Celo CELO current price is $0.4213 with a marketcap of $215.73 M. Its price is -6.27% down in last 24 hours.
Celo 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.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 PlatformVoting for validators working to secure and operate the Celo PlatformParticipating in governance decisions to influence the future of the Celo PlatformSupporting applications on the platformcGLD 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.
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