CELO announced DeFi for the People initiative. One of the neat project they have been trying out is Pool Together, pitched as a “Prize Savings Account”. The more you save, the higher chance you have for winning a prize. Get some cUSD/cEUR and try it out.

PoolTogether is live on Celo (@CeloOrg) with $500,000 of deposit rewards. Depositing on Celo means transactions fees are less than $0.01.  Celo is dedicated to bringing DeFi to everyone! $500,000 of bonus incentives will be distributed to PoolTogether depositors in the first 90 days. Those who are new to Celo can learn how to make their deposits.

DeFi for the People initiative is getting stronger and stronger in becoming a stepping stone for DeFi worldwide adoption. Name 1 possibility of having Aave Aave DeFi applications in conjunction with Celo.Org’s mobile-first approach.

This is a collaboration of global crypto organizations united by a common goal: bring DeFi to the 6 billion smartphone users around the world, uniquely enabled by Celo’s blockchain. Making DeFi mobile will bring more than 1 billion new users into the DeFi ecosystem over the next five years.

With DeFi for the People, CELO is making DeFi accessible to everyone by powering real-world use cases through a mobile-first approach. They are one step closer to bringing DeFi to the 6 billion smartphone users around the world.

Celo is a mobile-first platform that makes financial dApps and crypto payments accessible to anyone with a mobile phone. DeFi4ThePeople is a natural evolution for Celo that will address the challenges of real-world adoption and usage of crypto and develop new DeFi use cases.

With the launch of DeFi4ThePeople, and with the backing of key partners such as Aave, Sushi, Curve, PoolTogether, Ox, UMA, Valora, Ubeswap, and Moola, the rate of adoption will be accelerated. Mobile, open and real.

To facilitate adoption, CELO is also launching a $1M hackathon that will be focused on making crypto mobile. While calling all developers, build on Celo and get up to $1M in prizes, seed funding, talks, events, and mentorship from the finest in crypto.

Financial success is critical, but saving, sending, and receiving money can be a pricey and timely process, so they partnered with Dunia Pay to bring financial freedom to the surface for residents in West Africa.

With Dunia Pay, Celo dollars (cUSD) can be used for in-app crypto transactions. In addition, with the personal savings feature, its 18K active users can earn over 8% annual interest rates on savings.