- Cello introduces Grant recipients
- Celo awards $9.35 million in financing to 50 projects as part of its Wave IV grant program
Celo is a platform that serves as a global payment infrastructure for cryptocurrencies, with a focus on mobile users as its target audience. Toward this aim, Celo’s vision is for financial activity to be available to everyone around the world, facilitated by the company’s capacity to send payments to and from any phone number in any country.
Celo can facilitate the development of decentralized applications on its blockchain, in addition to supporting fundamental financial transactions. One such dapp, which allows everyone to donate to a community’s universal basic income program, as well as a crowdfunding site for social purposes, are examples of what is now available.
Celo maintains two native tokens that are essential to the operation of its blockchain: CELO, which serves as a governance asset for voting on protocol updates, and Celo Dollars (cUSD), which is a stablecoin whose value is pegged to the value of the US dollar.
The Celo Foundation Grant Wave IV Program
Celo announced on its official Twitter page the latest recipients of the Celo Foundation Grants Program. The Celo Foundation was pleased to announce that it has awarded $9.35 million in financing to 50 projects as part of its Wave IV grant program, which was just completed.
Meet the latest recipients of the Celo Foundation Grants Program 👏 https://t.co/vztxZX9Yt8
— Celo 🔦 (@CeloOrg) October 20, 2021
The Celo Foundation’s objective is to develop a financial system that fosters the development of conditions conducive to everyone’s prosperity. For the purpose of achieving this goal, the Celo Foundation’s Grants Program provides financial assistance to developers to assist them in the development of initiatives that increase access to decentralized technology.
The Wave Grant recipients represent a diverse variety of areas of expertise, including blockchain infrastructure, decentralized applications, decentralized financial infrastructure, developer tooling, ecosystem support, education and community, and unstructured financial infrastructure.
What To Expect From Celo In The Future?
Celo is developing a highly scalable, permission less BFT consensus algorithm that, in the long run, will result in significant changes to the current proof-of-stake consensus mechanism. The use of BLS signature aggregation and succinct zero-knowledge proofs, such as those provided by zk-SNARKs, would significantly improve synchronization performance.
It is planned that Celo will introduce a number of stable currencies that will monitor a variety of fiat currencies and natural resources such as forests. The rebalancing process can also be conducted openly on-chain once the bridges between other chains and the Celo blockchain have been fully constructed and liquid trade has occurred on decentralized exchanges, as previously stated above.
Celo’s current price is $6.55, and it has a 24-hour trading volume of $105,866,816,093. While the coin’s share price rose 7.14% in the past 24 hours, it currently ranks #61 on CoinMarketCap, with a live market capitalization of $2,635,402,247,812.