Estimated Price $1.00 per cGLD
The Thesis
Tech: A PoS Layer-1 Protocol with Ethereum Compatibility
Celo is a permissionless Proof of Stake (Pos) layer–1 smart contract platform with EVM (Ethereum Virtual Machine) compatibility on day one. Currently, Tezos, Cosmos, and Algorand are among the few permissionless PoS networks that are live. Celo’s EVM compatibility gives it an advantage in collaborating with the Ethereum ecosystem and creating cross–chain applications relative to other layer–1 chains.
Product: A Consumer-focused Strategy for Wide Stablecoin Adoption
Celo’s focus on supporting a great mobile experience sets it up to drive adoption of the payment system in emerging markets. This could massively expand the stablecoin market - to date, stablecoins have primarily been used as trading instruments in crypto markets. This market is large and growing and we believe the Celo Platform can significantly expand it. The recently announced Alliance for Prosperity, with over 50 organizations committed to supporting the Celo Platform, has a reach of over 400 million people.
Economics: A Compelling Economic Model for Participation
Celo Gold 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 cGLD directly increases as demand for Celo Dollars (cUSD) and other stable value assets increases.
Bring Open Finance to 6 Billion People
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1Lightweight identity and an ultralight client for a better user experience.
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2Stability mechanism for stable-value currencies
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3Incentives and an on-chain governance system for platform sustainability
Celo Platform Features
Contributors
Backers
Alliance Members
Celo In The News
Auction Details
| Asset | Celo Gold (“cGLD”) |
| Auction Type | Dutch Auction |
| Key Auction Dates |
|
| Starting Bid | $12.00 per cGLD |
| Reserve Price (i.e. price floor) | $1.00 per cGLD |
| Minimum Bid | $100 Minimum Contribution |
| Amount of cGLD Available in the Auction | 10M cGLD for purchase, plus an additional 3.5M units to facilitate the auction and referral bonuses. |
| Bonuses |
Referral: Earn 50 cGLD for each person you refer that successfully participates
in the dutch auction, up to a maximum of 500 cGLD per person.
Auction: For every 2 cGLD purchased, you get 1 cGLD bonus up to 5,000 cGLD purchased (maximum bonus of 2,500 cGLD). See FAQ for more details. |
| Circulating supply at launch | Estimated circulating supply in the first year is 200 million cGLD (please see here for more details) |
| Lock-Up Period | 60-day lock-up |
| Lock Up Schedule | 12 Months, with the first 10% available to transfer after 60 days and then each incremental 10 % unlocked every 30 days thereafter. Locked cGLD is still available to participate in governance. |
| Eligible Participants | Non-US Participants, additional jurisdictional restrictions apply |
About the CoinList auction for cGLD
What is Celo Gold ("cGLD")?
cGLD is a native cryptographic digital asset created at the mainnet release of the Celo Platform. cGLD has no relationship to physical gold.
cGLD 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 cGLD to the reserve whenever the Celo stable value asset supply increases.
What is the CoinList auction for cGLD?
cGLD will be available for purchase via a dutch auction hosted by CoinList to non-US residents1.
The final price for cGLD will be the highest price at which all valid bids clear. All successful auction participants will pay the same closing price. For more information on how the dutch auction works click here.
1Additional excluded jurisdictions include ANY OF UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES), CANADA, DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA, CUBA, SYRIA, IRAN, SUDAN, CRIMEA, PEOPLE’S REPUBLIC OF CHINA, OR JURISDICTIONS WITH STRATEGIC ANTI-MONEY LAUNDERING / COUNTER-FINANCING OF TERRORISM DEFICIENCIES MOST RECENTLY IDENTIFIED BY THE FINANCIAL ACTION TASK FORCE, AND JURISDICTIONS IN WHICH THE AUCTIONS ARE PROHIBITED, RESTRICTED OR UNAUTHORISED IN ANY FORM OR MANNER WHETHER IN FULL OR IN PART UNDER THE LAWS, REGULATORY REQUIREMENTS OR RULES IN SUCH JURISDICTION.
Who is eligible to participate in this auction?
The CoinList auction is only available to non-US residents and residents of non-restricted jurisdictions2.
2Additional excluded jurisdictions include ANY OF UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES), CANADA, DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA, CUBA, SYRIA, IRAN, SUDAN, CRIMEA, PEOPLE'S REPUBLIC OF CHINA, OR JURISDICTIONS WITH STRATEGIC ANTI-MONEY LAUNDERING / COUNTER-FINANCING OF TERRORISM DEFICIENCIES MOST RECENTLY IDENTIFIED BY THE FINANCIAL ACTION TASK FORCE, AND JURISDICTIONS IN WHICH THE AUCTIONS ARE PROHIBITED, RESTRICTED OR UNAUTHORISED IN ANY FORM OR MANNER WHETHER IN FULL OR IN PART UNDER THE LAWS, REGULATORY REQUIREMENTS OR RULES IN SUCH JURISDICTION.
