Celo Euro (CEUR) is a digital asset that is value-stable and reflects the standard euro. Users can easily and economically transfer value on their smartphones through careful operations. Celo's mobile blockchain technology aims to make financial services accessible to customers, especially those in underserved areas. This focus on accessibility and sustainability aligns with Celo's overall goal of democratizing access to financial tools and services.

About CELO

CELO is a Decentralization platform aimed at facilitating the development of a range of stable value assets that are collateralized by encryption and isolated as a model. CELO is developed by cLabs, founded in 2017 by former GoDaddy executives René Reinsberg and Marek Olszewski, as well as Massachusetts Institute of Technology professor and Google executive Sep Kamvar.

The Celo network includes a stability protocol that supports an ecosystem of stable value currencies, including the Celo Dollar, regional currencies, and commodity-backed stablecoins. Celo also employs innovative encryption methods that allow individuals to access the network with minimal data requirements through a "ultra-light" client. This "ultra-light client" is the result of Celo's mobile-first and research-driven approach, designed to serve individuals in different circumstances.

About Mento Protocol

Mento Protocol is an important initiative within the Celo ecosystem. It is a stablecoin platform that helps stabilize the value of Celo's native stablecoins. Mento stablecoins, such as Celo Euro (CEUR), Celo Dollars (cUSD), and Celo Reals (cREAL), provide instant access for a variety of everyday applications, including easy transfer of value within exchanges, global distribution of charitable aid, and low-cost remittances and cross-border payments. This is particularly advantageous in markets affected by coin fluctuations. The advantages of Mento stablecoins include:

• Low Money Laundering
• Algorithm stable mechanism
• Publicly verifiable stability
• Block time of five seconds
• Used to pay gas fees

What is Celo Euro (CEUR)?

Built on the Celo on-chain, Celo Euro (CEUR) is a stable digital asset designed to track the value of the euro. Celo aims to provide a seamless and accessible user experience. The Celo Block chain is a mobile-first designed full-stack platform that provides practical solutions for everyday financial activities, enabling CEUR to achieve faster, cheaper, and more convenient mobile payments and transactions.

The design of CEUR demonstrates Celo's commitment to developing a sustainable digital economy and providing practical solutions for financial inclusivity. The bridge connecting the Celo blockchain to other chains improves its interoperability, thereby expanding its utility and influence. The interconnectivity of CEUR further enhances its accessibility and effectiveness, enabling users to use it on various platforms and ecosystems.

Background of Celo Euro (CEUR)

Celo Euro (CEUR) is a stable asset on the Mento Protocol and is a part of the Celo platform. It is used to track the value of the Euro. René Reinsberg and Marek Olszewski are the founders of Celo Euro, both of whom have extensive experience in entrepreneurship and technology. They are committed to developing a scalable, low-cost, mobile-first platform to promote a thriving digital economy. The Mento Protocol allows the community to create various stable assets, such as CEUR, which was initiated through a community governance proposal in June 2021.

Special Features of Celo Euro (CEUR)

Interoperability

Interoperability is an important part of Celo Euro technology. The Celo Blockchain is designed to seamlessly integrate with other Celo assets, enhancing the overall value and flexibility of the platform. The bridge connecting the Celo Blockchain with other chains facilitates this interoperability, creating a more cohesive and adaptive ecosystem.

Lowest Transaction Cost

Celo Block chain is known for its low Money Laundering, making it an ideal choice for users who need to frequently use CEUR for transactions without incurring a large amount of expenses. This efficiency is particularly advantageous for cross-border transactions, as traditional Financial Institutions often charge high fees and cause latency.

Stable protocol

The stability protocol in the Celo ecosystem promotes the formation of various stable value currencies, ensuring that consumers can access assets that retain value over time. This stability is crucial for users who rely on these assets for daily transactions, providing them with a reliable alternative to more volatile cryptocurrencies.

How does Celo Euro (CEUR) operate?

Celo Euro (CEUR) operates on the Celo blockchain as a decentralized stablecoin, facilitating peer-to-peer transactions without intermediaries. Its decentralized nature ensures secure, transparent, and censorship-resistant transactions. CEUR utilizes Proof of Stake Consensus, a blockchain technology that improves scalability and energy efficiency compared to traditional Proof of Work systems. Its unique feature is the stability mechanism, which maintains a stable value relative to the Euro through a combination of on-chain governance and reserve assets. The reliability of CEUR makes it suitable for various applications, including remittances, microtransactions, and cross-border transactions. Celo Euro provides a decentralized and stable alternative, with the potential to transform financial inclusivity and accessibility across platforms and industries.

Application of Celo Euro (CEUR)

Celo Euro (CEUR) includes several major applications, including:

• Remittance: Celo Euro facilitates economic and international remittances, enabling customers to transfer funds to friends and relatives worldwide.
• Micro Payments: Celo's low Money Laundering fees and fast Settlement time make it a suitable Stablecoin for micro payments, including in-app purchases and online tips.
• Decentralization Finance (DeFi): Celo promotes an expanding ecosystem of Decentralization Finance (DeFi) applications, including loan platforms, Decentralization exchange (DEX), and stablecoins.

Technology of Celo Euro

The technology of Celo Euro (CEUR) is based on the Celo protocol, which includes the Celo blockchain and the Celo core contracts. The blockchain adopts a mobile-first design, enabling all users with mobile phones to access decentralized finance tools and services. The Celo blockchain is carbon-neutral, reflecting a growing trend of sustainability in technology. The technology underlying Celo Euro includes:

Stable Mechanism

The Celo protocol is essentially composed of four assets: Celo Dollar and Celo Euro, flexible supply stable value assets; Celo Brazilian Real (cREAL), a Digital Money designed to maintain the constant value of the Brazilian Real; and CELO, a variable asset with a fixed supply. CELO serves multiple roles as a practical Token of the protocol. CELO is the foundation of the stability mechanism, stored in a reserve Smart Contract and converted to stable coins to balance excess or insufficient demand. The protocol incentivizes users to adjust the supply of stable coins to align with the demand for the specified price target.

