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What really makes the Celo protocol stand out is its ability to solve two fundamental barriers to using crypto as a means of payment: ease of use and purchasing power volatility. The mobile-first Valora wallet built on Celo is a social payment application-oriented around overcoming these exact barriers through phone number verification and stable-value assets. Crypto addresses are linked to using mobile phone numbers, making crypto transactions as easy as sending a text message. The application also provides minimal volatility of assets through the use of stablecoins, countering any concerns of payment made with volatile assets. Access to other dApps in the Celo ecosystem, decentralized exchanges, lending opportunities within DeFi, and exploration of NFT collections are all available on the same platform — facilitating interoperability and enhancing user experience.
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The Celo ecosystem consists of global partners building Web3 applications, including in DeFi, NFTs, and payments, to support Celo’s mission of creating a more accessible and inclusive global financial system. Aside from the Celo mainnet, which hosts smart contracts and dApps, there is the non-profit Celo Foundation, the Celo Alliance for Prosperity, the Climate Collective, and more. Notably, the Celo Foundation supports the growth and development of the Celo platform by providing education, technical research, environmental health, ecosystem outreach, and more — all in support of Celo’s mission. Hex Trust joined the Celo Alliance for Prosperity in May 2020 as a mission-aligned member to build and deliver applications for a range of financial use cases.
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