Celsius, the cryptocurrency yield earning platform, has announced the launch of its Rewards explorer which is a tool that will give out all details about all the rewards earned by each user on its platform listed without the user details.
The company has said that this will be the first in the long list of Proof of Community projects that the team is working on, to improve transparency for the activities that are happening on its platform, true to what blockchain is supposed to promote.
“With Rewards Explorer, and our broader Proof of Community project, we want to create as many avenues as possible for Celsius customers to get a look under the hood and foster a culture of transparency,” said Alex Mashinsky, CEO of Celsius. “Blockchain finance and earning passive income on your crypto is still a novel concept for even seasoned crypto holders. So we want to be progressive and lead the industry down a path traditional banking has never provided for its customers. And in doing so earn the trust of new crypto users and fortify the confidence of our Celsius community.”
The company said that the explorer is a kind of dashboard where every user on the platform can see the rewards earned by every other user in the platform in just a few clicks.
These details are already available on the blockchain and hence can be seen on Etherscan but the explorer provides an interactive and easy-to-use dashboard that is very user-friendly. Celsius said that they would be upgrading the explorer and adding more features in the coming months to push the rewards industry into being more transparent.
“I’m thrilled to finally introduce Rewards Explorer to the Celsius community. Bringing this tool to life has been a priority for the product team for over a year,” said Nir Atar, Director of Product. “We’re excited not only for today’s launch but future iterations and products as part of Proof of Community, giving maximum transparency to Celsius customers.”
Celsius has been growing and expanding rapidly over the last few months as it adds more cryptos into its rewards platform. It has also been investing in mining activities and doing a lot of marketing as it pushes ahead with its desire to be the rewards platform of choice for the crypto community. With increased transparency, the company believes that it would be able to attract more users as the trust in the platform would improve as well.