What is Celo (@CeloOrg $CELO $cUSD)? πŸ“²

Crypto payments to phone numbers. In 5 tweets πŸ§΅πŸ‘‡
Celo is a smart contract capable blockchain optimized to easily provide access to financial services with the lowest possible entry barriers.

The protocol includes stablecoins, on-chain governance, and uses phone numbers as addresses.
Users can associate their phone number to an address. Others can see they've done that and can send transactions to that phone number without knowing the address.

Phone numbers are not visible on the blockchain, but the repeated use of an address can itself be a privacy issue.
Volatility hinders adoption, so Celo has two tokens:

$CELO - Utility & governance, with a variable price.

Celo Dollar ($cUSD) - Algorithmic stablecoin that uses $CELO to keep the peg. This method is similar to other stablecoins. Anyone can create additional stablecoins.
The smart contract platform is compatible with the #Ethereum Virtual Machine (#EVM), so many developers can already build applications.

The Celo wallet is the first use case. It syncs immediately, even in high latency networks, and the user can pay fees in any token.
$CELO has a fixed supply. Around 25% of that is already in circulation. Some big allocations with different vesting schedules will increase that to >40% in a year.

The consensus is Proof of Stake, and full node operators get paid to provide the infrastructure for light clients.
I'm analyzing crypto projects and concepts in 5 tweets for 50 days straight. Follow @fernando to make sure they show up on your feed. Bonus points for the notification bell.

You can also get them on your email with some extras if you sign up here: getrevue.co/profile/fernan…
Of course, this is not financial advice yada yada yada.

Take care of your money like you take care of your phone.

Except if you are one of those that always lose the phone. If so, be more careful with your money.

β€’ β€’ β€’

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More from @fernando

23 Jun
What is yearn.finance (@iearnfinance $YFI)?

#DeFi yield optimization. In 5 tweets πŸ§΅πŸ‘‡ Image
Yearn Finance is a suite of #DeFi products that provides lending aggregation, yield generation, and insurance on the #Ethereum blockchain.

It launched in 2020 and has more than $3 bn in assets locked.
yVaults are capital pools that obtain a yield from opportunities in the market. Vault strategist & guardian get fees.

By pooling their funds, users share gas costs, benefit from automated processes and rebalancing strategies, and don't need to be proficient in DeFi intricacies.
Read 8 tweets
22 Jun
What is Synthetix (@synthetix_io $SNX)?🦾

Hardcore #DeFi: derivatives on all types of assets on the blockchain. In 5 tweets πŸ§΅πŸ‘‡ Image
Synthetix is a decentralized synthetic asset platform that provides on-chain exposure to fiat currencies, cryptocurrencies, commodities, stocks, and indices.

It opens up endless trading possibilities to people who wouldn't normally have access to trading the tracked asset.
Synthetic assets (Synths) are backed by Synthetix Network Tokens ( $SNX) staked into a smart contract as collateral. The current ratio is 750% and can be changed by governance.

In exchange, Synth stakers get a fixed amount of inflation and fees on the trading of the Synth.
Read 8 tweets
20 Jun
What is Terra (@terra_money & $LUNA)? 🌏 πŸŒ”

Crypto money for users who don't care about crypto. In 5 tweets πŸ§΅πŸ‘‡ Image
Terra is an open and transparent monetary platform built on @cosmos in 2020.

It offers algorithmic #stablecoins & tools to provide users with all they need to manage their money. It's gaining a lot of adoption in Asia-Pacific.

TerraUSD ( $UST) is their biggest stablecoin.
Algorithmic stablecoins are different from centralized ones that hold the equivalent fiat money in reserve (USDT or USDC).

They use automatic mechanisms that maintain the price using arbitrageurs & a 2nd token. Terra uses $LUNA, the network token, to stabilize their stablecoins.
Read 8 tweets

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