imToken is now offering full support for Celo.
Enter Celo, the new and upcoming mobile-first, open-source ecosystem for building a financial system that creates the conditions for prosperity for everyone.
Since Celo is EVM compatible, developers can easily and quickly deploy smart contracts and DApps on Celo. The Byzantine Fault Tolerant (BFT) consensus mechanism combined with the EIP-1559 fee mechanism - to estimate transaction fees more reasonably - brings ease of use, and - compared to Ethereum - Celo has lower fees for on-chain transactions and better network performance (block time of about 5 seconds).
Celo currently has two types of token: The native Celo token (CELO) and the stable coin for payments - Celo USD (cUSD) and Celo Euro (cEUR).
- cUSD is anchored to USD, 1 cUSD = 1 USD. Celo uses an elastic supply mechanism to maintain the value of cUSD stable by adjusting the total supply of cUSD.
- cEUR is anchored to the Euro, 1 cEUR = 1 Euro. The anchoring mechanism is the same as for cUSD.
Celo recently announced the ‘DeFi For The People’ initiative with Aave, Curve, Sushi, PoolTogether, 0x, UMA, Valora, Ubeswap, and Moola Market among its founding partners. Education and infrastructure partners include Chainlink, RabbitHole, The Graph and Wrapped.com.
This new program will offer more than $100 million in educational initiatives, grants, and incentives. The majority of program participants will jointly contribute half the funds for incentive programs.Full product integrations with PoolTogether, Sushi, Moola Market, Ubeswap, and Valora are available now, with more launching soon.
To help you understand Celo better, we prepared a questionnaire. Answer to share some 1000 cUSD.
Event time: 2021/12/17 14:00 - 2021/12/21 18:30 (SGT)
- Answer the questions based on the learning material with above 60 points and follow the imToken and Celo Twitter accounts
- During the campaign period, one 1 lucky user will be awarded 1000 cUSD each day, with the highest scores and then fastest completion of the questions.
- The lucky user prize will last for 4 days and the total prize pool will be 4,000 cUSD.
- Please fill in your imToken’s Ethereum wallet address after completing the quiz.
- The winner list will be announced in the imToken Discord community within 7 business days with the rewards releasing. Join the imToken Discord community.
How can the winner check their cUSD rewards?
- Click on "Ethereum Mainnet" at the top of the imToken asset page and select Celo.
- Click "+" → "Custom Token" on the asset page, enter the cUSD contract address in "Token Contract Address": 0x765DE816845861e75A25fCA122bb6898B8B1282a and save.
- Return to the assets page to see the cUSD reward.