0x expands the partnership with Celo and allocates 4.5 million USD to the DAO ecosystem

0x protocol and Celo blockchain have Announce A joint partnership will allocate US$4.5 million-including US$3 million CELO and US$1.5 million ZRX-for the development of the 0x ecosystem through its community-centric decentralized autonomous organization (DAO).

The news was released after an agreement reached between the two companies in mid-November, which will integrate zero-cost 0x API functions on the Celo blockchain to enhance access to multi-chain aggregated decentralized exchanges (DEX). ) DeFi developer experience of liquidity service.

Celo is an open source collective composed of technology, non-profit organizations and non-governmental organizations (NGOs), which aims to promote more global access to decentralized applications (dApps) and cryptocurrency payments through its mobile-centric model , And 0x is a decentralized network infrastructure that can promote tokenized ERC-20 investment through the use of public smart contracts.

0x claims that since its launch, its API function has implemented more than 21 million transactions on more than 1.8 million unique addresses, with a transaction volume of more than 100 billion U.S. dollars, involving the popular Ethereum chain, Binance Smart Chain, Polygon, Avalanche and Fantom.

Xochitl Cazador, Celo’s head of ecosystem growth, said that the new partnership aims to promote the “rapid expansion” of “the truly decentralized DeFi within the 0x community DAO.”

Based on the principles of decentralization, community governance and transparent goals, The reappearance of DAO In the past 12 months, there has been a discussion that this technology will become the next major sub-industry of large-scale growth in DeFi in 2022, and therefore, has accelerated the growth of an industry Establish The historical total value lock (TVL) is 274.65 billion U.S. dollars. In contrast, DeFi’s TVL was less than US$20 billion a year ago, and it was almost non-existent at the beginning of 2020.

Related: DeFi could be 100 times bigger than today in 5 years

In August of this year, both Celo and 0x were founding members of decentralized finance Charity Initiative DeFi for the PeopleThe cooperative enterprise includes famous projects such as Aave, SushiSwap, and Curve, which have raised US$100 million to support a series of inclusive finance and education programs.

Will Warren, the co-founder and co-CEO of 0x Labs, said that based on these cooperation principles in the latest financing, the Celo partnership is expected to have a positive impact on his platform’s native ZRX token. According to CoinGecko’s data, ZRX is currently valued at US$1.07, with a total market value of US$910 million.