The carbon-negative Layer-1 leads Web3’s regenerative finance (ReFi) movement to offset the world’s carbon footprint.
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.
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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.
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“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
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