CoinDesk • May 10, 24
Celo Community Ratifies Plan to Use Optimism's OP Stack for New Layer-2 Chain
The vote passed with overwhelming support, with 65 addresses representing 14.6 million CELO tokens signaling approval for the measure.
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Celo is the core utility, reserve, staking, and governance asset for the Celo platform. The platform aims to make financial tools borderless, easy to use, and accessible for anyone with a mobile phone.
Celo is a permissionless blockchain that contributes to its carbon-negative status, with the intention of fostering a more inclusive financial system. It is designed to be accessible to anyone with a mobile phone, aiming to cater to a large global user base. The Celo ecosystem includes a decentralized, proof-of-stake blockchain technology stack (the Celo platform), the CELO governance asset, and several stable assets (cUSD, cEUR, cREAL) that facilitate the use of digital assets. Celo's mainnet was launched on Earth Day 2020, demonstrating its commitment to environmental sustainability. The platform supports a multitude of projects in numerous countries, all with the goal of creating conditions of prosperity.
Celo operates using a proof-of-stake consensus mechanism, which requires significantly less energy than proof-of-work chains, contributing to its carbon-negative status. The platform supports the CELO governance asset and other ERC-20 stable assets, which can be used to pay for transaction fees. Celo's mobile-first design intends to cater to a large global user base. This includes a light-client syncing mechanism called Plumo, which allows Celo mobile and resource-constrained users to sync to the Celo blockchain faster, using only a few kilobytes of data. The platform also maps encrypted phone numbers to wallet addresses, aiming to simplify transactions on the blockchain for users of all experience levels.
Celo seeks to bring the regenerative finance (ReFi) movement mainstream by accelerating global financial inclusion, community commerce, and climate-positive technology across multiple ecosystems in parallel. Its mobile-first design can help reach a large global user base, aiming to cater to a variety of needs. The platform supports a multitude of projects in numerous countries, all with the goal of creating conditions of prosperity. Celo's features, such as its light-client syncing mechanism and the mapping of encrypted phone numbers to wallet addresses, aim to simplify transactions on the blockchain, potentially enabling a variety of use cases.
Celo was co-founded in 2017 by Rene Reinsberg, Marek Olszewski, and Sep Kamvar. Rene Reinsberg is now the President of the Celo Foundation, while Marek Olszewski serves as the current Chief Technology Officer at cLabs. Sep Kamvar is a computer scientist, artist, and former professor at MIT Media Lab. The open-source Celo mainnet was launched on Earth Day 2020, demonstrating the platform's commitment to environmental sustainability. Today, the platform supports a multitude of projects in numerous countries, all with the goal of creating conditions of prosperity.
The Celo Dollar (cUSD) is designed with the intention of tracking the value of the US Dollar, intended to offer a digital equivalent with an aim for stability and accessibility. The cUSD is a key component of the Celo platform, which strives to make financial tools and services more accessible to anyone with a smartphone. The cUSD is associated with a reserve of assets, including the native asset of the Celo Network, CELO, with the intention of maintaining its value. This reserve seeks to maintain the stability of the cUSD, with the aim of keeping it pegged to the US dollar. The cUSD is designed for ease of use, enabling users to engage in transactions and transfer of value using the Celo platform. It plays a role in the Celo ecosystem, facilitating transactions and serving as a medium of exchange and a potential store of value.
Celo's proof-of-stake (PoS) consensus mechanism aims to contribute to network security by incentivizing validators to act in the network's interest. Validators, who are responsible for confirming transactions and securing the network, are selected based on the amount of Celo Gold they are willing to allocate. This allocation process demonstrates the validators' commitment to the network's security. If they act maliciously or fail to perform their duties, their allocated Celo Gold is at risk. This system intends to encourage validators to maintain the network's integrity and discourage dishonest behavior. Celo's Byzantine Fault Tolerance (BFT) consensus algorithm seeks to ensure that the network can function smoothly as long as two-thirds of the nodes are honest and operational. This fault tolerance mechanism intends to make the Celo network more resilient against disruptions and maintain its integrity even in challenging conditions. Celo's democratic approach to validator elections, where Celo token holders vote for validators, spreads the power to secure the network among various participants, with the intention of improving its security.
