Top 3 DEX on Celo With Massive Potential on 2022

April 22, 2022 - Around 9 mins mins to read

Celo was created with the goal of making financial instruments borderless, simple to use, and accessible to everyone. It has already achieved some success and is moving further. Building a private ecosystem on its platform is in line with the mission of “DeFi for the People.”

We looked throughout the Celo ecosystem for this article and chose the top three projects that we find most fascinating right now. So let’s get started.

Ubeswap

Ubeswap is the first Celo native DEX, with all of the Celo protocol’s features, including mobile-first DeFi, created for an AMM (Auto market maker) platform. Ubeswap allows Celo users and applications to trading between any two ERC-20 tokens at its core. Ubeswap debuted in February 2021 and has quickly risen to become the Celo ecosystem’s premier DEX platform, with over $35 million TVL (Total Value Locked) in just a few months.
The marketplace regularly trades Celo protocol assets such as CELO and cUSD, as well as community assets such as MOO and UBE. Before the cEUR stablecoin was published on controlled exchanges, Ubeswap played a crucial role in providing early liquidity for it.

Outstanding Features of Ubeswap

Other AMMs prioritize building the online platform first, and while top-tier AMM projects currently lack mobile apps, Celo chooses to build apps for use on mobile devices first.

However, mobile app advantages do not mean just for mobile devices. Ubeswap also works with the Celo Chrome Extension and directly supports the Ledger hardware wallet. Ubeswap can now be utilized on the web.

In addition, Ubeswap has a structure quite similar to Uniswap V2, including features such as:

Swapping: Most exchanges constructed according to the current AMM Dex architecture have this as a basic function. In a nutshell, you can swap (swap) any token on the exchange.
Providing Liquidity: A decentralized exchange’s main mechanism is to provide liquidity. The charge for increasing liquidity is 0.3%, which is in accordance with many users’ strategies for generating passive income. Users will be able to obtain a form of LP Token as a result of the liquidity provided, and they will be able to engage in the Yield farming method to earn extra earnings.
Yield Farming: Yield farming is a method for LPers to maximize their wealth. Users will lock token pairings to earn LP Tokens, which they will then transfer to the exchange’s Farming Pools to yield. Users who participate in the Farming method will obtain equivalent tokens, which may be used to boost profits if desired.
Bridge: This is a special feature that is usually not available on DEXs. Ubeswap integrates bridges onto the protocol to optimize user experience when using Ubeswap’s DEX.
Limit Order: A System enables users to trade assets at fixed prices. This is the first system in Celo that efficiently allows for large trades. It is also the first limit order system that prioritizes fulfiller agents which in turn ensures that users’ orders are filled in a timely fashion

UBE Token Use Case

UBE token has only two main features:

Governance voting for protocol decisions making.
Staking receives transaction fees

You can update the price of UBE Token onCoincu.comright at:CLICK HERE

Mobius Money

Mobius is a stablecoin DEX platform developed on Celo’s Blockchain with the original goal of establishing a decentralized exchange based on the AMM (Automated Market Maker) Dex protocol and the Curve Finance mechanism on Ethereum.
Smart contracts on Mobius are based on Nerve Finance Contracts, with minor modifications to enable new asset classes and the Celo Network’s native price feed. Mobius is also a variation of Nerve Finance on Binance Smart Chain, as can be shown (specializing in swapping stablecoins like DAI, USDC)
Mobius improves on Ubeswap’s easy AMM platform by allowing users to swap Stablecoins at a low sliding price, improving user experience, lowering costs, and optimizing assets held.

What are the problems that Mobius Money is trying to solve?

The Mobius platform was created to focus on two main issues:

Price Stable Pools:

Mobius is built to exchange between assets that have supposedly equal market pricing (Stablecoins or Wraped Tokens). For example, cUSD-USDC, cEUR-EURS, and cBTC-wBTC are all examples of currency pairs. Because the aforesaid assets’ prices are stable, the liquidity provided to the Pool is risk-free. As a result, Mobius’ near-risk-free yield IL will undoubtedly draw a large amount of liquidity to these stablecoin pairs.

Any asset pair with a somewhat steady exchange rate, such as cUSD-cEUR, can be supported by Mobius. In fact, the forex market is one of the world’s major financial markets, with a daily volume exceeding $6 trillion. The Mobius team believes that as the cLabs team continues to create more stablecoins denominated in various national currencies, the requirement for quick swapping between crypto-currency pairs will become increasingly vital. As a result, Mobius is a critical component of the DeFi infrastructure, which allows anyone with a smartphone to mine Celo’s stablecoin environment using their own currency.

