Nauman | Hashleger | Celo

Founder @hashledgerxyz | CFO @celo | ex @coinsph | ex @pwc |

[Nauman | Hashleger | Celo @naumannazim]

@telegram is one of the strongest preference for Web3 builders and founders.

How can Web3 grow in #Pakistan if TG is banned?

Thoughts?

[Nauman | Hashleger | Celo @naumannazim]

One rule before selling a long‑held position:

Set aside a % of your proceeds for taxes before you redeploy. Treat it like it was never yours and park it where you will not touch it.

What unusual crypto or blockchain tax situations have you seen this year?

[Nauman | Hashleger | Celo @naumannazim]

Tax season hit him harder than the Bears did!

He held Bitcoin for years.
New coins launched in 2025.
He sold everything and rotated in.
Every dollar redeployed. Nothing set aside for tax.

[Nauman | Hashleger | Celo @naumannazim]

It does not matter if the next position dumps.
It does not matter if you lose everything after.
The tax authority still wants its share of what you made on the way out. Losses may help, but it is rarely a clean wash, and timing is critical.

[Nauman | Hashleger | Celo @naumannazim]

🫡

[Erik Voorhees @ErikVoorhees]

In crypto and defi (ie in honest markets), when a component fails, those closest to the component—whether wildly negligent or innocent victim—suffer the loss, and are burdened with that responsibility. Unequal, but proper.

In tradfi and banking (ie in coercively manipulated markets), when a component fails, the entire society is forced under the burden of its resolution. Costs are socialized. Equal, but improper.

The former, with time, becomes self-correcting, self-improving, and crucially, retains vitality. The latter, regardless of time, becomes stagnant and soulless, and here everyone can wallow in an equivalent grey.

Any man of agency should prefer the former, taking care over that to which he is proximate. It is from this that the virtue of markets emerges.

[curb @CryptoCurb]

"so you staked your ETH on the Ethereum blockchain to earn yield?"

"yes, Dave"

"except you didn't want your capital to be locked up so you actually staked it with a liquid staking protocol called Lido?"

"that's correct, Dave"

"and Lido gave you a liquid staking receipt token called stETH in return?"

"yes, Dave"

"and then you didn't think that was enough, so you juiced the yield even further by depositing your stETH receipt tokens into a restaking protocol called Eigenlayer?"

"you are correct, Dave"

"and now you didn't want to lock up your capital, so you actually restaked with a liquid restaking protocol called KelpDAO who provided you with a liquid restaking receipt token called rsETH?"

"you got it, Dave"

"and then that was surely not enough juice, so you then deposited your rsETH tokens into a lending protocol called AAVE so that you could open a leveraged looping position that borrows ETH against the rsETH collateral and restakes the ETH into rsETH which is then deposited as collateral, except it turns out rsETH used a cross-chain bridge called LayerZero whose security is held together by a 1/1 toothpick, which was obviously hacked by north koreans causing rsETH to become undercollateralized and now these looping positions are stuck and unprofitable, and everyone is pointing fingers at each other, and also DeFi is a very serious industry"

"you are 100% correct, dave"

jfc.

[HashLedger | Crypto Accounting & Taxes @Hashledgerxyz]

GM and Happy Holidays

[Chilla @chilla_ct]

We’ve seen it time and again: chains that raised massive sums in past cycles, fueled by the hype of being the next Ethereum killer, only to fade as years went by. The list is long, the promises too. Just a few managed to get adoption.

Most have experienced a long, steady decline, while others have been able to react and adapt to a constantly evolving ecosystem that leaves no room for those left behind.

This is why i got curious about a chain that was quite popular at the beginning of 2020, and which, in recent years, following various ups and downs and changes, has been evolving and finding its own place in crypto. While many OG chains have lost their way by not focusing on a specific product, like a spray and pray tactic, @Celo has a different strategy.

Indeed, this may be news to most (me too until very recently, actually), but Celo has seen its revenue increase by 10x since the beginning of 2024. No sudden flashes but linear growth, as shown in the image.

What was initially an independent EVM-compatible L1, in 2024 followed the community's proposal to become an Ethereum L2, leveraging the OP stack and Eigen Layer, to achieve greater security and interoperability and reduce costs. And as you can see from the previous graph, this choice, combined with the focus on specific verticals and distribution, is paying off with user growth.

It seems that, unlike other options, the goal was to become more accessible to emerging markets, where everyday users dominate. So yeah, it’s not surprising the latest stablecoin-focused chains let users pay gas with USDT or USDC (though never with both). But Celo actually did it first, offering both stablecoins instead of just sticking to one.

Perhaps the motivations behind all this stem from a market already saturated with protocols that often move in the same direction, touching on the usual verticals, so strong in the crypto world but still needing to find a real product-market fit in the traditional one, where the total addressable market is way bigger.
While innovation in DeFi, AI, and other areas is crucial for a chain's growth, it seems that putting the fundamentals first in terms of UX has given this solution resilience. Indeed, although the ecosystem's total TVL is around $50M, everyday users keep on growing.

Indeed, after starting to look at the data, i ended up being genuinely surprised by what i discovered. For example, in the last six months, Celo has steadily been in the top three L2s for weekly active users, and averaging 1M WAU in the last two weeks, consolidating its second placement.

