Saddle x Celo: wCUSD Metapool Launch
Saddle Finance announces its partnership with Celo to launch a wCUSD metapool.
The Saddle wCUSD metapool comprises wrapped Celo USD (wCUSD) and Saddle USDv2 Pool (DAI, USDC, and USDT). This launch adds one more option for DeFi users to access cost-efficient, user-friendly, low-slippage trades between stablecoin assets.
WRAPPED CELO USD (wCUSD)
Wrapped Celo Dollar (wCUSD) is an ERC20 token, representing a 1:1 share of wCUSD. wCUSD provides a simple and secure bridge to the Ethereum chain.
- Wrapping (minting) is done by sending an asset to the custodian’s deposit address and by submitting a wrapping request.
- Unwrapping (burning) an asset is done by submitting a request to the custodian. Once unwrapped, the custodian will send the equivalent underlying asset (minus applicable fees) to the user’s account.
Both Saddle and Celo are committed to building the DeFi ecosystem. Celo’s mission is to bring cryptocurrency tools to every person with a smartphone, notably the unbanked. Their mission is to help users, devs, and LPs alike access the benefits and gains of cost-efficient and low-slippage AMMs.
ABOUT SADDLE
Saddle is a decentralized AMM on the Ethereum blockchain, optimized for pegged value crypto assets such as stablecoins and wrapped BTC / wrapped ETH.
About Celo
The Celo Foundation is a non-profit organization based in the US that supports the growth and development of the open-source Celo Platform. Guided by the Celo community tenets, the Foundation contributes to education, technical research, environmental health, community engagement, and ecosystem outreach—activities that support and encourage an inclusive financial system that creates the conditions for prosperity for everyone.
INFO:
https://blog.saddle.finance/celo-wcusd-metapool-launch/amp/?__twitter_impression=true
