PANews, March 19: According to CoinDesk, browser company Opera (OPRA) has proposed replacing its quarterly U.S. dollar cash subsidy with a one-time allocation of 160 million CELO tokens over three years. This stake represents approximately 27% of the current circulating supply of around 600 million CELO and 16% of the maximum total supply of 1 billion CELO. The tokens will be transferred in a single transaction from the Celo treasury to a Safe controlled by Opera, with voting rights capped at 10% of the total staked CELO. According to CoinMarketCap data, CELO is currently trading at approximately $0.07, a significant decline from its all-time high of over $6 in 2021. Opera stated that this arrangement reflects the role of its self-custodial wallet, MiniPay, on the Celo network. Since its launch in 2023, MiniPay has acquired over 14 million registered users across 66 countries and processed more than 420 million transactions.
Opera Proposes to Acquire 160 Million CELO Tokens Over Three Years, Could Become a Major Celo Stakeholder
PANewsShare
Summary
Opera (OPRA) has proposed to receive 160 million CELO tokens over three years via on-chain news updates, in exchange for its quarterly USD cash subsidy from Celo. The tokens, representing 27% of the current 600 million circulating supply and 16% of the 1 billion maximum supply, will be held in a Safe controlled by Opera. Voting power will be capped at 10% of the total staked CELO. MiniPay, Opera’s self-custody wallet on Celo, has over 14 million registered users across 66 countries and has processed more than 420 million transactions since its 2023 launch, with no signs of an exchange hack.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.