Opera's proposal: to receive 160 million CELO and become a core stakeholder in the Celo network.
Key Takeaways : On March 19, 2026, Opera (NASDAQ-listed company, ticker symbol OPRA) submitted a proposal to the Celo governance forum to transfer 160 million CELO from the Celo unreleased treasury to a multisignature wallet controlled by Opera, replacing the existing cash subsidy agreement with a three-year token reward program. This allocation represents 27% of the current circulating supply (approximately 600 million CELO) and 16% of the total supply (capped at 1 billion), with an estimated value of approximately $12-13 million (based on a recent average price of $0.077). The proposal aims to upgrade Opera from a distribution partner to a core staker, but caps its voting rights at 10% of the total staked CELO to maintain governance balance. Following the announcement, the price of CELO rose by 2.5%-7% to approximately $0.08 . (CoinDesk )
This proposal marks the deepening of Celo's five-year partnership with Opera, leveraging the strong performance of the MiniPay wallet (14 million registered users, 420 million transactions, and coverage in 66 countries). However, some community members are concerned about the risks of supply dilution and centralized governance, and voting has not yet begun; it is currently in the discussion stage. The Defiant
Key details of the proposal
The core of the proposal is to replace the quarterly cash subsidies (originally planned until Q1 2026, approximately $568,000 in CELO equivalent per quarter) with a one-time transfer of $160 million in CELO, locked until Q3 2029. The funds will come from the Celo non-released treasury and will not be purchased from the secondary market, thus avoiding directly driving up prices, but will increase the circulating supply.
| index | value | illustrate |
|---|---|---|
| Allocation | 160 million CELO | Approximately 27% of the circulating supply (~600 million), 16% of the total supply (1 billion). Bitcoin.com |
| Valuation | ~12.3 million US dollars | Based on a 30-day average price of $0.0771, Bitcoin.com ... |
| Lock-up period | 3 years (until Q3 2029) | Opera has committed to holding and pledging The Block and will not sell it. |
| Voting rights cap | 10% of total CELO pledged | Except in emergencies, prevent excessive impact on TechFlow |
| Transfer method | One-time transfer to Opera Safe Wallet | Multisignature control Celo Forum (proposal link) |
Why it matters : This move reduces governance fatigue (eliminating the need for quarterly voting) and leverages Opera incentives through a "skins in-game" mechanism, driving MiniPay's expansion into Latin America, Southeast Asia, and Africa. MiniPay has become Celo's most active application, contributing over 700,000 DAU and 4.23 million weekly active USDT users. PRNewswire
Background of the collaboration and MiniPay's performance
Opera's partnership with Celo began in June 2021, initially integrating the cUSD/cEUR stablecoin. In September 2023, they launched MiniPay (a self-custodied stablecoin wallet), focusing on mobile payments and real-world use cases, leveraging Celo's fee abstraction (paying gas with stablecoins) and phone number mapping.
- User growth : 14 million registered accounts, covering 66 countries; 50 million Opera browser users can redeem rewards for USDT. ChainCatcher
- Transaction volume : Over 420 million transactions, Celo becomes the leading network in Ethereum L2 with a daily active user count (DAU) of 700,000+. (PANews )
- Strategic Expansion : Plans include roadshows in Latin America and Southeast Asia to promote the Mini App ecosystem. The Block
| Timeline | event | Influence |
|---|---|---|
| 2021-06 | Integrating Celo stablecoin | Browser-in-wallet now supports PRNewswire |
| 2023-09 | MiniPay launched | Africa First, Rapidly Acquiring Millions of Users The Defiant |
| 2025-12 | Strategic partnership renewal | PRNewswire aims to serve 1 billion people by 2030 |
| 2026-03-19 | This proposal was submitted | CELO +4.58% -7% The Block |
Celo, originally an independent L1 platform, transformed last year into an OP Stack Ethereum L2 platform, focusing on low-cost global payments. The Block
Market reaction and community feedback
- Price Performance : Following the news, CELO rebounded 2.5%-7% to $0.08, with a market capitalization of approximately $51 million , but it has fallen more than 98% from its 2021 high (> $6). (BWENEWS The Defiant )
- Opera shares : down 1.2% to $14.60. (CoinDesk )
- Community voices : Supporters see it as a growth engine tie-in, but Ginsburg and others question the "supply uncertainty" and dilution risks, arguing that it's equivalent to exchanging tokens for distribution rather than market buying. The Defiant
Data limitations : As of 03:08 UTC on March 20, 2026, the proposal is only under discussion, with no voting data or the latest on-chain staking metrics available. Price/market capitalization is based on a news snapshot, not real-time CoinGecko data; for accurate TVL/holdings, further tracking is recommended.
Risk Assessment and Outlook
| Risk factors | Severity | detail |
|---|---|---|
| Supply dilution | high | A 27% increase in circulation could create potential selling pressure, despite the 3-year lock-up period for The Defiant. |
| Centralized governance | middle | The 10% cap has been eased, but the emergency exception still poses risks . (TechFlow) |
| The proposal was rejected. | middle | Community fatigue is a concern, but proof of user growth value is needed . (Bitcoin.com) |
| Execution dependencies | Low | Opera promises to extend MiniPay/onramp/bridging PRNewswire |
Positive factors : MiniPay's strong track record suggests this proposal could accelerate Celo's penetration in emerging markets, similar to the Web3 ecosystem's shift from grants to equity alignment. If approved, Opera would become one of the largest holders, driving stablecoin/payment adoption.
Outlook : In the short term, pay attention to the governance vote (forum link). If it passes, CELO may continue to rise; if it fails, it will test market confidence. In the long term, this move strengthens Celo's L2 positioning, but MiniPay needs to deliver on its KPIs (such as user/transaction growth) to prove its value.
Investment perspective : Short-term traders can track the voting progress; medium-term outlook is positive for ecosystem integration but caution is advised regarding unlocking. The current price ($0.08) reflects a rebound, but the high risk of dilution warrants caution; wait for a clearer community consensus.