ReSource is thrilled to join Celo’s DeFi for the People initiative

2 min readNov 16, 2021

What is DeFi for the people and why did ReSource join it?

One of Celo’s main missions is to make DeFi accessible to the 6 billion mobile phone users around the world and to develop mobile-first DeFi tools for everyone — which are both cost effective, easy to use, and tuned to the needs of the “real” economy. You know, the economy that bakes our bread and builds our houses.

As a project that aims to primarily serve this “real”economy, ReSource feels more than at home under the roof of DeFi for the People. Our users are small business owners, freelancers, shops, and start ups, many of whom have never owned any crypto wallet and for whom rUSD and SOURCE are the first crypto assets under their control. Making it easy for them to opt-in is our most cherished UX\UI imperative, which will soon be reflected in the ReSource mobile marketplace app.

Supported rewards

As part of the DeFi for the People initiative, Celo will support the SOURCE\mcUSD trading pair on UbeSwapp with additional LP incentives. In conjunction with similar support by Ubeswap, the combined LP incentives for the trading pair will amount to
50,000 SOURCE +
26,160 UBE +
7,700 CELO
per month.

Why did we build on Celo?

Celo is the perfect fit for ReSource — certainly in terms of features and cost-efficiency, but more importantly: in terms of values and long-term goals.

ReSource is not only a credit network, but also an international payment network, serving retail users world-wide which cannot and should not be exposed to fluctuating gas prices. Moreover, the ReSource protocol, its underwriting network and negative-balance enabled native stablecoin, are relatively code-intensive and as such dependent on the cost-efficiency the Celo EVM provides.

But again, this is not only a question of financial costs: the carbon-footprint created by ReSource, would it have been developed on a competing PoW chain, would have been unacceptable — as any avoidable footprint is. Celo has also invested considerable efforts in making its network accessible to mobile-based users in emerging markets, which suits us from a bizdev perspective as well as from the value perspective driving the ReSource project.

And more important than anything (maybe?) — The fact that each transaction on the ReSource network effectively removes carbon from the atmosphere fills us with joy.

So thanks to Celo for including us in DeFi for the people, and let’s Light Up a Billion Faces.

Your friends at ReSource.




A blockchain-based mutual credit network for businesses.