Celo Foundation Announces the Launch of Its Mainnet, Allowin...
Cryptocurrency, News

Celo Foundation Announces the Launch of Its Mainnet, Allowing Transfers of Its cGLD Tokens

The Celo Foundation has announced the launch of its mainnet, allowing transfer of its Celo Gold (cGLD) tokens. Investors who received Celo Gold tokens during the foundation’s recent $10 million auction can now transfer them unto their wallets.  

According to a May 18 blog post, the foundation informed its investors that transfers of Celo Gold, an ERC20 token, are now enabled via on-chain governance. What this means is that, crypto trading platforms are now free to integrate with the Celo platform. 

In the announcement, the company expressed its gratitude to the commitment, passion, expertise, and engagement of the over 100 independent validators around the world who made the Celo network a possibility. 

The Celo foundation had earlier in the month raised $10 million for the network in an auction on CoinList. The auction which sold out within 12 hours had about 3,996 total registrants and 761 bids from 132 countries. Participants included individuals who want to run validators on the Celo network and users who want Celo’s mission to see the light of the day. The auction gave individuals around the world an opportunity to participate in the Celo community pre-launch.  

The announcement also noted that the anticipated next steps for the Celo platform includes bringing off-chain prices for Celo Gold on-chain through a series of Oracles. It is also planning to launch the Celo Dollars project, and finally release the mainnet of the Celo wallet. The foundation recently announced the addition of more than 20 new members to its Alliance for Prosperity

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Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.