Solana-Style Transaction Fees, on Ethereum? Yes Please.

TL;DR

• Celo is on a path to becoming the ‘Visa/Mastercard’ of stablecoin payments, making them cheap, accessible, and hands-off (across all major chains).

Full Story

$USDT is launching on Celo — which may feel like déjà vu, cause $USDC launched there just two weeks ago.

Here’s why we’re weirdly intrigued by something as boring as stablecoin integrations:

It looks like Celo is trying to become the Visa (or Mastercard) of stablecoin payments — i.e. cheap, accessible, and hands-off.

Celo is designed specifically for fast and low-cost payments on Ethereum (them and every other layer 2 out there).

So many folks are working on it, cause right now, if you buy something using $USDT via the main Ethereum network – you’re going to be paying a criminal amount of transaction fees.

Think: anywhere between $50 and $500.

If you did the same thing via Celo, you’d pay around $0.001 for that same transaction, regardless of ETH’s price - in fact, it’ll do it for you across any $USDT friendly blockchain (like Tron, Solana, Avalanche and Omni).

“Cool, so, is this gonna affect me??” — you, probably.

Yeah, it probs will.

If you use crypto, you and Celo (or something like it) will eventually cross paths.

Cause if crypto is going to catch on as a universal payment method — the most common form will be some kind of stablecoin.

A network like Celo essentially says to consumers:

“We don’t care what kind of stablecoin you’re holding, or which blockchain you’re trying to send it across — we’ll make sure it gets to where it needs to go, regardless.”

(Which is a standard in fiat debit/credit payments, that crypto is yet to meet).

Noice!