0x + Celo expand partnership to allocate $4.5M in joint funding to the 0x DAO

Celo's DeFi for the People initiative is one step closer to its goal of delivering DeFi to 6 billion smartphone users worldwide on 0x-powered apps.

As a founding partner of Celo's DeFi for the People, we're thrilled to announce that in addition to recently launching Celo support on 0x API, we've expanded our partnership 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.

At 0x Labs, we believe in the Celo team's mission to build a financial system that creates the conditions for prosperity—for everyone. Blockchains allow us to leave the geographic lottery behind by establishing an open and globally accessible financial system that acts as a potent equalizing force for the world. And with over 90% of the global internet population using mobile devices to go online, we're excited to see the benefits of DeFi spread even further as developers take advantage of 0x's core internet exchange infrastructure and Celo's mobile-first blockchain platform.

"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."

- Will Warren, Co-Founder and Co-CEO of 0x Labs
"We're currently building an ecosystem making the benefits of DeFi accessible to the billions of mobile-first users around the world. 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"

- Xochitl Cazador, Head of Ecosystem Growth at Celo

As with previous 0x DAO funding, we plan to work with the 0x DAO Bootstrap Delegates on ensuring transparent accounting, management, and communication around the funding. If you have any ideas on the topic or want to get more involved in 0x governance, please visit the Governance and Research forum.


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