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Onchain Alpha: Celo — Layer3

February 29, 2024
in Web3
Reading Time: 4 mins read
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CUBEs at the moment are dwell on Celo’s mobile-first, EVM chain. Discover main dapps to assert your credential (with lightspeed, low price transactions).

What’s Celo?

Celo is presently a Layer 1 chain with a grand imaginative and prescient: to make sending funds as straightforward as sending a textual content, to anybody with an web connection the world over. Celo’s mobile-first platform is seamlessly EVM-compatible, with plans emigrate to an Ethereum L2 quickly.

Like Ethereum, you may bridge, swap, mint, and uncover on Celo. Nevertheless, with extraordinarily low charges and lightspeed transactions, you may unlock new apps in addition to favorites like Uniswap. CUBEs, the important thing to the Layer3 financial system, at the moment are dwell on Celo’s extremely environment friendly chain.

Bridge to Celo by way of Squid

What’s one of the best ways to get began on Celo? You may seamlessly switch funds to Celo by way of Squid’s cross-chain portal.

Swap tokens with Uniswap v3 on Celo

As the following step in your Celo journey, you may simply commerce your favourite tokens on Uniswap v3. With over $35M in TVL as of February 2024, it is among the hottest dapps on Celo. Acquire your first CUBE on Celo by buying and selling on Uniswap v3.

The Way forward for Celo

At this time, Celo persistently ranks among the many high chains by day by day energetic addresses. Its scaling resolution has facilitated over 350 million transactions for a median gasoline price of $0.0005. With 5-second block occasions, Celo is a frontrunner for lightspeed, low price, Ethereum-compatible exercise.

In July 2023, Celo introduced its plan to fully transition to a Layer 2 chain on Ethereum. Competitors has been heated — with technical pitches made by Arbitrum, zkSync, and Polygon builders. Celo’s neighborhood is presently evaluating which blockchain stack it would migrate to (and can seemingly share its subsequent steps quickly).

With Layer3 as your gateway, you can begin exploring Celo’s vibrant ecosystem in the present day. Over the following few weeks, you may uncover new Quests to gather CUBEs, earn XP, and declare limited-edition NFTs on the Celo Brick Highway.

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Tags: AlphaCeloLayer3Onchain
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