Celo x Clst
Jan 17, 2022
We are happy to have integrated cUSD and cEUR, algorithmic stablecoins, issued by Celo to support unbanked people globally. Effective as of now, marketplace participants can quote and settle cUSD and cEUR over CLST Markets as the underlying asset for short-term debt transactions. Transactions can be executed manually or automatically, depening on the settlement instructions.
How to lend and borrow cUSD or cEUR:
1. Connect your wallet to CLST Markets using the button “Wallet Connect”
In order to connect your wallet, scan the QR code with your mobile phone.
2. Create a quote for cUSD or cEUR
Select the corresponding asset from the list and choose the quoting instrument of choice, such as RFQ, Notice Account or Fixed Date. Define the commercial terms and place the quote.
3. Counterparties accept, counter or reject your quote
The counterparty(ies) can accept, counter or reject your quote. Once confirmed, the transaction will be executed.
4. Settle transaction
After successfully confirming the transaction, cUSD or cEUR will be transferred immediately in a peer-to-peer format.
What is Celo?
Celo’s mission is to create a financial system that works for everyone, including the roughly one out of three people in the world who remain unbanked. The protocol aims to connect people globally, targeting real-world problems like lack of access to sound currency or friction for cash-transfer programs to alleviate poverty.
Celo’s EVM-based structure is designed to build apps that are mobile-first, extending the reach and benefits of decentralized applications on their blockchain to anyone with a smartphone. In addition, Celo empowers cause-based platforms that accept donations with their cUSD and cEUR stablecoins. Celo’s positive impact and blockchain performance has helped forge strong partnerships with top Ethereum-native protocols.
Through collaboration with Aave, Curve, Sushi, PoolTogether, 0x and UMA – as well as Ethereum infrastructure providers such as Chainlink, RabbitHole and The Graph – Celo aims to offer more than $100 million in educational initiatives, grants, and incentives.