Browser Company Opera Has Purchased a Large Amount of a Surprise Altcoin
Ethereum Layer 2 network Celo has made a significant proposal to formalize its long-standing collaboration with the web browser Opera.
According to a proposal submitted to the community for approval by Celo Core Co., Opera will be allocated a one-time 160 million CELO tokens. This amount represents approximately 16% of the total supply and is worth approximately $12 million based on the current market value. If the proposal is accepted, Opera will move beyond being merely a distribution partner and become a significant player in the Celo ecosystem.
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The proposal also brings about a fundamental change in the existing business model between the two parties. Instead of the previous financing structure maintained through regular management offers, the goal is to establish a long-term partnership through a one-time token allocation. This new structure aims to both reduce operational burden and strengthen the alignment of interests between the parties.
Opera’s holdings of CELO assets will allow the company’s incentives to be directly linked to the network’s success. However, to maintain governance balance, Opera’s voting power will be limited to 10% of the total staked CELO.
*This is not investment advice.
Continue Reading: Browser Company Opera Has Purchased a Large Amount of a Surprise Altcoin
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