Opera is seeking 160 million CELO tokens to become a key stakeholder in the Celo network.

Nasdaq-listed Opera has submitted a proposal to the Celo governance forum to replace its existing cash payment protocol with Celo with a three-year allocation of 160 million CELO tokens. This allocation represents approximately 27% of CELO's current circulating supply of about 600 million tokens and 16% of its maximum supply of 1 billion tokens. CELO is currently trading at $0.07. The transaction would involve a one-time transfer of 160 million CELO from the never-released Treasury to a Safe account controlled by Opera. To maintain governance balance, the voting power of these tokens will be limited to 10% of the total staked CELO, except in protocol emergencies. Opera stated that the proposal reflects the important role of its self-custodied crypto wallet, MiniPay, on the Celo network. MiniPay runs on Celo, an Ethereum Layer 2 network, and has over 14 million registered users and over 420 million transactions in more than 66 countries since its launch in 2023. Opera EVP Jorgen Arnesen stated that Opera aims to become a supportive key stakeholder in the Celo ecosystem. Furthermore, over 50 million Opera browser users who have earned rewards in recent months can redeem their rewards in USDT via MiniPay. Opera's stock price is currently $14.60.