How did Celo surpass Tron in terms of stablecoin transaction activity?
Some time ago, the on-chain data project Artemis tweeted that the daily activity of the public chain Celo's recent stablecoin usage has surpassed Tron, the public chain that has long maintained the top position, showing Celo's rapid rise in the application scenario of stablecoins. In order to understand the reasons behind its rise, Artemis used data to find out the reasons behind it.
In the past year, the supply of stablecoins on the Celo chain has also gradually increased. In addition, the stablecoin issuer Tether has also pre-minted 200 million USDT on Celo, showing its huge demand for stablecoins in the future.
Just a few days ago, Ethereum founder Vitalik Buterin also quoted Artemis's tweet and said he was happy to see Celo get attention:
This is really great. Improving global access to basic payments and financial services has always been one of the key ways Ethereum can benefit the world. It is exciting to see that Celo is getting attention.
But some people may be curious, why does V God praise other public chains? Because Celo is about to become Ethereum's Layer2 network.
Celo team cLabs proposed the Layer2 transformation plan in July last year, and launched the first testnet in July this year to familiarize developers and infrastructure providers with the Layer2 environment.
In addition, the second testnet Alfajores went online last week (26th). According to Celo's documents, Celo Layer1 data will be migrated to Layer2 nodes during the Alfajores testnet; the official expects Celo Layer2 mainnet to be launched in early November this year.
Main promoter of ReFi
In addition to stablecoins and Layer2 issues, Celo is also a major promoter of ReFi, supporting many carbon credit tokenization protocols, including Toucan Protocol, Moss Earth, Flowcarbon, etc. In addition, Celo is also the first negative carbon emission public chain, which promotes the reduction of carbon emissions through burning and reward mechanisms.
Not only that, Refi is also a new concept proposed by the Celo community, with the goal of showing the world a negative carbon footprint and renewable economic system. Celo CEO Marek Olszewski said last year that the Web3 ecosystem can do a lot to combat climate change:
The traditional carbon credit system is plagued by a lack of transparency, and through blockchain, real-time transparency can be achieved and carbon offsets can be verified to still be useful.