While perhaps the most interesting fact is this: Celo has been steadily in first place for the number of daily active addresses compared to the entire Ethereum ecosystem, including mainnet, since November 3rd, after overtaking Base, and steadily positioning itself above 700,000 daily users, as shown by this picture taken from @growthepie_eth.

This can only be evidence of a broader target, potentially with less value exchanged per capita, but with a broad distribution.
And in any case, having Vitamin personally shilling your product must be something, especially considering that Celo is now much more integrated into Ethereum than before, given its new role as L2. This is one of the reasons that made me collaborate with them to objectively show this data.

In any case, the boost that perhaps kick-started this growth was the 2023 integration with @opera. From this partnership, @minipay was born, a non-custodial wallet on Celo that lets users send and receive stablecoins at very low costs, which has onboarded 11M+ users and facilitated 300M+ stablecoin transactions since launch. Along with this, integration with local or traditional payment methods such as cards, transfers, or on/off-ramp services has made this transition smoother for everyday users. And recently, at Binance Blockchain Week, the extension of this partnership was announced.

MiniPay was probably one of the moves that led Celo to greater financial inclusion by interfacing with more emerging markets, increasing its numbers, where Opera is seeing wallet growth hitting 175% YoY with particularly strong expansion in markets like South Africa, Ghana, Kenya, and the US.

Conclusion
There are several ways to reach PMF and find your own loyal user base. This can be through innovative apps, gambling, institutional liquidity, gaming, or through stronger distribution. It seems that Celo is aiming for the widest possible distribution, targeting users where there is a real need for crypto to improve the quality of life.

Ultimately, it's not necessary to invent the new shiny thing to attract users, unless there's a way to distribute the product to a wider audience. Yes, the chain's TVL can't be compared to that of other L2s currently in circulation, but at the same time, the market share is different, and in its own way, Celo, as Vitalik says, has survived all these years in a highly competitive market where people too often think that all infrastructures must have the same end goal.

But this isn't inherently true, given the vast amount of verticals from which chains can choose.
Meanwhile, some are focusing on consumer apps, some on DeFi, some on gaming, and some on payments.

Posterity will choose winners, and losers.

[Nauman | Hashleger | Celo @naumannazim]

$7.5T moves daily in TradFi FX.

Now it moves onchain with @MentoLabs, and I’m part of it.

Claimed my FX ID.

Claimed my FX ID. You?

→ https://t.co/gzzXSbVLFF

[growthepie 🥧📏 @growthepie_eth]

🥧 @Celo reaches new highs in daily active addresses

🔹 722,659 Active Addresses
🔸 +8% in 30 days
🔹 294,164 addresses using Celo Dollar

Search "Celo" on growthepie

[Nauman | Hashleger | Celo @naumannazim]

@bored_mic @BoredApeYC Trippy

[Ari Health @AriInnovation]

🚨Introducing: AriRing Lunar 1 ⭕️

A Web3-based biometric wearable launching soon on @Celo

🧬 Anonymized
🔓 Decentralized
💸 0 subscription fees
🎁 $HLTH rewards built-in

Your data. Your pace. Your ring.

Chapter 1 Pre-Order NFT goes live soon 👀

#DePIN #Wearables #Celo #Web3Health #AriRing #HLTH

[marek.celo.eth 🦇🌳 @marek_]

Interested in learning more about @selfxyz? Here's my talk from #zkSummit 🙌

[Nauman | Hashleger | Celo @naumannazim]

@CBC or @Polymarket

[Polymarket @Polymarket]

What a chart.

[Nauman | Hashleger | Celo @naumannazim]

The tragic loss of 11 lives and the many injured in today’s vehicle attack at Vancouver’s Lapu Lapu Day festival. Having spent a decade in the Philippines, this tragedy strikes close to my heart. My deepest condolences to the victims, their families, and the Filipino Canadian community. We stand united in grief and support. #VancouverStrong

[Blockchain4Good Summit @B4GSummit]

A Multifaceted Approach to Financial Inclusion – Turning Vision into Action fireside chat by:
- @betsabemk , CFO from @hedera
- @naumannazim, CFO from @Celo
- Moderated by Dr Lisa Cameron, UKUS Crypto Alliance

Examine how blockchain technology is shaping financial access for all

[Celo @Celo]

⌛ Just one day until the Blockchain 4 Good virtual summit!

Don't miss panels w/ Celo Foundation's Head of Ecosystem @ivcelo & CFO @naumannazim, joined by ecosystem friends @CeloEurope, @GainForestNow, @VerdaVentures & more!

📆 April 15th - 16th
🎟️ ↓
https://t.co/hTMl39xewT

[marek.celo.eth 🦇🌳 @marek_]

Want to build a business around stablecoin payments? @Celo is the only L2 with both native USDT and USDC. It's also among the cheapest L2s with ERC20 transfers costing less than a tenth of a cent 🙌

[Nauman | Hashleger | Celo @naumannazim]

Hathiraam can dance!!!

[Shilpak. @ugach_kahitarii]

Jaideep Ahlawat my GOAT ♥️🔥