Celo native asset (CELO) API and Price Oracle

Celo native asset

For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
Blockchain network where the asset is deployed
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
Volume 24h
Trades 24h
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Token information

What is Celo native asset (CELO)?

CELO is the native asset of the Celo blockchain, a decentralized platform that aims to create financial inclusion worldwide. It was founded in 2017 by Rene Reinsberg, Marek Olszewski, and Sep Kamvar. The token is used for various purposes, including staking, governance, and transaction fees. The name "Celo" is derived from the Esperanto word for "purpose" and represents the project's mission to empower people by providing them with access to financial services.

How does Celo native asset work?

Celo's native asset, called CELO, plays a vital role in the functioning of the Celo blockchain. Celo is a decentralized platform that aims to provide financial services and solutions to anyone with a smartphone.

CELO is an ERC-20 compliant token that operates on the Ethereum blockchain. However, Celo also utilizes its Proof-of-Stake (PoS) consensus mechanism, known as the Celo Proof-of-Stake (cPoS) algorithm. This combination allows for faster transaction processing and a more energy-efficient network.

CELO serves multiple purposes within the Celo ecosystem. Firstly, it acts as a governance token, enabling token holders to propose and vote on network parameter changes and protocol upgrades. This democratic approach empowers the community to actively participate in shaping the future of the Celo platform.

Secondly, CELO is used as a staking asset to secure the network. Validators on the Celo blockchain are required to stake a certain amount of CELO to participate in the consensus process and validate transactions. This helps ensure the security and integrity of the blockchain.

Lastly, CELO facilitates the stability of the Celo Dollar (cUSD), which is a stablecoin pegged to the US dollar. CELO token holders can lock their tokens as collateral to mint cUSD and earn stability rewards. This mechanism helps maintain the stability and value of the cUSD.

In summary, CELO serves as a governance token, a staking asset, and enables the stability of the Celo Dollar. Its underlying technology, the cPoS algorithm, ensures a secure and efficient network for users to access decentralized financial services.

What are the benefits of Celo native asset?

The Celo native asset (CELO) offers several benefits compared to its direct competitors. Firstly, CELO is a utility token that plays a vital role in the Celo ecosystem. It is used for transaction fees, voting rights, and as collateral for stablecoins on the platform. This enables users to actively participate in network governance and decision-making processes.

One significant advantage of CELO is its focus on inclusivity and financial inclusion. Celo aims to bring financial services to the unbanked and underbanked populations by utilizing mobile phones and a decentralized platform. This sets it apart from its competitors by providing avenues for economic participation and financial empowerment to a broader audience.

Another benefit of CELO is its compatibility with regulatory frameworks. The project has gained recognition from various regulatory bodies because of its commitment to compliance and its adherence to local laws. This gives CELO a competitive edge over its direct competitors.

CELO also differentiates itself by incorporating a novel approach to stability mechanisms. It utilizes an algorithmic reserve model to maintain the stability of its stablecoin, Celo Dollar (cUSD). This mechanism promotes price stability and reduces the risk of volatility.

Lastly, CELO emphasizes community engagement and participation. Celo Foundation's Grants Program supports developers and entrepreneurs building on the Celo platform, fostering innovation and growth within the ecosystem. This collaborative approach encourages a diverse and active community, distinguishing CELO from its direct competitors.

In conclusion, the benefits of CELO as a native asset include its focus on financial inclusion, regulatory compatibility, stability mechanisms, and community engagement. These features contribute to its distinctive position among its direct competitors.

What is Celo native asset used for?

Celo native asset, also known as Celo Gold (cGLD), is the primary asset of the Celo blockchain network. It serves multiple purposes within the Celo ecosystem.

Firstly, cGLD is used as a governance token. Holders of cGLD have the ability to participate in the decision-making process by voting on proposals and shaping the future development of the network. This decentralized governance model ensures that community members have a say in the direction and policies of the Celo network.

Secondly, cGLD is used to pay for transaction fees on the Celo blockchain. Similar to other blockchain networks, users must pay a small fee to execute smart contracts, transfer assets, or interact with decentralized applications on the Celo network. These fees are paid in cGLD and help prevent spam and misuse of network resources.

