Leading Protocols Announce $100m Initiative to Make DeFi More Accessible

DeFi is getting bigger and just received a push from leading names in the sector to help drive up awareness and attract more investors into the game. Several leading DeFi protocols have come together under a consortium to launch a $100 million venture titled ‘DeFi for the People’.

The consortium includes Aave, SushiSwap, Curve, 0x, ChainLink, The Graph, and more renowned names in the industry, and will use the funds towards supporting initiatives, offering grants and other incentives to educate individuals interested in learning about how the world of decentralized finance functions. The project runs on Celo’s ecosystem, which is an open-source, mobile-focused blockchain network that already has several individuals and organizations working together to provide financial inclusion across the world via its ‘Alliance for Prosperity’ initiative.

It seems to be the season for incentive programs as this latest one on Celo comes on the back of similar programs being announced by Polygon and Avalanche recently. However, this one is targeted not only at attracting DeFi projects but also comes with an aim to onboard one billion new users into the DeFi ecosystem.

The initiative will first see the launch of $500,000 worth of prizes by PoolTogether, with Aave, Curve and SushiSwap to follow soon after offering as much as $34 million in incentives. These leading DeFi protocols will launch on Celo in the coming weeks and months, after Celo rolls out its cross-chain communication and Ethereum bridge protocol, Optics.

In addition to the incentives listed above, as part of the initiative, other members within the consortium, including ChainLink, The Graph and Wrapped.com will focus on delivering educational content and other resources targeted at raising awareness about DeFi. With an aim to make DeFi more accessible to anyone who owns a mobile phone, the project has the potential to increase the scope of the DeFi market around the world.

ABOUT THE AUTHOR See More

Aiswarya Gopan

Financial Writer & Editor - Asia & Europe Desk

Aiswarya Gopan is a financial journalist, editor, and content strategist with more than 19 years of experience across financial markets, fintech, blockchain, and technology. She has worked with leading cryptocurrency exchanges, including BingX and KuCoin, driving content strategy, market research, and editorial initiatives covering digital assets, DeFi, Web3, and global financial markets. Drawing on a background in cybersecurity, technology journalism, and market research, Aiswarya specializes in translating complex financial and blockchain developments into clear, timely insights. At FX Leaders, she covers cryptocurrency, stocks, forex, and macroeconomic developments across the Asian and European trading sessions.

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