According to Gate.io News bot, TheBlock reported that the Celo Mainnet has begun executing its migration plan from Layer 1 to Ethereum Layer 2, and block production is currently paused. After the migration is complete, Celo will operate on the Ethereum Layer 2 level with native Ethereum cross-chain bridge functionality, optimizing block time from 5 seconds to 1 second. Celo announced its first batch of partners, including institutions like Aave, Fireblocks, Uniswap, and Yellowcard. Under the new architecture, the role of existing Celo validators will shift to decentralized sorters, continuing to maintain single block finality.

On December 11th, Band Protocol, a cross-chain data Oracle Machine platform, announced its integration with Celo L2. It is now live on the Celo Alfajores L2 testnet, and developers on Celo L2 can now access Band.

Odaily Planet Daily News According to Artemis data, Celo recently surpassed Tron in the number of daily active addresses using its stablecoin. Vitalik Buterin stated that improving global access to basic payment/financial services has always been a key way for Ethereum to benefit the world, and he is pleased to see Celo.

Golden Finance reported that the Eigen Foundation has allocated the first strategic funding to the Celo Foundation to support the use of EigenDA in Celo Layer 2. cLabs first proposed the migration of Celo from an EVM compatible L1 to L2 with EigenDA at EthCC in July last year. Migrating to an L2 with EigenDA helps to avoid the high costs associated with native Ethereum storage and maintain Celo.

Gate.io News: The price of $CELO, the native token of CeloGold, has increased by 11% in the last 24 hours as USDT and USDC on the Celo network becomes available with MoonPay, a digital assets trading platform in partnership with Valora, a global payments app.$CELO currently trades around $0.7833 (CELO/USDT), with a market capitalization of $379.57M, and a 24-hour trading volume of $3.78M according to Gate.io trading chart.

Odaily Planet Daily News According to the high praise of Celo by Vitalik, the co-founder of ETH, on-chain detective ZachXBT commented, 'I have not seen a real user of Celo so far. It is a 'ghost chain' integrated into the Optimism stack.' In addition, he mentioned the use of super-chain mechanism to acquire OP in Metal DAO and Celo mentioned in the comments.

PANews reported on July 21st that according to the official transparency page of Tether, the authorized issuance of USDT on the TON chain has surpassed Near and Celo, ranking fifth in USDT issuance volume on the blockchain, second only to Tron, Ethereum, Avalanche, and Solana. As of 11:59:01 PM UTC on July 20, 2024, the authorized issuance of USDT on the TON chain amounted to $730,000,002.

According to the official transparency page data of Tether, the authorized total amount of Tether on the Celo blockchain has exceeded 170 million US dollars, of which the authorized but not yet issued Tether on the Celo blockchain is 34,400,000.20 US dollars, and the authorized and issued Tether on the Celo blockchain is 135,600,000.80 US dollars.

Jinse Caijing reported that, according to the official transparency page data of Tether, the authorized total amount of Tether on the Celo chain has exceeded 470 million US dollars, reaching 470,000,001 US dollars at the time of writing. Among them, the authorized but not yet issuance Tether on the Celo chain is 269,900,000.2 US dollars, and the authorized issuance Tether on the Celo chain is 200,100,000.8 US dollars, surpassing Omni in net circulation.

Odaily Star Daily News According to Token Terminal data disclosed by cLabs CEO Marek forwarded by Tether CEO Paolo Ardoino, the outstanding supply of Tether on the Celo chain is approaching 1.