
The golden age of Decentralized Finance is being unveiled to the world.
The time has now come for the financial revolution. A soft, inclusive, inevitable revolution. A revolution that will be beneficial to billions of people, from New York to Kinshasa, from Paris to Kathmandu.
And by allowing, with a simple cell phone and an internet connection, borderless and unconstrained access to a range of financial services, the emerging players of DeFi are becoming more than just future leaders of the global economy.
They are also becoming the ambassadors of all those who until now have remained excluded from the great economic maneuvers, far from the decision-making centers, out of sight of financial and banking decision-makers, more concerned with strengthening their dominant positions than with making themselves accessible to the less well-off two thirds of Humanity.
The CELO project is fully in line with this new paradigm, perceiving all the sophistication of the new financial technologies only as levers of influence allowing to invite everyone around the same table. The ambition of CELO is thus of absolute simplicity and sincerity: to place the Decentralized Finance in the hands of everyone so that new financial, monetary and economic models can prosper.
What does CELO offer?
While the CELO project (whose meaning in esperanto means “goal”) finds its roots in a pre-DeFi world (its existence dating back to early 2018), it is since 2020 that the ecosystem has been widely deployed, with the launch of the main network in July 2020.
CELO is often described as the “Venmo of crypto payments,” a flattering comparison, but one that is particularly relevant to the way it works and the ambitions of its services.
In terms of programmability, Celo is similar to Ethereum. Both networks run on the Ethereum Virtual Machine (EVM) to enable the deployment of smart contracts. In addition, all crypto assets evolving on Celo respect an ERC-20 compliant standard, allowing full compatibility on both networks, including for the native CELO crypto-asset, as well as the project’s stablecoin, the Celo Dollar (cUSD).
On the other hand, the CELO network does not suffer from the congestion problems of Vitalik’s creature, and is inspired by its strengths, without replicating its weaknesses. Thus, the CELO network works natively as a PoS (proof of stake) and is capable of very high scalability, while maintaining high performance, all of this for fees below $0.01 per transaction.
But beyond performances that put CELO on the level of the leaders of the sector from a technological point of view, it is clearly its “Mobile-first” approach and its will to offer an immediate and natural access, which positions the project at the forefront of the industry.
5.6 billion humans own, or have an immediate access to, a mobile phone.
This factual observation conditions each of the advances and innovations of CELO. Decentralized Finance must not be satisfied with being passively made available on fixed devices, quickly obsolete, or often under the control of third parties: The DeFi must be transportable, immediate, perpetual and literally work in the user’s pocket, usable at the cost of a simple finger movement and a few fractions of a cent of electrical energy.
User experience is the key
Although Decentralized Finance protocols are often complex, CELO believes that borrowing, lending, and saving funds should never be more complex than ordering a take-out meal or sending an SMS.
A position that conditions the whole operation of the galaxy of services that are available on the network. Services that are becoming more and more numerous, forged by more than 2000 active developers.
Backed by industry giants
CELO is not satisfied simply with serving a noble cause and being driven by humanistic ambitions. Some of the biggest players in the crypto industry have also been quick to see the potential of the project from a strictly economic point of view.
Thus, from Coinbase to the iconic Twitter boss Jack Dorsey, and including Polychain Capital, the startup was quickly surrounded by large oaks.
Nested joins CELO for the “DeFi for the people initiative”
With its leading products for crypto portfolio management in the form of NFTs, its dedicated marketplace and its social trading open to all, Nested shares obvious common values with CELO. Both projects want to make ease of access and simplicity of use guarantees of quality and vectors of massive adoption.
In the same way, Nested, thanks to its unique positioning at the crossroads of the power of Decentralized Finance and the unstoppable trend of NFTs, aims to be present on the smartphones of large populations.
The power and potential of Nested from an investment and savings perspective are obvious. They become even more inevitable once we perceive the colossal gamification potential that the platform promises.
Nested is thus proud to join the “DeFi for the people initiative”, a program endowed with $100M in funding and set up by CELO to collectively contribute to the democratization of the Decentralized Finance.
Through this program, Nested will propose concrete initiatives to ensure that as sophisticated and exclusive as its services may be, everyone can access and benefit from them without any technical, financial or regulatory discrimination.