Ubeswap — a decentralized exchange protocol and automatic market maker for Celo assets. Ubeswap runs on Uniswap, Sushiswap, Synthetix and Compound elements. This is to ensure that the Ubeswap ecosystem can support as many existing tools and projects from the Ethereum ecosystem as possible.
Description of the Ubeswap project
Ubeswap's goal — to increase Celo's liquidity. The team envisions a world where anyone can trade any asset from their phone or browser without relying on outdated clearing house technology or other centralized systems. This is only possible if people can invest in good assets. The project aims to get liquidity from all DeFi by using fast transaction times, high block gas limit and the Celo stablecoin system.
Usage features:
| 1 | To use Ubeswap, download and set up the Valora wallet or one of the other supported wallets. |
| 2 | You can purchase Celo dollars (cUSD) on the Valora app or CELO on an exchange like Coinbase. |
| 3 | Once you have some CELO or cUSD to trade with, log into app.ubeswap.org with your wallet and a compatible browser. |
Ubeswap allows you to switch between any two tokens as long as there is an Ubeswap pair between those two tokens. Let's say you have cUSD and want to exchange it for CELO. In the interface, select the tokens you want to exchange from (cUSD) and to (CELO). Enter the amount of cUSD to swap. This amount must be greater than 0, but less than the maximum balance.
Pools on the coin defi site
Pools — a way to provide liquidity or the ability to trade between two different tokens on Ubeswap. They allow you to access the price of two tokens while earning a commission for trading your tokens.
These LP tokens are extremely useful as they can help to provide collateral for a loan, earn rewards on the income farming platform, and many other use cases.