Interest Bearing + Liquid Staking Pools

These are fixed assets that are usually left idle. Projects like Celo, on the other hand, have built encrypted versions of CELO called sCELO, which are staked in Liquidity. Staked CELO can be traded, and income from staking and farming can be accumulated. Mobi’s costs are practically non-existent for users. Stake CELO -> sCELO -> Staking/farming sCELO -> Reward is an example.

Proof of Stake Blockchains like Celo requires a large number of native tokens to be locked and staked for better network security. The project could open the door to future DeFi uses, such as the use of sCELO as collateral for loans, by establishing an efficient marketplace for CELO-sCELO transactions. Moola Market, for example, allows you to borrow money using protocols.

Outstanding features of Mobius Money

Liquidity Providers: Mobius will provide existing liquidity providers (LPers) an appealing chance to deposit their tokens in Mobius and receive a transaction fee (0.15%) based on their position. In addition, providing liquidity on stablecoin pairs in pools will help LPs avoid the risks of impermanent loss.
Cross-chain: The cross-chain Bridge solution connects liquidity from several different ecosystems to Celo thanks to Optics. This bridge will support a variety of ERC-20 token transfers to Celo, reducing friction for users wishing to move their Ethereum liquidity to the platform. As a result, Mobius can be seen as a platform for cross-chain capital transfer. Boost other chains using Celo’s stablecoin and attract liquidity from other chains with great interest in stablecoins.

MOBI, Mobius Money governance token, token use-case:

MOBI is a voting governance token in MobiusDAO.
MOBI is also used to pay for farming

You can update the price of MOBI Token onCoincu.comright at:CLICK HERE

Symmetric

Symmetric is a decentralized exchange (DEX) and automated market maker (AMM) that runs on the Celo and xDai networks, both of which are noted for their high transaction speeds and cheap transaction fees.
For users who are new to the DeFi space, Symmetric was built and designed with simplicity in mind. The project’s purpose is to make DeFi accessible to everyone at a reasonable cost, with complete user support and a risk fund to ensure greater safety.

Symmetric aspires to be the cross-chain dexterity of the future.

Outstanding features of Symmetric

In the same way as other AMMs. Symmetric has two primary characteristics.

Swapping: There are two Swap interfaces available in Symmetric. an xDai interface, as well as a Celo chain interface Users, can select options based on their needs.
Liquidity Pool: Users are free to add liquidity or create pools on Symmetric

Symmetric’s key advantage

Low transaction fees: Lower gas prices and swap fees will encourage more traders to use the Gai Protocol.
Multichain: Symmetric is presently accessible on the xDai and Celo networks, with support for others to come in the future.
Customisable pools: Users can establish index funds, launch boards, and ESG centralized funds, and make numerous fields more usable, thanks to supporting up to 8 tokens per pool and configurable smart pools.
Unique risk fund: Symmetric provides a single risk fund that protects liquidity providers, consumers, and the community from losses caused by compromised or breached assets.
Ecosystem Support: Symmetric will support the construction and launch of new DeFi projects in order to help the ecosystem grow and thrive.
DAO managed: Symmetric is maintained via a decentralized autonomous organization (DAO), which ensures that stakeholder interests are aligned.

SYMM Token Use Case

SYMM tokens are used to participate in governance proposals by voting through the Symmetric DAO. These proposals will shape the future of the DEX, its various functions, and the ecosystem.

To participate in the DAO, users must own SYMM tokens, there will be no reward allocation for the administration. However, members of the DAO are not restricted from earning rewards by providing liquidity directly to the DEX.

You can update the price of SYMM Token onCoincu.comright at:CLICK HERE

Verdict

Celo is currently a relatively new ecosystem, and there are only a few DEX projects on the platform. However, we still have certain bases to bet on this ecosystem thanks to a solid team of engineers and Backers.

In addition, with a stimulus package worth up to USD 100 million for DeFi development and USD 20 million for Celo ecosystem development, the development team’s determination can be observed in drawing more customers and establishing a strong market position.

Find more information about:Celo

Website: https://celo.org/

Ubeswap: https://ubeswap.org/

Mobius Money: https://www.mobius.money/

Symmetric: https://symmetric.finance/

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Ken.N

Coincu Ventures

DeFi