The extraordinary welcome received from the CELO community is generating numerous synergies and support from other projects operating on this impact blockchain and in this corner we will keep you informed of all the available options.
Check it from time to time so you don't miss the latest news!
17 August 2022:
A new UBESWAP Farm is launched with weekly rewards of
1000 ethix and 409 UBE (UBESWAP token)!
How to start trading on CELO?
CELO is a blockchain that has its own token, the CELO. And this native token is essential to be able to trade on the blockchain. So if you do not yet have CELO, the first step is to acquire some.
One possibility is through CELO's own wallet, which is called Valora. There you can acquire your first tokens using your credit/debit card. Remember that it is important to save well the seed words that the Valora wallet will generate for you.
Transactions on CELO are extraordinarily cheap. The commissions paid on CELO for each transaction are below one euro cent.
Do you already have CELO tokens?
If you already have your CELO tokens and you are in Valora, you could already trade. But you can also do it from other addresses or public keys. If you are already a crypto-user and you are familiar with Metamask you would only have to give permissions to be able to operate on the Celo network. A widely used website in the ecosystem is Chainlist (dot) org. We leave you here the link but it is always good practice to get to such websites yourself, by typing the address directly in your browser. Using search engines can lead you to the wrong pages and you may regret the consequences later.
I already have the CELO token and I am connected to its Blockchain, what now?Now we are going to show you all the possibilities you have to trade on CELO.
On this Blockchain, you also have the possibility to "stake" your ethix in the clearing system and receive passive returns in ethix. The reward is given because you are taking the risk that they can be liquidated in case of widespread farmer defaults. These staked tokens are the ultimate guarantee of the whole ecosystem and that before resorting to them, all the ethix of the clearing system would have to be executed.
In this link you can access directly to the web but remember that your wallet must be in the CELO network and that you must have some CELO to pay the commissions for interacting with the network.
We present you two Decentralized exchanges - DEX where you can buy and sell all cryptocurrencies that operate on CELO. They are our friends SYMMETRIC and UBESWAP.
In these two DEX there are pools enabled to buy and sell ethix
SYMMETRIC: You can buy ethix if you have CELO.
UBESWAP: You can buy ethix if you have cUSD.
You can also act as a liquidity provider in both pools, adding to the pool the two currencies that operate in the pool.
Pool in SYMMETRIC: You can add liquidity with 80% in ethix and 20% in CELO.
Pool in UBESWAP: You can add liquidity with 50% in ethix and the other 50% in cUSD
(and get UBE-LP cUSD-ETHIX token)
Adding liquidity to the pools automatically creates tokens that will receive part of the commissions of those who operate in the pool, proportional to your participation in the pool.
But if you have these tokens, because you have put liquidity in the pool, we have great news for you because you can put them to work to obtain passive returns for them. This is what we call Farming in the ecosystem. In our case, and keeping in mind our farmers, we could say that we do a double farming ;)
Farming in SYMMETRIC: You receive daily rewards in ethix and SYMM (SYMMETRIC token).
Farming in UBESWAP: Where we have two open farms at your disposal:
In the first one, you can "farm" your UBE-LP cUSD-ETHIX token, and you receive daily rewards in UBE (UBESWAP token).
In the new one, you can farm your UBE-LP cUSD-ETHIX token, and you receive daily rewards in ethix and UBE (UBESWAP token).
And at this point, a sincere thanks to these two DEX in whom we have found a manifest involvement and sincere enthusiasm for what we are building in EthicHub.
As Ethichub is a multi-chain project and we want to take our social impact solution to many other communities, our token must move in each of them. That is why we also tell you that this possibility exists for any user using bridges.
Here we leave you one of them, called Portal Token Bridges, to bring your ethix envelope to any of the three blockchain on which we currently operate: CELO, Ethereum and Gnosis. You can also take other tokens but it is important to see if they are enabled on the destination blockchain and the liquidity of this token on the new blockchain. This is a somewhat complex process for the uninitiated, for many different reasons, so if you are not familiar with the operation, we highly recommend always asking on our RRSS channels before doing something we are not sure about. Remember that we are always available for personal consultations at email@example.com.
In either case, if you have taken your ethix to CELO or you have acquired them directly there, you can also make them available to the clearing system and receive a passive income for it. And you also collaborate to reinforce the security of Ethichub's ecosystem and the trust in small farmers...
Other possibilities on CELO without using the ethix token
CELO has been the second chain where our MiniMice Bonds operate! So you can also finance our farmers' projects using cUSD and pay the transactions to issue the bond in CELOs.
In this article we introduce you to MiniMice Bonds and their features. Currently you have three different possibilities to mint these bonds
- 12 months duration and a return of 9% p.a. in cUSD
- 6 months duration and a return of 7% p.a. in cUSD
- 3 months duration and a return of 6% p.a. cUSD.
Are you ready to mint your first MiniMice? Just click on this link but remember to enable the CELO network in your wallet and have both, celo and sUSD, in your portfolio.