The Celo Foundation announces the launch of its Mainnet.

The Celo Foundation that raised $40 million to fund its blockchain project, announced the launch of its Mainnet. The transfers of Celo Gold, an ERC-20 token, are now enabled via on-chain governance.

The Celo Mainnet is now live, enabling users to transfer Celo Gold tokens they received in the foundation’s recent 10 million USD auction. After raising $40 million to fund its blockchain project, The Celo Foundation announced the launch of Mainnet, which is the next step in allowing transfers of its Celo Gold tokens. In a Medium blog posted on Tuesday, the foundation informed that transfers of Celo Gold, an ERC-20 token, are now enabled via on-chain governance, implying exchanges are free to integrate with the platform.

 

The Celo foundation thanked independent validators around the world.

The Celo Foundation expressed gratitude for the “commitment, passion, expertise, and engagement of over 100 independent validators around the world” for making the network possible. The foundation raised $10 million for the network in a dutch auction on CoinList this month. The auction sold out within 12 hours, with Celo Gold tokens selling for $1 each. With the launch of the Mainnet, auction participants can now send and receive these coins. Firms like Polychain Capital and Andreessen Horowitz invested in the Celo Foundation’s blockchain platform, which raised $30 million for this project. 

 

The Celo Foundation plans to bring off-chain prices for cGLD on-chain. 

The Mainnet launch now is the next step for the foundation after the first stage of its mainnet launch went live on April 22. The company is also planning to bring off-chain prices for cGLD on-chain through a series of Oracles, make Celo Dollars (cUSD) go live, and launch the Mainnet release of its wallet. In an interview with crypto and blockchain news outlet Cointelegraph, Rene Reinsberg, the founder of the Celo Foundation, said the Celo Wallet is the last step of Mainnet release when cGLD holders would “be capable of sending Celo Dollars to anyone in the world using just their mobile phone.”

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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