The CELO platform aims to provide a more comprehensive financial system by providing a blockchain-based infrastructure that promotes financial services and applications, especially to those who have no access to traditional banking services.
Celo Dollar is designed to maintain stable value, aiming to closely track the value of the US Dollar (USD). This stability is achieved through a variety of mechanisms, including collateral and algorithm adjustments.
To maintain its value, CELO Dollar is supported by a combination of cryptocurrency assets that act as collateral. This collateral helps to ensure that you have sufficient assets to redeem CUSD for equivalent value in US dollars if necessary.
Users can trade with CUSD and become a digital currency suitable for everyday trading. The goal of CELO is to enable low-cost cross-border remittances using Stablecoins such as CUSD.
Celo Dollar (CUSD) vs. Celo Gold (CGLD)
Celo Gold (CGLD) is a native utility token for the Celo platform and is used for governance, staking, and network protection. CELO DOLLAR (CUSD) is a Stablecoin that is primarily used as a stable repository of transactions and values.
Disclaimer. This article is for informational purposes only and should not be considered as approval by Koinidor. They do not recommend buying and selling cryptocurrencies. Readers should do research before investing in funds.