Celo's expansion and contraction mechanism allows users to generate new stablecoins by depositing an equivalent amount of CELO into the reserve, or to exchange stablecoins (CEUR) for an equivalent amount of CELO to burn the stablecoins. This system is called the Decentralization One-to-One (DOTO) mechanism. The mechanism creates incentives, allowing for the purchase of an equivalent amount of CELO at market price and exchange for stablecoins (CEUR) with the protocol when there is an increase in demand for stablecoins (CEUR) and the market price exceeds the target. Subsequently, the stablecoins (CEUR) can be sold at market price to obtain Arbitrage profits.

Similarly, when the demand for the stablecoin (CEUR) decreases and the market price is lower than the target, there will be Arbitrage opportunities. Users can purchase the stablecoin (CEUR) at the market price and exchange it with the protocol for an equivalent amount of CELO, and then sell CELO in the market. These measures are expected to push the market price of the stablecoin (CEUR) back to its equivalent value without the need to calculate the appropriate expansion or contraction quantity.

Mento Protocol

Mento Protocol is built on the Celo platform and is an important part of the ecosystem, facilitating the creation of various stable assets. Celo Euro (CEUR) is a stable asset designed to reflect the value of the Euro. Mento stablecoins enable fast and low-cost fund transfers through mobile devices. Mento stablecoins provide instant access for everyday applications, such as economic remittances and cross-border transactions, distribution of global humanitarian aid, seamless online payments, or value transfers within the exchange, especially in markets experiencing currency Fluctuation.

Proof of Stake (PoS) Mechanism

The core technology of Celo Euro adopts Proof of Stake (PoS) technology for transaction verification. Unlike Proof of Work (PoW) systems that require a large amount of computational resources, Proof of Stake (PoS) relies on selecting validators based on the number of tokens held and the willingness to 'stake' as collateral. This approach not only improves security but also reduces the environmental impact of blockchain activities. Celo adopts an energy-efficient Consensus method, eliminating energy-intensive mining and reducing its carbon footprint.

Other Celo platform local Stable Coin

Celo Dollars (cUSD) and Celo Reals (cREAL) are other stablecoins compatible with Mento. They enable fast, low-cost, and convenient value transfer via mobile devices. Celo's native stablecoins correspond to their respective currencies. Celo Dollar (cUSD) is pegged to the US dollar, while Celo Euro (cEUR) is pegged to the euro. Due to their connection to fiat currency, they are referred to as "stable." They are designed to achieve accessibility and user-friendliness for payments, savings, and transfers.

Celo Dollar (cUSD)

Celo Dollar (CUSD) is an important asset in the Celo ecosystem, designed to facilitate access to financial tools through mobile devices. Celo Dollar (CUSD) is a stable asset pegged to the US dollar. cUSD enables fast, low-cost, and convenient currency transactions through mobile devices. cUSD operates on the Celo on-chain and complies with the ERC-20 standard. Celo USD enables global digital transactions and the use of financial tools, establishing its foundational position in financial inclusion.

In addition to its trading use, CUSD also plays a key role in rewarding users, enhancing liquidity pools, and promoting the stability and expansion of the ecosystem. CUSD seamlessly integrates with Celo's infrastructure, facilitating daily transactions and supporting a wider range of financial empowerment projects, bridging the gap between TradFi and the evolving digital economy.

Celo Reals (cREAL)

Celo Brazilian Real (cREAL) is a Digital Money designed to maintain the stable value of the Brazilian Real. It operates on the Celo platform, leveraging the Mento protocol, which enables the generation of various stable assets within the Celo ecosystem. This protocol facilitates smooth integration of cREAL with multiple blockchains, enhancing its accessibility and utility in different digital ecosystems.

cREAL was established in January 2022 after a successful community governance proposal, aiming to provide a reliable Digital Money alternative for users both inside and outside the Brazilian market. By pegging its value to the Brazilian real, cREAL offers a reliable medium of exchange and a stable store of value, reducing the typical Fluctuation associated with Cryptocurrency. This stability is highly beneficial for customers who wish to conduct transactions, remittances, or hold assets without being affected by the usual price Fluctuation in the Cryptocurrency market.

Benefits of Celo's Native Stablecoin Platform

Instant Payment

Retailers can accept Celo Dollars (cUSD) and Celo Euros (cEUR) as stable online or offline payment methods. Users can transfer stable value globally using Celo-based payment applications and solutions with just their phone numbers.

Direct Sharing

The payment application based on CELO enables users to securely and instantly make local or international remittances without the need for high Money Laundering or intermediary, thus achieving a future of peer-to-peer payments without high Money Laundering or expensive third-party intermediaries. Users can easily share content with almost anyone globally immediately from their mobile devices, with a cost of only 0.01 US dollars using CELO.

Easy Borrowing and Lending

Many people face difficulties in building credit history or assets to obtain loans. Celo reimagines the potential for financing by providing access to savings, peer-to-peer payments, and loan access for anyone with a basic feature phone.

Roadmap for Celo

This timeline highlights key milestones in the development of Celo, from its launch as a Layer 1 blockchain to exploring becoming a Layer 2 solution for Ethereum.

Summary

Celo Euro is committed to promoting financial inclusion and building a more sustainable and equitable economic system, a commitment reflected in its diverse activities. Celo is revolutionizing global payments and smart contracts, promoting the integration of Digital Money into daily life, and providing a seamless and user-friendly experience.