Opera Bids for 160M CELO Tokens in Bid to Formalize Celo Partnership

Opera has submitted a proposal to replace its cash compensation arrangement for users who earned rewards in the Opera browser, aiming to allocate 160 million CELO tokens instead. This would be subject to a community vote by CELO holders and is part of Opera's growing partnership with Celo.

The requested token amount represents approximately 27% of the total 600 million CELO currently in circulation and 16% of the network's maximum supply of 1 billion CELO tokens. CELO trades at around $0.07, down from its peak above $6 in late 2021.

Jorgen Arnesen, EVP at Opera, stated that since MiniPay is Celo's most-used app, 'we have a clear, long-term incentive to see the entire ecosystem thrive.'