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Public blockchain Celo announced that Uniswap V3 has been deployed on its network. The Celo Foundation and Climate Collective will provide liquidity to facilitate the exchange of assets on Uniswap. The first pool will be the Moss carbon credit token pool CELO/MCO2.
Uniswap V3 Deployed On Celo
According to a press release from today, the Celo Foundation, along with the Climate Collective, partners and community, launches Uniswap V3 and green-asset pools to help propel a regenerative financial (ReFi) system and currencies supported by natural capital on the blockchain. Uniswap will bring access and liquidity to the voluntary carbon market, paving the way for Climate Collective partners to begin integrating 'programmable carbon' and accelerate climate action. To kick things off on Uniswap, the Climate Collective and the Celo Foundation will seed liquidity across several pools, beginning with the Moss carbon credit token pool CELO/MCO2 and CELO/wETH. The wETH pair will help users bridge from other EVM-compatible chains to acquire MCO2 and future ReFi assets launching on Celo's carbon-negative blockchain. Commenting on the development, Rene Reinsberg, President, Celo Foundation & Co-Founder, Celo, said:
"With early DeFi protocols maturing, we are proud to galvanize and support builders and partners, from Uniswap to the Climate Collective, as well as the broader community, promoting increased awareness and adoption for ReFi products within our Celo ecosystem and beyond."
Capital-Efficient ReFi Accelerator
With Uniswap being deployed on Celo, the latter aims to strengthen Web3's ReFi ecosystem by offsetting CO2 with every transaction on its L1. It also wants to foster pathways for future climate action use cases on Uniswap. Additionally, it wants to pledge to provide $10 million to support ReFi liquidity while bringing Uniswap V3's increased capital efficiency to the 6 billion smartphone users around the world.