It’s official: Celo Mainnet is here

Celo native asset transfers enabled via on-chain governance

cLabs
cLabs
May 18, 2020 · 3 min read

We’re excited to share that today, Release Candidate 1 that was launched on Earth Day, April 22, is officially Mainnet! Two and a half years in the making, this milestone enables CELO transfers — solidifying the value of the Celo network.

The Celo network was made possible because of the commitment, passion, expertise, and engagement of over 100 independent validators around the world. Meet some of the people behind the Mainnet launch.

Anticipated next steps for the Celo Platform include: bringing off-chain prices for CELO on-chain through a series of Oracles, Celo Dollars going live, and finally, Mainnet release of the Celo Wallet.

Aligned with Celo’s mission, last week, an auction of CELO was held on CoinList to give people around the world an opportunity to join and participate in the Celo community pre-launch. The oversubscribed CELO auction raised $10M from the community and introduced a diverse set of participants to the Celo ecosystem. There were 3,996 total registrations and 761 bids from 132 countries. The average bid price was $5.02, with more than 50% of the bids coming in above $3 and more than 25% of the bids coming in above $9. Participants included people who want to run validators on the Celo network and individuals who want to see Celo’s mission come to life — and we loved the fairness of the auction process. Even though many were willing to pay more, all auction participants received the same price of $1.

From the beginning, Celo.org was always intended to be a non-profit, mission-aligned organization, so we are very pleased to make that a reality. As of this week, the Celo Foundation is officially a stand-alone, non-stock, non-profit organization based in the U.S. that supports the growth and development of the open-source Celo Platform. Guided by the Celo community tenets, the Foundation contributes to education, technical research, environmental health, community engagement, and ecosystem outreach — activities that support and encourage an inclusive financial system that creates the conditions for prosperity for everyone. You can continue to find information about the Foundation at celo.org.

We already have 130 applicants for Wave II grants. Applications close tomorrow so submit your application ASAP.

News from the Alliance for Prosperity

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These exciting moments pave the way for global participation in the Celo ecosystem. Join us to celebrate via an upcoming online event.

Thank you all for helping make today possible.

Receive updates on Celo by signing up for the Celo newsletter: https://celo.activehosted.com/f/4

The Celo Blog

Celo is an open platform that makes financial tools…

The Celo Blog

Celo is an open platform that makes financial tools accessible to anyone with a mobile phone. Visit celo.org for info on the community, contributors, and technology.

cLabs

Written by

cLabs

Building financial technology to enable prosperity of all beings. cLabs started Celo in 2018 and is one of many contributors to the open source project.

The Celo Blog

Celo is an open platform that makes financial tools accessible to anyone with a mobile phone. Visit celo.org for info on the community, contributors, and technology.