CELO
Summary of CELO and the value it provides to the community.
Platform-Native Digital Asset
CELO is the platform-native asset that supports the growth and development of the Celo blockchain and ecosystem. CELO holders can earn rewards, stake with validators, and vote on proposals that shape the future of Celo.
CELO aligns incentives of Celo stakeholders
- Celo’s native asset is the core utility, reserve, staking, and governance asset
- CELO has a fixed supply and variable value, related to the use of the platform, governance and the amount of stablecoins in use.
Utility
CELO’s primary function is stabilization, ensuring the healthy velocity of stablecoins that globally circulate and transact on Celo. Serving as the primary reserve asset in Celo’s groundbreaking stability mechanism (Mento), CELO allows platform-native Mento stablecoins like Celo Dollars (cUSD) and Celo Euros (cEUR) to algorithmically follow the value of their namesake currencies.
Governance
CELO plays a critical role in the governance of the Celo platform and technology. Anyone who holds any amount of CELO is empowered to vote on governance proposals that direct how the core technology operates today and in the future.
Staking
Leading the industry in energy-efficient, carbon neutral blockchain technology, Celo’s energy-efficiency is born out of its Proof-of-Stake (PoS) consensus protocol, requiring it’s daily elected validators to stake CELO as a signal of participation in confirming transactions on the blockchain, earning Celo Dollars (cUSD) as compensation to cover costs in return.