A new community proposal to publish the protocol on the Celo blockchain, a carbon-free mobile network compatible with the Ethereum virtual machine, was presented at the Uniswap Governance Forum.

The new proposal was created on behalf of Blockchain in Michigan and in collaboration with the Celo Foundation and the Celo Climate Collective. When Uniswap is adopted, it will reach almost six billion mobile users. Currently, the MetaMask mobile app lets you use Uniswap or other decentralized exchanges through an in-app browser.

The Celo Foundation will allocate $ 10 million in CELO in user incentives and grants to Uniswap, and $ 10 million in financial incentives specifically to Uniswap, and the main focus of the rollout will be to create green equity liquidity pools with natural capital-backed assets. for example, the symbolism of carbon credits. The fund also plans to offer natural remedies issued as a whole, such as land and forests, in the near future.

The Celo Foundation seeks to balance its reserves by using black natural resources through the Uniswap decentralized mechanism. The institution is currently dependent on central exchanges for rebalancing, but these exchanges do not support green assets, so the role of Uniswap is becoming more prominent.

Related: Kickstarter plans to move to a platform built on the Celo blockchain

The fund works to promote the use of natural capital-supported currencies and hopes that the recent collaboration with Uniswap will help achieve these goals.

Voting on the proposal is open until Sunday. An early snapshot of the current votes shows that 100% of the people voted for the proposal. Once distributed, the Celo Foundation aims to build more sustainable utility cases on top of Uniswap.

Snapshot for voting on Uniswap’s management proposal
Celo is one of the pioneering blockchains focusing on environmental, social and governance goals (ESG). On the other hand, Uniswap is a leading DeFi ecosystem that handles 1 billion daily transactions. DeFi also helped people donate to the government of Ukraine by creating an altcoin exchange interface.

Source: CoinTelegraph