A new community proposal was reportedly generated within the Uniswap governance forum for the deployment of Celo blockchain-based protocol. 

Specifically, the protocol – which functions as a mobile-first, carbon-negative, and Ethereum Virtual Machine-compatible network – was reportedly built on behalf of Blockchain at Michigan, via a collaboration formed with the Celo Foundation and the Celo Climate Collective.

As soon as the approval is granted, users will reportedly have the ability to tap into Uniswap’s approximately six billion mobile phone users. 

At the moment, MetaMask mobile app reportedly makes the utilization possible using Uniswap or other decentralized exchanges via an in-app browser.

The Celo Foundation is reportedly going to dedicate $10 million equivalent to CELO in Uniswap-specific user incentives and grants, together with $10 million in financial incentives for Uniswap in particular. 

The primary concentration of deployment would be the roll-out of green asset liquidity pools with natural capital-backed assets, nominally tokenized carbon credits.

The foundation has further plans down its pipeline to roll out nature-backed assets issued on Celo such as land and forests in the foreseeable future.

The Celo Foundation reportedly works towards its target of rebalancing its reserves via utilizing natural blacked assets, with the assistance of Uniswap’s decentralized mechanism.

At the moment, the foundation requires the help of centralized exchanges for rebalancing. Nonetheless, these exchanges offer no facilitating features for green assets and thus, the role of Uniswap becomes even more prominent.