PANews reported on March 19th that, according to CoinDesk, browser company Opera (OPRA) has proposed replacing its quarterly USD cash subsidy to Celo with a three-year grant of 160 million CELO tokens. This represents approximately 27% of the current circulating supply of about 600 million CELO tokens and 16% of the maximum total supply of 1 billion. The tokens will be transferred from the Celo treasury to Safe, controlled by Opera, with a voting power capped at 10% of the total staked CELO. CoinMarketCap data shows that CELO is currently priced at approximately $0.07, a significant drop from its 2021 high of over $6.
Opera stated that this arrangement reflects the role of its self-custodied wallet, MiniPay, on the Celo network. Since its launch in 2023, MiniPay has gained over 14 million registered users in 66 countries and processed over 420 million transactions.
