Celo Colombia 2024 H2 Report

Ecosystem DAOs
1

1. Introduction

The second half of 2024 was a period of significant growth and activity for Celo Colombia, highlighted by the approval of our operational proposal in the Celo Governance Forum. The initial proposal, submitted on October 1, 2024, requested 50,000 cUSD to support Celo Colombia operations, community development, and the launch of the $cCOP stablecoin. After undergoing community discussion and feedback, the proposal was revised to request 38,000 cUSD. It was then submitted for voting on November 4, 2024, where it received overwhelming support, with 99.1% voting YES. This milestone officially marked the commencement of our operations in November 2024.

1600×490 85.6 KB

This report provides a comprehensive overview of our initiatives, including social media engagement across X (formerly Twitter), Instagram and TikTok, as well as in-person events. Particular emphasis is placed on the educational and promotional efforts surrounding the $cCOP token, which have played a pivotal role in our community-building strategy.

2. Key Activities and Achievements

Launch of $cCOP

In partnership with Mento Labs, $cCOP was introduced as Colombia’s first decentralized stablecoin, paving the way for enhanced financial inclusion and innovation within the region. This launch represents a significant milestone in our efforts to drive blockchain adoption and economic empowerment in Colombia.

Following the approval of the proposal to enable the necessary oracles for $cCOP, which was executed on October 30, 2024, the final proposal for the official launch of $cCOP was submitted for voting on October 17, 2024. This proposal also received unanimous support, with 100% approval votes, and was successfully executed on October 31, 2024. These approvals and executions ensured that all technical and governance requirements were met for $cCOP’s debut.

1600×495 78.8 KB

For more details, see the proposals:

Collaborations

Celo Colombia partnered with local businesses (Hash House) and online platforms (BucksPay) to promote the adoption of the cCOP token. Additionally, ReFi Medellín has integrated cCOP into its lending platform and also launched its own UBI Platform, using it to pay collaborators, set prices, and distribute rewards during community events. Collaborations with merchants have facilitated the acceptance of cCOP as a payment method, showcasing its practical utility. These efforts are ongoing and close to transitioning into the next phase.

Liquidity pool creation and Incentives campaign.

We achieved the creation of a liquidity pool between USDT and cCOP in Uniswap, encouraging community members to participate. This initiative resulted in reaching up to $90,000 in TVL, showcasing strong community engagement and trust in the cCOP token.

1220×692 284 KB

As part of our ongoing efforts to expand the utility of cCOP, we’re pleased to highlight its availability on CarbonDeFi. This decentralized exchange offers a more flexible approach to liquidity and trading compared to traditional AMMs.

With cCOP on CarbonDeFi, users can:

  • Execute on-chain limit and range orders, automating their trades based on predefined conditions.
  • Utilize concentrated and rotating liquidity to enhance capital efficiency.
  • Benefit from MEV resistance, ensuring a fairer trading experience.

CarbonDeFi’s platform gives users greater control over their liquidity and trading strategies, making it an ideal environment for adopting cCOP in decentralized finance.

image
image1216×594 37.2 KB

The cCOP Token also reached more than 100,000 US value in supply in the Mento Platform surpassing the eXOF supply.

1600×874 140 KB

To further drive participation, we partnered with the Stabila Foundation to provide incentives for liquidity providers. This collaboration aimed to lower technological barriers by aligning rewards with educational efforts, making the process more accessible and appealing to users.

Social Media Growth

Celo Colombia’s presence continues to expand:

  • The X account (formerly Twitter) now surpasses 500 followers.
  • The Telegram community has grown to more than 150 active members.
  • The Instagram account reached over 200 followers. Growing during this period 162 new followers and 7 unfollows for a net grow of 155 followers.
  • The new TikTok account gained more than 50 followers, broadening our reach to new audiences.

