This is a great update of everything that the Credit Collective is currently working on when it comes to initiatives in the Celo ecosystem. I wanted to add some extra data on the Carbon DeFi front specifically around its counterpart the Bancor Arb Fast Lane which is also deployed on Celo.
The Arb Fast Lane is an arbitrage framework that integrates all onchain liquidity sources including Carbon DeFi. One of the things that it does is fill Carbon orders when they are “in the money” using other onchain liquidity sources to guarantee good order execution. For Celo specifically, it utilizes sushiswap, uniswap v3, ubeswap v2, and uberswap v3. Outside of guaranteeing good order execution for Carbon DeFi, it also arbitrages onchain liquidity sources against each other (with or without Carbon DeFi) to equilibrate prices in order to maintain price parity across onchain liquidity pools.
The Arb Fast Lane tends to work best with some liquidity on Carbon DeFi and hence why the Credit Collective efforts have led to the following positive results. The first stat that I am sharing is the number of transactions that the Arb Fast Lane has done on a month by month basis:
On average (excluding the month of July 2024 as that was when Carbon DeFi was launched and there was little to no liquidity) the Arb Fast Lane does about 211K transactions that all served to maintain price parity across the different trading venues on Celo.
The next stat is the amount of gas utilized by Arb Fast Lane smart contract on a monthly basis to perform transactions that maintain price parity across trading venues
As Celo transaction fees tend to be relative low cost, the Arb Fast Lane can equilibrate prices a lot quicker since as soon as the arbitrage opportunity is greater than the TX cost, it will go ahead and execute.
In the larger picture, the Arb Fast Lane has come to play an important role and the above manifest itself in the Arb Fast Lane being one of the top smart contracts when it comes to transactions and gas utilization across the entire Celo ecosystem:
When it comes to transactions, it has been in the top 50 for 6 months since its deployment. It is a similar story on the gas utilization side, top 50 for 6 months since deployment. Note that in the month July 2024, Carbon DeFi and the Arb Fast Lane were recently launched and there was little to no liquidity until ramp up. The month of March 2025 is also being ignored as it has not yet concluded.
On which platforms does the Arb Fast Lane operate on?
Below is a list of DEXs that the Arb Fast Lane has incorporated and for each one it has the respective count for how many times the Arb Fast Lane has interacted with that platform up.
| Platform | Platform Count |
|---|---|
| Uniswap_v3 | 1,608,265 |
| Carbon_defi | 1,100,638 |
| was wrapped | 845,088 |
| Ubeswap_v2/3 | 248,863 |
| Sushiswap_v2 | 22,088 |
| Others | 1,938 |
This chart shows the number of arbitrage counts over time for each platform normalized to percentage.
Note: “was wrapped” in this case refers to wrapping and unwrapping of a token.
Why is this important?
Not only is the Arb Fast Lane maintaining price parity across all DEXs on Celo but at the same time it is creating volume and TXs for all these trading venues. This is important since as Celo adoption grows and its TVL increases, then that liquidity will be decentralized across multiple DEXs. Carbon DeFi and the Arb Fast Lane will be here to support both liquidity providers and its onchain liquidity markets across multiple trading venues.