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What is Celo?

Celo is an open-source and CO2 negative (reduces CO2 in the atmosphere) mobile-first DeFi platform.

They see themselves as a platform that aims to stimulate the growth of local economies. By doing so, they want to restore the global ecology. People making things or founding businesses they want to restructure the local economy. Celo builds products that create conditions for prosperity for all.

Celo's motto is to make decentralised finance (DeFi) available to 6 billion mobile users around the world (all mobiles out there now).

$100 million is in their DeFi development fund for Web3 projects. Just under 3 million users have an active (Valora) wallet on Celo.com.

What can you do with Celo?

Celo is a fully EVM (Ethereum Virtual Machine) compatible proof of stake layer-1 (coin like Bitcoin with its own network, defaultcoin) protocol. It is an ultralight client designed for mobile with the ability to pay transaction fees with tokens or stablecoins. Millions of people already benefit from assets and applications built on Celo.

What is the Celo Foundation?

This foundation started the "Connect the World" campaign in 2022, alongside the "FiatConnect" campaign. Connect the World will give the first provider in a country of payments with FiatConnect $50,000 once they pass the quality test and another $100,000 maximum for using the network to reduce costs for users. FiatConnect is a standard API (application programming interface) specification that allows payment providers to flow money in and out of a wallet. This API makes the life of wallet developers and payment providers a lot easier and reduces the number of apps users have to open to pump coins around.

Three stablecoins have been launched to make payments, namely cUSD (Celo dollar), cEUR (Cela euro) and the cREAL (Celo real - Brazilian). dApps built on Celo's ecosystem are already being used to pay, for example, micro-labourers (people who can do very little work, not gnomes) in low-wage countries, mitigate COVID in the Philippines and fund unconditional basic income. These projects were particularly successful because Celo stablecoins were easy to convert to fiat money and thus bills could be paid with them.

In countries where Celo does not operate, it can be a disaster to simply convert Celo assets to, say, the local fiat currency. Before you know it, you are swapping several times and soon a large part of your money is on the coattails of all the intermediate steps, such as wallets, exchanges and banks. Celo therefore wants the whole world to be able to easily swap money via Celo mobile at very low rates to any destination. If you want to send your uncle in Australia a tenner, that should be easy to do with Celo within seconds at negligible rates.

Since 2013

Anycoin Direct is officially registered with De Nederlandsche Bank and the Austrian FMA. In addition, we always implement the latest security protocols.

Security

Store your coins in our secure Vault or send them to your personal wallet. You decide how your coins are stored.

Community

Over 500,000 Europeans are part of the Anycoin platform. In addition, Anycoin Direct is the best rated crypto broker in Europe. 

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Why buy Celo with Anycoin?

With over 14.000 reviews on TrustPilot (average of 4.5 stars) and an official registration with De Nederlandsche Bank (DNB), Anycoin Direct is one of the most trusted crypto services in Europe since 2013.

Buy crypto in three easy steps!

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Buy, sell, swap and store your favorite coins. Never miss a moment.

Anycoin Vault

The Vault is a safe alternative to the traditional crypto wallet for those who want to buy, sell and swap their coins on Anycoin Direct. Within the Vault you can store all your digital assets and swap them against one another. Still want to send crypto to an external wallet like your Ledger? No problem, the Vault is an additional feature. The choice is yours. 

Foundation

Balances in the Anycoin Vault, are kept in a foundation. This foundation has only one purpose, to preserve our customer funds. This construction ensures that customers are entitled to compensation in the unlikely event of Anycoin Direct's bankruptcy. In addition, we want to reiterate that we always want to give customers a choice between using the Anycoin Vault and sending coins to an external wallet.

Extra information about Celo

Companies and projects Celo works with

Kickstarter

Allows you to start a creative project. Billions have already been spent in hundreds of thousands of projects, finding jobs for large groups of people and creating tens of thousands of businesses.

Kickstarter is a company that has become independent of Celo and is committed to decentralisation. Camille Canon will lead the governance lab, she is co-founder of the Purpose Foundation who have their focus on developing and scaling up alternative ways of ownership and governance models.

