Hassan Maishera
On Friday, the Celo Foundation announced via a blog post that it has proposed a restructuring of commercial partnership terms. The proposal recommends transitioning from a US Dollar-denominated quarterly grant model to an allocation of 160 million CELO, giving Opera a long-term incentive to support the ecosystem’s success as a key stakeholder.
Subject to Celo community governance approval, the existing USD-denominated partnership would be replaced with an allocation of 160M CELO, deepening Opera’s alignment with the Celo ecosystem’s long-term success.
Celo added that the restructured terms reflect the scale and maturity of the partnership, and Opera’s genuine belief and commitment to the long-term value of the Celo ecosystem and its native governance token, CELO.
Since MiniPay’s launch, Opera and Celo have expanded the self-custodial stablecoin wallet to serve 66+ countries, facilitating over 400 million transactions, and growing to more than 14 million users.
Opera and Celo Core Co. will build their presence in Latin America and Southeast Asia with a roadshow to drive grassroots adoption and grow the Mini App ecosystem, beginning in Vietnam and the Philippines next month.
Celo is an open platform that supports various distributed applications, smart contract development, and payments using e-mail addresses and phone numbers as public keys. Celo is a carbon-negative, permissionless, blockchain with a rich ecosystem of global partners building innovative Web3 dapps to support a more inclusive financial system. Accessible to anyone with a mobile phone, the Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack (the Celo platform), CELO governance asset, and several Mento stable assets (cUSD, cEUR, cREAL) that allow for real-world users to use digital assets. The open source Celo mainnet launched on Earth Day 2020.
CELO is down 4.98% in the last 24 hours and currently trades at $0.07778.
