Ethereum L2 · EVM · Mobile-First · Migrated to L2 in 2024
Celo
CELO
Celo is a mobile-first, EVM-compatible network that migrated from an independent L1 to an Ethereum Layer 2 in 2024, with a focus on accessible financial tools.
Celo launched in 2020 as a standalone proof-of-stake L1 designed to run well on mobile devices with low-bandwidth connections. In 2024, the community voted to migrate the network to an Ethereum L2 using the OP Stack, settling security on Ethereum while keeping Celo's mobile-first features and native stablecoin suite.
Total value locked (DeFi)
$19.5M
Value locked in DeFi protocols on Celo. Updated Jun 8, 2026. Source: DefiLlama.
After the L2 migration, Celo operates as an Ethereum optimistic rollup built on the OP Stack. Transaction data is posted to Ethereum for settlement, and the fraud proof system provides Ethereum-level security. The CELO token is used for gas fees and governance. Celo retains its own validator set for sequencing.
Consensus: OP Stack L2 with Proof of Stake
After the L2 migration, Celo operates as an Ethereum optimistic rollup built on the OP Stack. Transaction data is posted to Ethereum for settlement, and the fraud proof system provides Ethereum-level security. The CELO token is used for gas fees and governance. Celo retains its own validator set for sequencing.
Mobile-first design
Celo was built to work on entry-level smartphones with limited connectivity. Light client protocols and phone-number-based address mapping make it accessible without needing to understand hex addresses.
Native stablecoins
Celo has protocol-native stablecoins: cUSD (pegged to USD), cEUR (EUR), and cREAL (Brazilian Real). These can be used to pay gas fees, removing the need to hold CELO just to transact.
Ethereum L2
The 2024 migration to OP Stack means Celo now settles on Ethereum, improving security guarantees and interoperability with the broader Ethereum ecosystem.
Financial inclusion focus
Celo's design choices, phone-number addresses, stablecoin gas, mobile performance, are aimed at users in emerging markets who may be accessing crypto for the first time.
Ecosystem & usage
What Celo is used for.
Celo's ecosystem includes remittance and payments apps, microfinance protocols, and impact-focused projects. The stablecoin infrastructure and mobile UX attract projects serving users in Latin America, Africa, and Southeast Asia.
The Celo community voted to migrate to an Ethereum L2 to improve security by settling on Ethereum, improve interoperability with the broader Ethereum ecosystem, and reduce the overhead of maintaining a fully independent L1 validator set.
What are cUSD and cEUR?
cUSD and cEUR are protocol-native algorithmic stablecoins on Celo, pegged to the US Dollar and Euro respectively. Uniquely, they can be used to pay transaction fees instead of CELO.
How does Celo address phone-number mapping work?
Celo has an on-chain identity protocol that maps phone numbers to wallet addresses using a privacy-preserving attestation system. This lets users send funds to a phone number rather than a hex address.
Can Celo be used without a smartphone?
While Celo is optimized for mobile, it is a standard EVM-compatible network accessible from any web3 wallet or browser extension.
Can I hold CELO in Zypto App?
Not yet. CELO isn't in Zypto App at the moment. You can hold it in any self-custodial wallet, and you can ask us to add Celo using the "Request Celo" button above.
