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Blockchain platform Celo has suspended work on block #14,035,018. The project team reported that users’ funds are safe.
The Celo network has stalled at block 14,035,19. Validators are working to identify and resolve the issue. All funds are safe. Updates will be provided as soon as possible.
— Celo (@CeloOrg) July 14, 2022
According to the Celoscan reviewer, the network has not produced blocks for more than seven hours. According to the developers, blockchain validators are studying the problem and looking for solutions.
Shortly before the incident, the decentralized exchange Uniswap v3 deployed its smart contracts on the Celo network.
It’s officially #ReFiSummer 🌱🌞@CeloOrg is now available on the Uniswap interface, joining @ethereum, @optimismFND, @arbitrum, and @0xPolygon.
Start swapping today 👇https://t.co/wpJdNvo19P https://t.co/DGRx7FTQSY
— Uniswap Labs 🦄 (@Uniswap) July 13, 2022
Celo is positioned as a “mobile-centric” and “carbon-negative” blockchain. The EVM-compliant network has 2.6 million addresses with 1.1 million daily transactions on average. Through the Mento smart contract platform, the project supports several algorithmic stablecoins.
The deployment of the Uniswap v3 protocol in the network involves the creation of liquidity pools of “green assets” from Celo, such as tokenized carbon credits.
The non-profit organization Celo Foundation, which is behind the development of the blockchain platform, also promised to launch a program to stimulate Uniswap users for $ 10 million and provide the exchange with additional financial assistance in the future.
Quotes of the native celo token (CELO) practically did not react to the incident. Over the past day, the price of the asset has increased by 2.2%, according to CoinGecko.
Recall that in July 2022, hackers attacked liquidity providers Uniswap through a fake airdrop.
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