Lovecrypto is selected by Brazil´s Central Bank to develop interoperability study between Real Digital and Celo

Hey friends. Sharing with you an exciting news:

Our startup, Lovecrypto, was one of 8 projects chosen by Brazil´s Central Bank in the selective Lift Lab 2022 to develop a study about the interoperability of the Real Digital and Celo´s stablecoins.

This marks the begining of our journey to reposition ourselves not just as a Cash In/Out solution, but as an innovation company in the blockchain space.

This was the announcement by the Central Bank of Brazil: Banco Central do Brasil
This is an article in the brazilian crypto media: Itaú e Lovecrypto entre os 6 projetos Lift Lab 2022 com blockchain e que vão de DeFi a Liquidity Pool

I would also like to share that we are raising additional capital in order to increase the team with professors and PHD graduates from our university (UFPE) in order to fund the research and MVP for the interoperability between the Real Digital (CBDC) and the Celo blockchain.

Imagine the things we could build with full interoperability between a CBDC and Celo?
We could, for example:

  • to create a green or social government bond in which, part of the yield would be automagically transfered to ReFi projects on Celo or to Impact Market communities.
  • to allow the Celo treasury to hold Real Digital (CBDC) in its barket.
  • to allow anyone to convert between the brazilian currency and Celo stablecoins at very low cost (0.30% in fees, like most Dexes charge)

If you would like to invest on us, please email [email protected] so I can send you our pitch deck. We are raising $750k USD at a $7.5MM USD valuation.

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Congratulations @edlovecrypto! Exciting news :raised_hands: :partying_face:

Congratulations, everyone!!

Congratulations @edlovecrypto! Let us know if we can help from Mento/Reserve side, happy to support where we can.

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Congrats, Ed! This is super relevant step forward. Everyone: If you want to check the Instagram live where we broke the news, here it is: Celo Brasil on Instagram: "Bate papo incrível com o Ed do app @lovecryptobr que tem como finalidade trazer usabilidade das stablecoins da CELO pro mundo real. Assistam e não deixe de participar da nossa comunidade no telegram."

Cool! How can I contribute with with the project?

Btw: I’ll travel soon by Pernambuco

Thanks, Mila! We want to be an intersection point between the brazilian CBDC and the Celo community. After all, we are the mycellium!

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Thanks, friend. Please shoot me an email at [email protected] and we can meet for a coffee!

Really exciting to see Lovecrypto continue to kill it. Congratulations Ed!

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Hey friends,

Lovecrypto´s team is saying hello from Recife/Brazil!

We are still looking for value aligned investors to join our Seed+ round and give us the extended runway to execute the project for Brazil´s Central Bank to study the interoperability between its CBDC, the Real Digital, and Celo Blockchain.

This is our pitch deck: [ENG] Pitch Lovecrypto - Sep 2022 - Google Slides

If any of you would like to join the round, feel free to email me at [email protected]

Thanks!

Ed

Hey friends. Sharing the most recent news with the LIFT Lab.

We had our second meeting with Brazil´s Central Bank team and agreed on a scope and use case.

You can see the presentation we showed them in this link.

The use case will be to send a tokenized asset (a brazilian bond) from the Real Digital blockchain to Celo´s blockchain, and vice-versa. This MVP can be later expanded to allow any ERC-20 token to be transacted between the two chains. Thus, allowing the atomic and programmatic exchange of fiat to crypto assets. In my estimate, this can lower the cost of cash in/cash out to 0.3%, instead of the 1.5% to 5% what is practiced in Brazil today.