Celo Proposes 160M Tokens to Opera for Partnership

Celo, an Ethereum layer 2 blockchain focused on mobile payments, has proposed allocating 160 million CELO tokens to the web browser company Opera as part of a governance initiative to deepen their partnership. The one-time transfer, drawn from Celo's unreleased treasury, would replace quarterly cash grants and position Opera as a long-term stakeholder in the network, pending approval from token holders.

The proposal, introduced this week, aims to align Opera's incentives more closely with Celo's growth by granting the tokens into an Opera-controlled wallet, where they would be held for at least three years without sale. This structure ends the need for repeated governance approvals on funding, streamlining operations for both parties. To preserve decentralized decision-making, the tokens' voting power would be limited to 10 percent of total staked CELO, with exceptions only for emergency situations. At current prices around $0.08 per token, the allocation is valued at approximately $12 million and represents about 16 percent of CELO's maximum supply of 1 billion tokens and 27 percent of the roughly 600 million tokens in circulation.

The move builds on an existing collaboration...