We can now continue to generate impact on CELO together with their native users, who we hope will soon become ethichubbers :). We will have the ability to fund smallholder unbanked producers and use Ethix to strengthen EthicHub's social impact ecosystem.
Dear community, we are ecstatic to announce that we have reached a new milestone in our goal of becoming a multi-chain project. We talked about it, worked on it and finally achieved one of our goals: to bring our social impact proposal to different crypto communities. You know why? Well because, it is impossible to fall in love with what you don't know! It is impossible! And now we have the opportunity for all of you to meet us also in CELO and possibly fall in love with us.
We also believe to have added great value to Celo’s ecosystem. Our values and their interests couldn’t be more aligned and we are happy to become part of the CELO family. You might have gotten a sneak peek of this, if you came to the CELO Connect event in Barcelona or at CryptoCafé where Mons (CELO’s Ambassador) gave a talk.
Our proposal on CELO is identical to our proposal on other chains (Ethereum and Gnosis. CELO native users can now fund EthicHub communities by acquiring MiniMice Bonds with CELO Dollar-cUSD, a stable coin pegged to the US dollar present in CELO.
Our integration in CELO, also implies that its community can acquire the Ethix token and use it to add security - and peace of mind to the platform's investors - to the compensation system. This option allows you to earn an annual return in Ethix by assuming the risk of a possible default. This is already implemented on Ethereum; it constitutes the last layer of security in the ecosystem. That is why we believe that the risk is very limited, because the tokens of the compensation system would enter before.
The collaboration between EthicHub and CELO has received the enthusiastic support of SYMMETRIC, a protocol that operates on top of CELO and Gnosis, offering a Decentralized Exchange-DEX and the possibility to create automated markets-AMM. In order to trade on the DEX and exchange tokens operating on CELO, you can use this link. It is important to check the existing liquidity and certify that there is no large price slippage.
A pool composed of Ethix and CELO is also operational. Currently, participants in this pool are eligible to receive rewards in SYMM and Ethix, by participating in a farm created for this purpose.
We end with a comment from Jori Armbruster, CEO of EthicHub, which sums up very well the mood of the whole team, "we are very grateful for the warm welcome we have received from CELO and excited about the opportunity to develop and continue to add value within this community".
With this new deployment, veteran ethichubbers now have the opportunity to discover and actively participate in a thriving new impact ecosystem. More experienced users also have the possibility to use "bridges" between chains to take their Ethix from one to another. Here is a link to one such bridge operating between Ethereum and CELO.
And here's the evergreen reminder. If you are not sure how to operate, ask! because in this ecosystem mistakes are expensive. And we are fortunate to have a very participative community that solves the doubts in our social networks.
Let's keep going!
Other information of interest.