0x and Celo Partner to Allocate $4.5M in Joint Funding to Bring Billions of New Users Onto 0x-Powered Applications

SAN FRANCISCO, Dec. 3, 2021 /PRNewswire/ --

• 0x Labs expands its 0x API multi-chain support to the Celo blockchain
• 0x and Celo partner to allocate $4.5 million in joint funding to bring billions of new users onto 0x-powered applications running on Celo

0x Labs, a global blockchain company building decentralized exchange infrastructure for the internet, today announced that in addition to launching its free-to-use 0x API service on the Celo blockchain, 0x and Celo have partnered to allocate $4.5M in joint funding to the community-owned 0x DAO. The funding, consisting of $3M in CELO and $1.5M in ZRX, will be used to bring 6 billion new users onto 0x-powered applications running on the Celo blockchain.

0x Labs' co-founder and co-CEO, Will Warren, commented, "We're excited to work even more closely with Celo to bring DeFi to 6 billion smartphone users on 0x-powered apps. With this additional 0x DAO funding, ZRX token holders have more empowerment to drive 0x adoption and enact positive change in the world through the use of community treasury funds."

"We're currently building an ecosystem making the benefits of DeFi accessible to the billions of mobile-first users around the world," said Xochitl Cazador, Head of Ecosystem Growth at Celo. "Our collaboration with 0x is more than simply promoting the development and adoption of 0x-powered apps on the Celo network. It's bringing together two like-minded organizations to continue fostering the rapid expansion of truly decentralized DeFi with the 0x community DAO."

Businesses use 0x API to power their DeFi applications across a growing number of blockchains, including Ethereum, Binance Smart Chain, Polygon, Avalanche, Fantom, and now, Celo.

Since launch, 0x API has facilitated over 22M trades from more than 1.8M unique traders that represent over $56 billion in volume. The 0x API makes it easy for DeFi developers to tap into fast and reliable aggregated DEX liquidity so they can focus on what matters the most: their product.

Businesses interested in using 0x API to power their applications can start building at 0x.org/docs/api.

About 0x and 0x Labs
0x is decentralized exchange infrastructure for the internet. Since its inception, the 0x Protocol has enabled the exchange of more than $107 billion in tokenized value across approximately 25 million crypto trades. Businesses can use 0x to easily incorporate exchange functionality into their applications and create new markets for cryptocurrencies and tokenized assets. 0x Labs is the creator and core developer of 0x.

For more information about 0x, please visit 0x.org and follow @0xproject.

About Celo
Celo is a mobile-first, open-source ecosystem of technologies, organizations, and individuals that all share a common mission of building a financial system that creates the conditions for prosperity of everyone. The Celo ecosystem includes a decentralized, Proof-of-Stake blockchain technology stack (Celo Platform), a native asset (CELO), stablecoins (cUSE, cEUR), and the Celo Alliance for Prosperity, with over 150 organizations around the world.

For more information about Celo, please visit celo.org.

Contact
Brent Oshiro
[email protected]

SOURCE 0x Labs