• The governance forum received a proposal by the community to implement the Celo protocol.
• This deployment’s main purpose is to introduce green asset liquidity pools that are backed by natural capital.
• At the moment, 100% support the proposal.

Celo, with the support of Uniswap aims promote green use and rebalance its treasury by using tokens that are green-backed assets.

The Uniswap governance forum introduced a new community proposal to implement the Celo blockchain protocol. Blockchain Michigan and the Celo Climate Collective, in collaboration with Celo Foundation and Celo Foundation created this new proposal. If approved, Uniswap would be available to nearly six billion users of mobile phones.

Green asset liquidity pools will be created with natural capital assets, such as tokenized carbon credit. This is the main goal of this deployment. They also plan to introduce nature-backed assets within the next few years. Celo is used to issue these assets, which include forests and land.

The Celo Foundation will commit $10 million in CELO to Uniswap grants and user incentives. Additional financial incentives of $10 million for Uniswap will accompany this $10 million.

Although centralized exchanges are used to balance its reserve reserves, they do not allow for green assets. This is where Uniswap will come in, as the foundation plans on utilizing Uniswap’s decentralized mechanism to enable reserve rebalancing using the nature-backed assets.

The vote on this proposal can be opened until Sunday. At the moment, the proposal has received 100% of votes. The Celo Foundation, once deployed will seek to create more green use cases over Uniswap.

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