In the Buidl, not Bear market, the Chee Finance team is hard at work to bring new innovations to Web3.
We began using DeFi LPs as collateral after launching our Governance Finance product, then we started to support ERC-20 tokens as collateral, and Chee Finance now accepts veNFTs, and DeFi LPs.
Our team is currently working on enabling support for Uniswap v3 LP NFTs to increase the number of LP pairs that can be supported on Celo.
The LPs can be used as collateral in the same way as ERC-20 tokens. You can find more information in the Chee Finance mainnet tutorial. Keep in mind that LPs cannot be borrowed, they can only be used as collateral. Click here to access the app.
Currently supported LPs on Chee Finance:
Ubeswap's CELO-ETH (Portalbridge) pair.
Check out Ubeswap’s tutorial to learn how to provide liquidity.
Gamma's cUSD-USDC pair.
Check out Gamma's tutorial to learn how to provide liquidity.
What is Ubeswap?
Ubeswap is a decentralized exchange and automated market maker protocol for Celo assets. Aiming to increase liquidity on Celo as quickly as possible, Ubeswap envisions a world in which anyone can trade any asset easily on their phone or browser, without relying on decades-old clearinghouse technology. Ubeswap seeks to bring in liquidity from all of DeFi by harnessing the fast transaction times, high block gas limit, and stablecoin system of Celo.
What is Gamma?
Gamma is a protocol designed for the non-custodial, automated, active management of concentrated liquidity pools. Gamma's protocol is built into a Web Application hosted on the leading Gamma site. This protocol is available to the Public, and Pro entities like DAOs, treasuries, and protocols.
Gamma also funds the research and implementation of Strategies. Gamma is using data science and financial modeling to implement the most effective strategies available for participants.
What is Chee Finance?
Chee Finance is a multi-chain web3 money market, with liquidity built on both crypto assets and real-world assets, including ERC20 tokens, DeFi LPs, governance tokens, and loan tokens. We have Chee Finance mainnets live on Celo, Meter.io, BNB Chain, and Ethereum. Aside from ERC20 tokens as collateral, Chee Finance also supports financial NFTs such as vote escrowed NFT (veNFT), DeFi LP NFT (like Uni v3 LP), and more various NFTs.