Listing Proposal of CEL on AAVE
Summary: Listing CEL token on AAVE
Hi AAVE Community,
The Celsius team would like to call upon all of you loyal AAVE users to support the listing of our CEL token as a collateral asset. We are confident that having CEL on AAVE would facilitate tangible growth in both of our ecosystems.
Celsius Network is a financial technology (fintech) platform that offers interest-bearing savings accounts, borrowing, and payments with digital and fiat assets. Celsius returns 80% of its revenue to network users in rewards, while the other 20% funds project expansion. This value proposition challenges conventional banking models while prioritizing the Celsius community. The Celsius Network forms an integrated ecosystem by offering its suite of products with its native CEL token alongside leading digital assets and fiat currencies.
- Celsius has the largest native inventory of any crypto lender, with a current customer asset pool of $9bn and 45 assets supported, across the most liquid assets and altcoins.
- Celsius has in-house expertise in De-Fi and staking, enabling us to earn yield for our users and source hard to borrow assets for our customers.
CEL Token Economics
The CEL token is an ERC-20 token that runs on the Ethereum Network. Utilization of the CEL token affords each Celsius user group unique benefits:
- Earners: By accepting rewards in the form of CEL tokens, earners receive up to 30% more rewards on all deposits of non-CEL tokens.
- Borrowers: By paying interest with CEL tokens, borrowers receive up to a 30% discount on interest payments.
- Institutions: By paying interest with CEL tokens, institutions borrowing tokens from Celsius receive a 30% discount on their interest payments.
The reward percentages originate from the Celsius loyalty program, which refers to each user’s CEL holdings. For instance, the Bronze reward level requires 5-10% of your portfolio to reside in CEL, Silver requires 10-15%, Gold requires 15-20%, and Platinum requires 20-100%. CEL’s most beneficial use is for earning compound interest, especially if you can maximize rewards through a substantial allocation of CEL in your portfolio.
The Future of Celsius & AAVE
- Develop a robust lending and borrowing market on the AAVE platform
- Leverage the rapidly growing and engaging Celsius community to drive traffic, involvement, awareness, and liquidity to AAVE.
- Multi-platform initiatives as Celsius expands its DeFi footprint and ventures through the world of swaps, decentralized exchanges, and DeFi lending.
- A new DeFi on/off ramp for CEL token as the demand for CEL token grows.
- Any initiatives conjured by the AAVE community!!
Github: Celsius Network · GitHub
Thank you for your consideration, we are so excited to build our future in DeFi in tandem, and look forward to answering any and all of your questions!