Celo aims to establish an open and accessible financial system, allowing individuals without bank accounts but with smartphones to access financial services.
1. Basic Information
- Issuance Date: May 12, 2020.
- Associated Public Chain: Celo Network.
- Maximum Supply: 1 billion CELO.
- Circulating Supply: 487,448,202 CELO (as of June 10, 2025).
- Listed Exchanges: 27.
2. Project Background
The Celo project was established in 2017 by engineers and designers from companies like Google, Square, and Shopify, with the goal of creating an open and accessible financial system that allows individuals without bank accounts but with smartphones to access financial services.
3. Technical Features
- Stablecoin Mechanism: Issued cUSD pegged to the US dollar and cEUR pegged to the euro, providing a low-volatility trading medium.
- Decentralized Finance (DeFi) Support: Users can engage in lending, trading, and other financial services on the platform, executed automatically through smart contracts.
- Low Transaction Fees: Optimized blockchain protocols and the use of stablecoins reduce transaction costs, making small transactions economically viable.
- Scalability: Utilizes sharding technology to divide the network into multiple parts for independent transaction processing, enhancing overall processing capacity.
- Privacy Protection: Employs technologies such as zero-knowledge proofs, allowing users to complete asset transactions and inquiries anonymously.
4. Application Scenarios
- Payment Sector: Can be used as a payment method for global transfers, shopping, and other transactions, simplifying cross-border payment processes, reducing costs, and increasing speed.
- Savings Function: Users can deposit CELO into the Celo platform's savings contracts to earn returns.
- Platform Governance: CELO holders can participate in the governance of the Celo platform and vote on important decisions.
- Identity Verification: Provides a decentralized identity verification mechanism, allowing users to authenticate through phone numbers or social media accounts, reducing the cost of identity verification.
5. Market Performance
- Historical Highest Price: $10.39 (August 31, 2021).
- Historical Lowest Price: $0.25 (April 7, 2025).
- Price on June 10, 2025: $0.3304, with a circulating market cap of approximately $330 million.