The CELO token is the native digital asset of the Celo platform and plays a crucial role in its operation and governance. It functions as a utility, reserve, staking, and governance asset within the Celo ecosystem. As a utility, CELO is instrumental in stabilization, ensuring the consistent circulation of stablecoins that circulate and transact on Celo. It acts as the primary reserve asset in Celo's stability mechanism, allowing platform-native stablecoins like Celo Dollars (cUSD) and Celo Euros (cEUR) to algorithmically follow the value of their namesake currencies. In terms of governance, CELO holders have the ability to vote on governance proposals that direct how the core technology operates, both presently and in the future. This process facilitates the management and potential upgrade of the protocol, including upgrading smart contracts, adding new stable currencies, or modifying the reserve target asset allocation. Lastly, in the context of staking, CELO is required by validators participating in Celo's Proof-of-Stake (PoS) consensus protocol. Validators stake CELO as a signal of participation in confirming transactions on the blockchain, receiving Celo Dollars (cUSD) as non-financial incentives to cover costs in return.
Celo is a blockchain platform that adopts a mobile-first approach, prioritizing mobile accessibility and usability. Celo recognizes the significant role that mobile technology plays in today's world, particularly in developing regions where access to traditional financial services may be limited. With over 5 billion mobile phone users globally, Celo seeks to tap into this widespread accessibility to provide financial services to the unbanked and underbanked populations. Through its mobile-first approach, Celo aims to provide an experience that is easy to navigate and is tailored to mobile devices. By designing their applications and services specifically for mobile platforms, Celo intends to make its financial tools accessible and usable from the convenience of their smartphones. This approach seeks to address barriers such as the need for expensive hardware or unreliable internet connections, aiming to make financial services more accessible to a broader range of individuals. Celo’s mobile-first strategy also enables efficient peer-to-peer transactions. By utilizing mobile devices, users may be able to send and receive digital currencies.
Celo aims to achieve this through its identity protocol, which allows users to associate their phone number with one or more addresses on the Celo blockchain. This means users can find each other on the Celo network using phone numbers instead of complex hexadecimal addresses. When a user wants to send a payment to someone in their phone's address book, the mobile client looks up the identifier for that phone number on-chain to find the corresponding Celo blockchain address. To preserve the privacy of phone numbers and addresses, Celo created the Oblivious Decentralized Identifier Service (ODIS). This service provides a unique identifier derived from the user's phone number and a secret pepper. The pepper is requested from ODIS by the mobile wallet, which then uses it to compute the unique identifier used on-chain. This system aims to prevent anyone from associating phone numbers with blockchain accounts and balances, and it intends to enhance user privacy.
Several initiatives and projects have been built on the Celo blockchain to enhance its utility. These include Valora, a mobile wallet and payment app that enables users to transfer and receive Celo Dollar stablecoin (cUSD) and the Celo cryptocurrency (CELO). A decentralized platform built on the Celo blockchain facilitates the trading of various cryptocurrencies. Moola Market is a non-custodial liquidity protocol that aims to democratize access to non-monetary rewards and credit. cLabs, the team behind the Celo blockchain, focuses on building and improving the Celo ecosystem by developing core infrastructure, tools, and applications. HaloFi, formerly known as GoodGhosting, is a DeFi app that aims to assist users in achieving non-monetary objectives through gamification. Mobius is a cross-chain stable swap exchange built on Celo. Symmetric is an Automated Market Maker (AMM) and a Decentralized Exchange (DEX), running on the Celo and Gnosis networks. ReSource is a decentralized protocol for mutual credit and multilateral exchange. ValuesCo was created to inspire actions that have true value for both people and the planet. ImpactMarket is a decentralized human empowerment protocol. Kotani Pay is Africa’s most reliable blockchain off-ramp service. GoodDollar is a protocol that aims to make crypto accessible and useful to anyone who wants it by creating non-monetary incentives as a public good. These projects aim to offer improvements within traditional finance and strive to enable greater financial inclusion for underserved communities.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
$421.6M
$24.8M
536.7M CGLD
24 days
#153
$11.00
+1.42%
-3.56%
-3.58%
-1.62%
-24.25%
+53.89%
CoinDesk • May 10, 24
Celo Community Ratifies Plan to Use Optimism's OP Stack for New Layer-2 Chain
The vote passed with overwhelming support, with 65 addresses representing 14.6 million CELO tokens signaling approval for the measure.