Social Interactions

  • X account:

    • Total interactions (December): 346 interactions.
      • Likes: 283 (81.8% of total interactions).
      • Retweets: 36 (10.4% of total interactions).
      • Replies: 27 (7.8% of total interactions).
    • Average interactions per tweet: 12 interactions

  • Instagram account:

    • Total interactions (Until December): 949 interactions.
      • Reels: 481
        • Likes: 335
        • Comments: 75
        • Saves: 6
        • Shares: 65
      • Posts: 451
        • Likes: 359
        • Comments: 21
        • Saves: 9
        • Shares: 38
      • Live Videos: 12
        • Comments: 12
      • Stories: 5
        • Replies: 3
        • Shares: 2

  • TikTok account:

    • Total interactions (Until December): 116 interactions
      • Like: 67 (57,76% of total interactions).
      • Comment: 15 (12,93% of total interactions).
      • Shares: 34 (29,31% of total interactions).

Impressions

  • X account:
    • Total impressions: 9,355 during December.
    • Average impressions per tweet: 302 during December
  • Instagram account:
    • Total impressions: 3827 during December.
  • TikTok account:
    • Total impressions: 8155 until December.

Engagement

  • X account average engagement: 3.28% during December
  • Instagram account average engagement: 7.4% during December

3. Social Media Activities

X (formerly Twitter)

Celo Colombia has actively leveraged X to share real-time updates, announcements, and educational content about the cCOP token and the broader Celo ecosystem. The platform has been a vital space for community discussions, enabling direct engagement with the team, gathering feedback, and keeping followers informed about upcoming events and initiatives.

Educational threads have been a cornerstone of this effort, focusing on:

  • The benefits of cCOP as Colombia’s first decentralized stablecoin.
  • Its role in promoting financial inclusion.
  • The importance of stability mechanisms powered by Mento Labs.

Additionally, posts have highlighted how Celo’s technology supports regenerative finance, decentralized applications, and global sustainability initiatives. By creating accessible and engaging content, we have aimed to educate diverse audiences, foster understanding, and encourage active participation in the Celo ecosystem.

Educational posts about Celo, cCOP and the Celo ecosistem, Examples:

Collaborations: cCOP Token Insights: Providing updates on its adoption, use cases, and benefits.

Liquidity Pools and Incentives:

Maximizing Influence:

All these posts were designed to make information more accessible, promote Celo adoption, and foster engagement with our audience.

Instagram

Throughout H2 2024, Celo Colombia utilized Instagram to share updates on events, educational content, and developments related to the cCOP token. The platform served as a visual diary, capturing moments from meetups and workshops, and highlighting community engagement.

Educational posts about Celo, cCOP and the Celo ecosistem, Examples:

Collaborations: cCOP Token Insights: Providing updates on its adoption, use cases, and benefits.

Liquidity Pools and Incentives:

Events promotion:

TikTok

Recognizing the growing influence of short-form video content, Celo Colombia leveraged TikTok to create engaging and informative videos. These videos aimed to demystify blockchain concepts, explain the benefits of the cCOP token, and showcase highlights from in-person events, thereby reaching a younger and more diverse audience.

Educational posts about Celo, cCOP and the Celo ecosistem, Examples:

Collaborations: cCOP Token Insights: Providing updates on its adoption, use cases, and benefits.

Liquidity Pools and Incentives:

4. In-Person Activities

  • Launch of cCOP: On October 31, 2024, Celo Colombia hosted a landmark event at Hash House in Medellín to officially launch the cCOP token, Colombia’s first decentralized stablecoin pegged to the Colombian Peso. The event attracted a diverse audience, including blockchain enthusiasts, developers, and members of the local community. Keynote speakers discussed the significance of cCOP in promoting financial inclusion and its potential impact on the Colombian economy.

  • Cerveza and Crypto with cCOP: On December 8, 2024, Celo Colombia hosted an engaging event at Hash House in Medellín to introduce $cCOP, Colombia’s decentralized stablecoin. Attendees learned about $cCOP’s mission, secure wallet integration with Valora, and how to swap it on platforms like Uniswap. The night featured a POAP raffle, giveaways, and a Q&A session on the future of crypto in Colombia. $cCOP is now accepted at Hash House, marking a key step in local crypto adoption.

