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.

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.