When is the CoinList auction happening? How long will the auction take place?
Registration is open for the auction now. Only registered bidders may participate and registration may take several days. You must also set up and fund your auction account in order to place bids. Starting one week before the auction you can pre-bid for a better chance to purchase cGLD. Please register to stay up to date on all things related to the cGLD auction. Once the auction begins, it will take place over a 12 hour period.
Can you tell me more about the auction bonus?
What is the referral bonus?
About Celo
What are the benefits of the Celo Platform, and what technology innovations differentiate Celo from other blockchain projects?
- Celo takes a mobile-first approach that provides the opportunity to positively impact 5.6B+ smartphone owners globally
- Celo’s technology innovations allow it to truly work across devices, carriers, & countries
- Celo is supported by a mission-aligned network of technologists, international NGOs, and organizations who have contributed to the code and operations of the Platform and/or committed to building an inclusive, better financial system
Celo’s technology innovations
Unlike other blockchain projects, a standard smartphone can function as a node on the Celo network. This unique innovation is possible through Fast Sync for Ultra-Light Clients that make block headers optimized for fast mobile phone synchronization. This makes Celo over 17000x lighter than other blockchains
The possibility for a simplified interface - Phone Number PKI: a lightweight identity protocol that maps hashes of phone numbers to public keys—making it easy for anyone with a mobile phone to send and receive digital currencies to anyone in the world
Transaction fees (“Gas”) payable in multiple currencies: Option to pay transaction fees in stable value assets, enabling a simplified user experience
How does the Celo Platform work?
How does staking work and what are the rewards?
By participating in Celo, you can earn rewards by staking cGLD to run a validator or to participate in governance, governance on the Celo network is different with governance voting for validators (rewards) and voting for protocol upgrade proposals (no rewards).
Celo Validator rewards are designed to be competitive with other proof-of-stake networks. Users running Validators in the Celo network can expect to receive: ~6% cGLD voting reward for cGLD locked by validator and validator group, and Up to 75,000 cUSD in epoch rewards annually for every Validator that they run
Can you share some recent updates on The Great Celo Stakeoff?
Celo’s incentivized testnet, The Great Celo Stakeoff, featured many of the most sophisticated global validators with over 400 external registrations. Participants offered a wide variety of community, technical & educational contributions to the protocol. Due to ongoing community demand, the validator cap expanded beyond the initial 100.
Some of the metrics from the incentivized testnet:
- 180+ fauceted teams
- 100+ active teams
- 260+ registered validators
- 56 security audits (Celo was the first PoS network to do testnet security audits)
- 120 validators elected (note that none of these validators are affiliated with the cLabs team - they are truly independent)
- 0 cLabs validators elected
- 800,000+ blocks
Can you tell us more about any teams already building on Celo?
There are over 130 teams participating in the Celo Ecosystem through ongoing initiatives, including CeloCamp, Celo Grant Program, and the Polychain Ecosystem Fund, a joint venture with Polychain. Some example projects include (but are not limited to):
- In Brazil, an organization is building a solution on Celo that enables Brazilians to earn money by performing tasks, sharing contact information, answer surveys or giving feedback on a product.
- An organization in Mexico is providing solutions via the Celo platform so migrant workers are able to support family members back at home
- Another organization is empowering overseas Filipino workers to take care of their family's needs by offering an easier, faster and cheaper way to send remittances
What relationship does cGLD have with the Celo Dollar (cUSD)?
cGLD forms part of the overcollateralized reserve that supports Celo stable value assets. The first stable value asset - or stablecoin - on Celo is the cUSD. cUSD is soft pegged to the value of the US Dollar via a programmatic rebalancing protocol.
cGLD is used in the expansion and contraction of the Celo stable value asset supply. To maintain stability of cUSD, the protocol sets incentives for users to adjust cUSD supply to match cUSD demand at the price peg.
A central feature of Celo is that users both create and redeem cUSD by sending 1 US Dollar’s worth of cGLD or 1 cUSD to reserve smart contracts where cGLD and cUSD can be swapped on-chain.
What is the allocation of cGLD over time? Where can I learn more about cGLD’s digital asset economics?
Will the Celo reserve holdings be made public?
Who is managing the Celo reserve at launch?