  • Exploring the Nouniverse with Platohedro and ETHMedellin: This collaborative event invited participants to delve into the Nouniverse, fostering discussions on Web3 technologies and their applications.

  • ReFi Medellín’s Ciclovías with $cCOP: As part of Medellín’s iconic Sunday ciclovías, ReFi Medellín incorporated $cCOP into interactive activities that promoted sustainable and decentralized finance. Participants could use $cCOP in real-world scenarios, such as purchasing refreshments or contributing to local initiatives.

  • Reactivating Urban Gardens with $cCOP: At UVA Ilusión Verde, ReFi Medellín, in partnership with Salvaterra and Fundación EPM, introduced $cCOP to showcase its practical applications. Participants opened wallets on Valora and experienced blockchain-powered transactions. The event raised community awareness about blockchain technology and its opportunities, blending sustainability, innovation, and decentralized finance. Future plans include expanding these initiatives in 2025.

  • Running Club in Bogotá: This event brought together fitness enthusiasts and the crypto community. Attendees could experience $cCOP by participating in a rewards system that incentivized physical activity.

  • Community Meetups: To enhance community engagement and gather valuable feedback on the $cCOP initiative, a structured plan for regular meetups is underway. These meetups are scheduled to commence in the last week of January 2025 and will be held biweekly in major cities across Colombia.

The gatherings will serve as a platform for users to share their experiences, address challenges, and propose ideas for future developments. Insights gained from these events will play a crucial role in shaping the next phases of the project, ensuring that $cCOP evolves in alignment with the community’s needs.

These events have been instrumental in strengthening community bonds, promoting the practical use of $cCOP, and advancing the adoption of decentralized technologies in Colombia.

5. Community Engagement & Crypto Event Outreach

In this area, we’ve focused on engaging with the Celo community by translating and sharing posts about events and opportunities within the Celo ecosystem. These posts inform our audience about important updates, initiatives, and activities, helping them stay connected to the ecosystem.

Event Announcements and Updates: Translating key information and ensuring the community is aware of upcoming Celo-related events.

Opportunities within the Celo Ecosystem: Highlighting initiatives and collaborations that can support the growth of the community.

This approach strengthens Celo’s visibility and engagement within the crypto space.

6. Moving forward for H1 2025

We have designed some strategies which will help us to increase the cCOP awareness, holding and usage across the public.

  1. Cashback campaign. We have partnered with some merchants in Medellín and they will start to offer cashback from the purchases the customers perform with traditional payment methods. To collect the cashback, the customers will have to download a Celo compatible wallet and fill a form. Once they fill it, they receive a percentage of the purchase they did. We collect some information from the customers to be able to communicate with them looking forward to teaching them how to use the cashback and all the opportunities they have with their tokens. The approach will be similar to loyalty programs that people already know but explaining to them that these are far better thanks to the possibility to be used with total freedom.
  2. Marranitos (cCOP staking contract). One of the most important challenges we have been facing is that people that receive cCOP are looking to immediately change for FIAT or USDT. We have partnered with a local developer to create a staking feature for cCOP. This works similar to what banking institutions perform to attract customers; offering a differentiative return rate, people are highly interested in holding their tokens and start using them. While they are using the staking feature, we plan to create new use cases for the token so they have more incentives to hold and promote the token.
  3. Strong associations with merchants. We are designing special programs for merchants that receive cCOP as a payment method. To do so, we have to educate the merchants in the core benefits of using the tokens instead of the traditional financial system. We are looking to move deep in the value chain so they can use the tokens to pay their suppliers as well. That will help the ecosystem to develop and avoid the need to move from chain to off chain in short periods of time, increasing the use of the technology and the Celo network.

7. Conclusion

The latter half of 2024 marked a transformative period for Celo Colombia, highlighted by the successful launch and promotion of the cCOP token. Through a combination of strategic social media engagement and in-person educational initiatives, significant strides were made in advancing financial inclusion and blockchain adoption in Colombia. The experiences and feedback garnered during this period will serve as a foundation for future endeavors aimed at fostering a more inclusive and decentralized financial ecosystem.

15 Likes