Celo

CELO
29215523.64 Total Staked $0.7808 Price
Marketcap
$377525352.79
Staking Marketcap
$22610025.82
Staking Ratio
5.38%

About Celo

Celo is a platform acting as a global payment infrastructure for cryptocurrencies that aims to target mobile users. To this end, Celo’s goal is for financial activity to be accessible to anyone globally thanks to its ability for payments to be sent to and from any phone number in the world.
In addition to basic payments, Celo can support the development of decentralized applications on its blockchain. Thus far, these dapps include one allowing anyone to contribute to a community’s universal basic income scheme, as well as a crowdfunding platform for social causes. Celo's mission is to build a financial system that creates the conditions for prosperity for everyone.

How to stake

Celo Staking Guide

What is Celo?

Celo is a blockchain ecosystem designed to enable accessible financial solutions for mobile users, where end-users can onboard into the Celo ecosystem with just a mobile number. Celo’s Proof of Stake (POS) consensus protocol provides interoperability & cross-chain compatibility which enables the circulation of digital assets at low costs and high speeds across devices, carriers, and countries, making money mobile, global and accessible like never before.

Staking Celo

In this guide, we will be using the Celo desktop wallet which can be acquired from https://celowallet.app/. Download the client for your operating system and create an account.

Use a strong password for your account and it is recommended to store your recovery phrase on a piece of paper and keep it safe.

You will need to transfer some funds to your new wallet. Celo is currently available for purchase on multiple centralized exchanges (CEX) like Binance, Gate.io, Coinbase, and Kucoin.

In order to start staking we will first need to “Lock” our tokens. To do so press on the “More” button and select “Lock”. Select “Continue” and then press “Lock” again to lock your tokens.

Leave some spare Celo in your wallet to cover transaction fees

Unlocked Celo will be available in 3 days

Now that we have finished locking, our next step is to stake them. To start staking select “More” and then “Stake”. You will see a list with all the available validators and some details about them. Select a validator of your liking and press on “Vote for group”. Enter the amount you wish to stake, select “Continue” and on the next window select “Vote”. Next, we will be prompted with a message that states to return in 24 hours for the Validator vote to be activated.

It’s recommended to do your own research before choosing a validator

In the last step, we need to return in 24 hours and activate our validator vote. Select your “Vote for Validator” transaction in the transaction history, select the “Activate” option, click on “Continue” and on the following window select “Activate”.

Rewards

Once you have finished activating your validator vote you will start earning rewards. The current APY for staking Celo is approximately 6%. Rewards are automatically compounded, which in time will increase your staking size.

If you have any questions, looking for alternatives to delegate, or just want to chat, you can contact us on the following channels:

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