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Cryptocurrencies

What is the CELO Token ($CELO)?

CELO is a proof-of-stake (PoS) token used for transaction fees and governance assets for the CELO community, which has a fixed supply and variable value. With CELO, you can help shape the direction of the CELO Platform, governance participation and related activities. In addition, CELO enables participation on the Platform, with the opportunity to earn rewards through network participation. 

Who created CELO Token?

CELO Foundation.

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How does it work?

CELO aims at providing solutions that can be used by individuals with no knowledge of blockchain or cryptocurrencies . Their simple and highly user-friendly platform will be accessible by low cost devices that have limited internet access. 

CELO is adopting a full-stack approach where each layer of stack is created keeping the above mentioned users in mind along with considering other stakeholders (e.g. nodes operators present in the network) who play a crucial role in enabling the end user experience. 

CELO Benefits

  1. With payments solutions based on top of the CELO Platform, retailers can allow CELO Dollars digitally, online as well as in-person, while even avoiding huge credit card processing fees.
  2. With CELO, companies such as Kotani Pay can reimagine the possibilities of financing by permitting everyone with even a basic feature phone (58% of the market in Africa) to access CELO Dollars to send peer-to-peer payments, save and also take loans.
  3. CELO permits everyone with a mobile phone to immediately send and receive money locally and internationally without the burden of high transaction fees. Users can suitably share CELO Dollars straight on their mobile phones with CELO for as little as $0.01 to virtually anyone all over the world.
What is Celo
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