We're pleased to announce that imToken now supports Celo, an EVM-compatible chain aiming to “build a financial system that creates the conditions for prosperity—for everyone.”
Benefits of using Celo with imToken
- Switch quickly between Ethereum and Celo without setting up RPC manually
- Explore and interact with Celo DApps by entering “DApp” with one click
Getting started
First, download imToken wallet via https://token.im.
Launch imToken after the installation is complete, click "Create Identity" and fill in your identity name and wallet password.
Next, click "Create", write down the mnemonic (i.e. 12 English words) with pen and paper and keep it in a safe place. Confirm the mnemonic in order again and click "Next" to finish the Identity creation.
Note: Never share your mnemonic with anyone. Anyone who has your mnemonic could send tokens out of your wallet without your consent.
Switching to Celo wallet
Open your ETH wallet and click “Ethereum” at the top. Choose “Celo” in the pop-up to switch to the Celo wallet.
Receiving and Transferring Assets
After switching to the Celo wallet, click “Transfer” or “Receive” on the asset page to perform corresponding operations.
Receiving Assets
Click “Receive” and share your QR code with or send the wallet address to the other party to receive assets.
Transferring Assets
Click “Transfer”, select the asset to be transferred and enter the recipient's address and amount.
Note: please make sure you have sufficient CELO in your wallet to pay Gas fee before transferring.
Switching Back to ETH Wallet
On the wallet page, click “Celo” at the top and choose “Ethereum” to get back to your ETH wallet.
Yield farming on Celo
Leading Ethereum DeFi projects such as PoolTogether and Sushi have already joined Celo. Click “ DApp” on the asset page to see the most popular DApps built on Celo.
DeFi powerhouse Sushi has committed $12.6 million in initial joint liquidity mining with Celo, and you can provide liquidity for the following pairs to get mining rewards in both CELO and SUSHI.
- WETH / CELO
- WETH / cUSD
- WETH / cEUR
- cEUR / cUSD
Next, we’ll take Sushi as a walkthrough example for yield farming.
How to earn rewards on Sushi？
Bridging tokens
- Open imToken ETH wallet and switch to the browser page
- Enter https://optics.app/ in the search box and open the DApp
- Send tokens (ETH, CELO, USD,EUR) from your Ethereum wallet to the Celo wallet
Alternatively, head over to any available exchange to purchase some tokens and withdraw them to the Celo wallet.
Providing liquidity
- Back to the homepage of imToken and switch to Celo wallet
- Click “DApp” -> “Sushi”
- Click “Liquidity” and input the token and amount you want to deposit
- Approve Sushi to access your tokens from your wallet.
- Click “Supply” -> “Confirm Supply”
- Approve the transaction and wait for the transaction to be confirmed. Once the transaction goes through, you should receive LP tokens in your wallet.
- Input the amount of LP tokens you want to add to the farm and approve the transaction.
- Approve Sushi to spend your SLP tokens and click “Deposit”
- Confirm the transaction
- Done!
Congrats! Now you are a SUSHI farmer 😊
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For best security on large amounts of crypto, consider our hardware wallet, imKey. imKey also supports EVM-compatible chains and allows users to use Celo wallet.
Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Digital asset investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.