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Celer Network, a project building the best inter-blockchain and cross-layer communications platform, recently announced a new partnership. The project teamed up with YuzuSwap, the crypto industry’s first infinitely extensible decentralized exchange (DEX), built on Oasis. The goal of the partnership is to launch a new dual-yield liquidity mining program for YuzuSwap’s ceUSDC/ROSE pool.
The details of the program
According to the project’s recent announcement, Celer Network’s recent partnership with the Oasis Blockchain opened a lot of new opportunities for the project to work with various apps that run on the Oasis network. One of them is a DEX called YuzuSwap — the Oasis ecosystem’s leading decentralized exchange.
The two are launching a new liquidity mining program that will offer a total of $240,000 in rewards, waiting to be collected. All that users need to do is provide liquidity for YuzuSwap’s ceUSDC/ROSE pool, and they will be able to earn mining rewards in both YUZU and CELR.
— CelerNetwork (@CelerNetwork) February 11, 2022
The program launched on Friday, February 11th, at 4 PM UTC, and it will last for the next 30 days, so there is still plenty of time left to join. Of course, those who join early will have a greater chance to earn more, so anyone interested in joining should not waste any time.
What should you know about Yuzu?
YuzuSwap is the first P2P AMM DEX created on the Oasis blockchain, and as such, it is not surprising that Celer Network selected it to be one of its first partners in this new ecosystem. YuzuSwap’s goal is to provide a swift, safe, and low-cost tool for discovering and swapping tokens in the Oasis ecosystem.
The exchange was created with the ability to ingratiate any project on the Oasis chain. Furthermore, the project also has high composability, which allows it to be highly flexible, react quickly to changes and innovations, and adapt to new technologies.
Celer’s partnership with Yuzu
Celer’s cBridge recently hit $3.2 billion in total transaction volume, while its TVL skyrocketed to $280 million around 7 months following the release of the project’s mainnet. With a series of successes and milestones behind it, the project aims to continue to expand its support for an even greater number of projects and ecosystems.
Its partnership with YuzuSwap is starting with the promotion of the best environment for growth through liquidity bridging to the Oasis ecosystem. Next, the project also intends to start using its new feature, the recently-launched Inter-chain Message Framework. The Message Framework will help the project explore a number of new opportunities in cross-chain general message passing and smart contract calls.
As a result, YuzuSwap’s users will be able to receive a native, multi-chain dApp experience. This is all possible due to the fact that Celer is the leading inter-blockchain and cross-layer communication platform. It offers fast, safe, and cheap cross-chain bridging and composability. The project’s products are highly advanced, and they managed to attract a lot of major blockchain contributors and massive end users from the areas of DeFi, blockchain interoperability, and even gaming.
They are all interested in the project’s potential and its ability to create and use inter-chain native apps enabled by the Celer tech suite.
To learn more about this token visit our Investing in Celer Network guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.