Opera’s Bold Move: 160 Million Tokens to Conquer the Crypto Kingdom!

by

Finance

What to know:

  • Our dear Nasdaq-listed Opera, in a twist worthy of a Russian novel, seeks to swap its cash-based dalliance with Celo for a staggering 160 million CELO tokens. Should the token holders approve this audacious proposal, Opera will find itself a major stakeholder in the payments network. Ah, the drama!
  • This proposed allocation is no trifling matter; it represents a hefty slice of Celo’s circulating supply-like a starving man eyeing the last piece of pie at a dinner party-and accounts for 16% of its maximum supply. How appetizing!
  • Indeed, this move reveals Opera’s complicated romance with Celo, particularly through its self-custodial crypto wallet MiniPay, which has somehow managed to collect 14 million registrations and 420 million transactions across 66 countries since its grand debut in 2023. Who knew wallets could be so popular?

In a curious turn of events, the browser maker Opera (that’s OPRA for those keeping score) wishes to transform its cash-based agreement with Celo into something more… ethereal. A plan to exchange dollars for 160 million CELO tokens lies before us, a bold venture that would elevate Opera to the status of a major player in this digital bazaar-if, of course, the soaring token holders give it the nod.

The proposal, which has found its way to Celo’s governance forum like a lost kitten, aims to replace quarterly U.S. dollar grants with three years of token awards. With approximately 600 million CELO currently doing the rounds, this new allocation represents about 27% of what’s out there. Quite a leap, wouldn’t you agree?

Furthermore, this allocation comprises 16% of the grand total of 1 billion tokens. Now, as we check the market, CELO is trading at a humble $0.07, a steep decline from its once glamorous height of over $6 in late 2021. Ah, the fickle nature of fortune!

The transaction entails a “one-time transfer” of 160 million CELO from the elusive unreleased treasury to a Safe controlled by Opera. To keep things fair and square, the proposal notes that the voting power of these tokens will be “capped at 10% of total staked CELO,” with protocol emergencies being the only exception. Because, of course, we must maintain some semblance of order!

Opera, in cahoots with Celo, asserts that this shift mirrors the role of its self-custodial crypto wallet MiniPay. MiniPay operates on Celo, that charming Ethereum layer-2 network designed for economical payments, allowing users to hold their funds, send stablecoins using mere phone numbers rather than complex wallet strings, and pay employing local methods in far-off lands like Argentina and Brazil. Truly a marvel of modern technology!

“Since MiniPay is already Celo’s most-used application, we have a clear, long-term incentive to see the entire ecosystem flourish,” mused Jorgen Arnesen, EVP at Opera, with an air of optimism that could rival a spring morning. “The terms of this agreement represent the scale and maturity of our partnership and reflect Opera’s genuine belief in the long-term value of the Celo ecosystem and its native governance token, CELO. We aspire to be a supportive, key stakeholder.” What a noble ambition!

According to these ambitious companies, MiniPay has racked up over 14 million registrations and a staggering 420 million transactions across more than 66 countries since its launch. It seems everyone wants a piece of this digital pie!

Additionally, over 50 million Opera browser users, who’ve earned rewards in recent months, will soon be able to redeem them as USDT inside MiniPay. Because who doesn’t want to convert their hard-earned rewards into something they can use?

If the powers that be give the green light, this proposal will cement Opera’s position as a long-term stakeholder in the Celo ecosystem. As for Opera’s shares, they are floundering a bit at $14.6 after losing 1.2% of their value in yesterday’s trading session. A small price to pay for such grand aspirations, wouldn’t you say?

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2026-03-19 15:53