CELO enables participation on the Platform, with the opportunity to earn rewards through network participation. CELO's stability mechanism and token economics are designed in such a way that demand for CELO directly increases as demand for Celo Dollars (cUSD) and other stable value assets increases.
CELO is a native cryptographic digital asset created at the mainnet release of the Celo Platform.
CELO is a utility and governance asset required to participate on the Celo Platform. Some uses include:
Running a validator to secure and operate aspects of the Celo Platform
Voting for validators working to secure and operate the Celo Platform
Participating in governance decisions to influence the future of the Celo Platform
Supporting applications on the platform
cGLD forms part of the overcollateralized reserve that supports the Celo stable value assets (initially Celo Dollar or cUSD).
The Celo Protocol automatically adds CELO to the reserve whenever the Celo stable value asset supply increases.Read More