Hassan Maishera
On Monday, Aave Labs announced via X that Aave V3 is now live on the Celo blockchain. With this launch, users can now borrow and supply on Celo's fast, mobile-first network, bringing Aave to real-world users around the globe.
The initial list of assets for the Celo market includes CELO, USDC, USDT, cUSD, and cEUR. This integration was deployed by bgdlabs on behalf of Aave DAO, with risk analysis from Chaos Labs.
Aave protocol is a decentralized, open-source, and non-custodial money market protocol. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain overcollateralized loans by using the liquidity from these pools. AAVE is trading at $170.92 per token, up 1% in the last 24 hours.
Celo is an open platform that supports various distributed applications, smart contract development, and payments using e-mail addresses and phone numbers as public keys. CELO is up 1% in the last 24 hours and is currently trading at $0.3489.
