Celo - A green, mobile-friendly, blockchain
Celo is building the infrastructure for global prosperity.
Concise Crypto
May 13, 2022
Celo (CELO) (cUSD)
What is Celo?
Celo is a blockchain protocol focused on easing the use of cryptocurrencies as a payment method, targeting mainly mobile users. It features two tokens: CELO, used for governance issues, and cUSD, a stablecoin pegged to the price of the US Dollar. In addition to payment tools, it also supports the development of decentralized applications (DApps).
Why does Celo have value?
The Celo ecosystem focuses on bringing decentralized finance (DeFi) protocols to mobile users, easing the process of paying with cryptocurrencies. The blockchain aims to be environmentally friendly with its Proof-of-Stake protocol and has goals to provide financial services, via mobile, to a global user base.
What are the Pros of CELO?
● It is backed by big names and big companies in the cryptocurrency industry.
● Its adoption has grown throughout 2021.
● CELO stakers can get rewards for validating transactions.
What are the Cons of CELO?
● There aren’t many DApps available.
● There haven’t been many projects built on the chain
What are CELO’s tokenomics?
The total supply of CELO is 1 billion. 60% were distributed when the mainnet launched. 12% will be used to keep the price of cUSD stable, and the rest will be released gradually through fees and rewards.
Who founded Celo?
Rene Reinsberg, Marek Olszewski, Sep Kamvar, who have previously worked at GoDaddy, Google, and MIT.
Who are Celo’s investors?
Celo has conducted 6 funding rounds, raising $66.5 million. Top investors are Andreessen Horowitz, Jack Dorsey, Coinbase, Polychain, a16z crypto, 9Yards Capital, Greenfield One, Valor Capital Group, Electric Capital, General Catalyst, Social Capital, and DTCP.
Concise Crypto Grade:
B- :A mobile-first blockchain that is backed by some of the biggest names in the industry; sounds like an instant winner right? Well, not so fast. CELO is unique in that it has both a token and a stablecoin attached to its ecosystem that is helping global users access financial structures. That’s the part we love. Unfortunately, we haven’t seen CELO build out many of the DApps that can benefit the global users of crypto. Over time, with expansion into new markets, and new developers bringing on new projects CELO should see the success that it’s investors are hoping for.
Where can I buy CELO?
Biannce, Coinbase, KuCoin, Gate.io, Bittrex, OKEx.
What ecosystem does CELO run on?
Celo