The Climate Collective

This is a growing group of companies working together to take action for the climate. They evaluate organisations and connect them through the possibility of funding promising projects, strategic partnerships and educational resources. Their mission is to bring companies together and provide them with the resources they need to fight climate change, such as Celo, Green World, Loam and Regen Network.

Celo and The Climate Collective have already launched many projects to make the planet greener and more livable. One key project is rainforest buyouts, funded by stablecoins. The larger the amount of cEURO, cREAL (Real is the Brazilian currency) and cUSD in circulation become, the more collateral they could create to buy rainforest. 

At the time of writing, Celo has $850,000,000 in reserve. With 40% of this, the protocol could plant new rainforest for $340,000,000. For $25,000,000, it is possible to buy a piece of rainforest the size of Lebanon in the Amazon. 

The IPCC (Intergovernmental Panel on Climate Change) has estimated that 10 gigatonnes of CO2 must be removed from our atmosphere to keep temperatures from rising more than two degrees. If cEURO, cREAL and cUSD together became as big as USDC, this would allow them to achieve 16% of this target with their reserves.

Ubeswap

This is a mobile-first decentralised exchange, an Automated Market Maker (AMM, automatic pricing) protocol for Celo assets, democratising access to DeFi for all. It is a simple swap app that lets you swap (exchange) coins quickly.

MOOLA

Mobile-first lending protocol platform for lending and borrowing coins like cUSD (Celo dollars) or cEUR. It mainly deals with microloans in poorer countries.

Wallets

The Celo dApp sends money to your contacts by name, not wallet addresses, which average 42 characters. So it is simpler to use. Usable wallets that work with Celo include: MetaMask, Valora, Celo Wallet and Abra. 

Celo specifications

  • Proof of stake. Permissive consensus algorithm empowered by decentralised, carbon-negative impact infrastructure. 

  • Full EVM (Ethereum Virtual Machine) comptability. Support for popular Ethereum tools and tokens make it easy to connect dApps.

  • Low and multi-currency gas fees. Because you can also pay with stablecoins, usage fees become very low.

  • Phone number gets a name. Instead of public keys, you can name a coin address when making payments. Sending a tenner to John is easier than sending it to an address containing 42 numbers and digits.

  • Access to money with a stable value. A growing number of stablecoins like cUSD or USDC are available for mobile payments.

  • Cross-chain (between multiple networks) exchangeable. More and more networks are joining Celo, allowing you to exchange more and more different coins.

  • Almost 200 million transactions, average time per block 5 seconds, average gas fee 0.001$, days they are CO2 negative (absorb more CO2 than they emit) around 1000.

What is impactMarket?

This is an application layer protocol designed to combat poverty quickly. It aims to promote the bottom-up economy and provide an unconditional basic income to vulnerable groups, especially available in Africa, South America and Asia.

This is to give people access to finance and wealth sharing, people over capital and a guarantee that public and central authorities will not control these funds.

The $PACT governance token gives its holder control over the impactMarket DAO (decentralised autonomous organisation), allowing them to drive the future and direction of the protocol themselves.

The impactMarket token (PACT) can now be found on CoinGecko and CoinMarketCap.

With impact Farming, you can mine coins and donate them to the impactMarket community.

What is the Mutual Credit protocol?

ReSource is a mutual credit protocol (mutual credit system) that provides credit to participants at sometimes as low as 0% interest, eliminating the dependence on lenders such as banks or investors. 

Everyone has credit, only it is difficult to monetise it because it is hard to sell. For instance, one person is good at cleaning and the other is a genius at administration. Now if they both put in an hour's work, one has a clean house and the other a clean slate. You create your own "money" this way, outside the fiat system. 

What is striking in this system is that the total value of all the "money" in the system is always relatively stable. If Jan does an hour's work he is at 1, say, if Marieke does something back from an hour the debts are paid. As the network gets bigger you will no longer get exchanges between two people, but between all the participants. The more participants, the better the system works, because everyone has a different job they are waiting for and something else they can do. Before you know it, you have a veritable shadow microeconomy that works very well.

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