Read more
Messari • May 02, 24
State of Celo Q1 2024
Celo’s capabilities to support payment and other real-world applications took a notable stride in Q1 with the integrations of native USDC and USDT. Subsequent proposals were passed to enable users to pay transaction fees in those native stablecoins. One of the standout payments applications on Ce...
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The Block • Jul 14, 22
Celo blockchain suffers a critical network outage
The Celo blockchain is facing downtime after the production of new blocks on the network stopped all of a sudden.
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Celo Team • Jun 08, 22
Celo-Mercy Corps Ventures Pilot Highlights How DeFi on Celo Empowers Farmers in Kenya
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Celo Team • May 18, 22
The Celo Foundation Annual Report 2021 Celebrates Growth, Impact, and Transparency
Read more
Celo Team • May 09, 22
Celo Camp Batch 5 Teams Announced
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A selection of conversions from different assets to top cryptocurrencies.
A selection of conversions for different assets and currencies.
ICP - MGA
Internet Computer - Malagasy Ariary
SEI - XDR
Sei - Special Drawing Rights
GMT - HKD
STEPN - Hong Kong Dollar
MEDIA - INR
Media Network - Indian Rupee
MSOL - MWK
Marinade Staked SOL - Malawian Kwacha
OSMO - GBP
Osmosis - British Pound
ETC - GGP
Ethereum Classic - Guernsey Pound
SOL - HTG
Solana - Haitian Gourde
DOT - TZS
Polkadot - Tanzanian Shilling
RONIN - BRL
Ronin - Real
XLM - JMD
Stellar Lumens - Jamaican Dollar
SUI - KES
SUI - Kenyan Shilling
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
A selection of cryptocurrencies in the top 50 by market cap.
Of all the assets on Coinbase, these 12 are the closest to Celo in market cap.
Here is a selection of spot and futures markets that people watch
CGLD/CAD (Canadian Dollar)
CA$1.08
CGLD/JPY (Japanese Yen)
¥123.21
CGLD/INR (Indian Rupee)
₹66.09
CGLD/BRL (Real)
R$4.08
CGLD/EUR (Euro)
€0.73
CGLD/NGN (Nigerian Naira)
NGN 1,131.29
CGLD/KRW (South Korean Won)
₩1,084.56
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The price of Celo has increased by 1.42% in the last hour and decreased by 3.56% in the past 24 hours. Celo’s price has also fallen by 3.58% in the past week. The current price is $0.79 per CGLD with a 24-hour trading volume of $24.79M. Currently, Celo is valued at 92.81% below its all time high of $11.00. This all-time high was the highest price paid for Celo since its launch.
The current circulating supply of Celo is 536,677,480 CGLD which means that Celo has as total market cap of 536,677,480.
We update our Celo to USD currency in real-time. Get the live price of Celo on Coinbase.
The current market cap of Celo is $421.63M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Celo is $11.00. This all-time high is highest price paid for Celo since it was launched.
Over the last 24 hours, the trading volume of Celo is $24.79M.
Assets that have a similar market cap to Celo include Ocean Protocol, PAX Gold, Zilliqa, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Celo is 537 million.
The median time that Coinbase customers hold Celo before selling it or sending it to another account or address is 24 days.
Celo ranks 28 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 77% of Coinbase users are buying Celo. In other words, 77% of Coinbase customers have increased their net position in Celo over the past 24 hours through trading.
Yes, Celo is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Celo guide.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.