After elevating $40 million to fund its blockchain platform, The Celo Foundation introduced the launch of Mainnet, the sequent step of permitting transfers of its Celo Gold tokens.
In a Medium weblog posted on May 19, Celo mentioned transfers of Celo Gold (cGLD), an ERC-20 token, are actually enabled through on-chain governance, that means exchanges are free to combine with the platform. The firm thanked the commitment, passion, expertise, and engagement of over 100 independent validators around the world for making the community potential.
Celo raised $30 million in 2020
Cointelegraph according that The Celo Foundation raised $10 million for the community in a dutch public sale on CoinList on May 12. The public sale offered out inside 12 hours, with cGLD tokens promoting for $1 every. With the launch of Mainnet, public sale individuals can now ship and obtain these cash.
However, the cash in on hand raised from the most recent public sale comprise only a quarter of the entire holding invested in Celo. The firm raised $30 million for its blockchain platform from corporations together with Polychain Capital and Andressen Horowitz.
Celo launched in levels
The Mainnet launch is the sequent step for Celo following the primary stage of its mainnet launch going reside on April 22. The firm in addition plans to deliver off-chain costs for cGLD on-chain by a collection of Oracles, make Celo Dollars (cUSD) go reside, and launch the Mainnet launch of its pockets.
Speaking to Cointelegraph on May 16, Celo founder Rene Reinsberg mentioned the Celo Wallet is the ultimate step of Mainnet launch, when cGLD holders would be able to send Celo Dollars to anyone in the world with just their mobile phone.
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