SushiSwap (SUSHI) to bring DeFi to over 6 billion smartphones through a new initiative

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Oct 14, 2021
  • SushiSwap announced a new team-up with Celo to participate in a new initiative.
  • The initiative is called DeFi for the People, and its goal is to bring DeFi to over 6 billion smartphones.
  • The partnership is being celebrated by committing$12.6 million in initial joint liquidity mining rewards.

SushiSwap (SUSHI/USD) recently took to Twitter to announce its brand new partnership, this time with Celo’s DeFi for the People initiative. By teaming up with the initiative, SushiSwap hopes to help in bringing DeFi to every smartphone in the world.

Furthermore, the Celo community joined Sushi in announcing a $12.6 million in initial joint liquidity mining rewards in both, SUSHI and CELO.

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The partnership between these two entities has great potential, as it could truly make DeFi a lot more accessible for everyone in the world. Celo, of course, has its mobile-first, user-friendly focus. Meanwhile, SushiSwap is an expert in DeFi and other related products. By combining their strengths, they can help serve the people and their needs for financial inclusion.

Sushi users themselves will benefit from Celo thanks to faster transaction speeds and lower transaction fees, thanks to Ethereum-compatible transactions on Celo’s Proof-of-Stake network.

$12.6 million in mining rewards are awaiting users

As mentioned, the two plan to celebrate the launch of the initiative by committing $12.6 million in initial joint liquidity mining rewards. The rewards will be granted for specific pairs, including WETH/CELO, WETH/cUSD, WETH/cEUR, and cEUR/cUSD, with more pairs expected to be added soon. The pairs are going love today, at 4 pm ET.

Once they are live, users can just go to SushiSwap, connect their MetaMask, choose the Celo network, and start earning rewards. Sushi was also kind enough to provide a tutorial on how to get to the rewards as quickly as possible.

Finally, Sushi also announced that the Optic token bridge is now live across Ethereum, Celo, as well as Polygon, allowing users to bridge assets from Polygon to Celo without routing through the mainnet.

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