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.
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.