Furthermore, cGLD can be used as collateral for stablecoins on the Celo network. Stablecoins like Celo Dollar (cUSD) are backed by a combination of cGLD and other stable assets, providing stability and enabling seamless transactions within the Celo ecosystem.

In addition to these common use cases, cGLD can also be utilized in specific cases such as providing liquidity in decentralized exchanges, participating in lending platforms, or supporting decentralized finance applications on the Celo network. These applications leverage the value and utility of cGLD to provide various financial services in a decentralized manner.

Overall, the Celo native asset (cGLD) plays a crucial role in governance, transaction fees, collateralization, and enabling financial applications within the Celo ecosystem.

What is DIA's Celo native asset API?

DIA's Celo native asset API is part of DIA's comprehensive suite of API endpoints that provide real-time price feeds for various crypto assets. These price feeds are sourced from billions of individual trades across more than 85 on-chain and off-chain exchanges, ensuring reliable and accurate data.

DIA's API endpoints are available for free, allowing developers to test and access standardized price feed information. These endpoints are conveniently provided on the asset's detail page within the DIA App. They serve as a valuable resource for developers looking to integrate price information into their projects.

However, what sets DIA apart is their ability to create fully customizable, custom feeds. These bespoke feeds can be tailored according to specific requirements, such as the sources of data, update mechanisms, and methodologies. To have a custom feed configured, users can reach out to DIA via Discord or Telegram.

DIA's APIs have diverse use cases within the blockchain ecosystem. In DeFi, they can be leveraged for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Likewise, in the NFTfi arena, DIA's APIs can support peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and various other applications.

By offering both free and custom feeds, DIA ensures accessibility for developers while also providing tailored solutions that cater to specific needs. The flexibility and reliability of DIA's API endpoints make them a valuable resource for obtaining accurate price data within the blockchain ecosystem.

In summary, DIA's Celo native asset API, along with their extensive range of APIs, offers real-time price feeds for numerous crypto assets. The free endpoints are a great starting point for developers, and the custom feeds provide enhanced flexibility and customization options. With their wealth of data sources and diverse use cases, DIA's APIs are crucial tools for building innovative solutions in the blockchain space.

What is DIA's Celo native asset price oracle?

DIA's Celo native asset price oracle is a smart contract that provides real-time price feeds for crypto assets. DIA stands out by offering a wide range of integrations, supporting over 35 layer 1 and layer 2 networks. This means that DIA can deploy price oracles across multiple blockchains.

DIA's price feeds are constructed using data from more than 85 cryptocurrency and NFT exchanges. By aggregating raw data from billions of individual trades, DIA ensures accurate and reliable price information.

While DIA provides free demo oracles for developers to test, these are only for testing purposes and cannot be integrated into production applications. However, DIA also offers custom price oracle data feeds. Users can request a dedicated price feed oracle tailored to their specific needs. This allows for custom configurations in terms of sources, methodologies, and update mechanisms. To request a custom feed, users can reach out to DIA via Discord or Telegram.

DIA's price oracles have a broad range of use cases within the blockchain ecosystem. In DeFi, they can be used for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. For NFTfi applications, DIA's oracles support peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and many other possibilities.

A blockchain oracle is an external information provider that supplies verified data from outside the blockchain to smart contracts. Oracles like DIA's price feeds play a vital role in enabling smart contracts to interact with real-world data in a secure and trustless manner.

Why use DIA's CELO API & price oracle?

DIA's CELO API and CELO Price Oracle offer numerous benefits for users in the blockchain ecosystem. These technologies allow users to access accurate and reliable price data for cryptocurrencies and NFTs. The most significant advantage of utilizing DIA's API or Price Oracle for CELO is the high level of customization available.

With DIA's technology, each oracle and API endpoint can be tailored to meet the specific requirements of decentralized applications. This includes configuring settings such as the data sources, data cleaning filters, pricing methodologies, and update mechanisms. By allowing users to customize these aspects, DIA ensures that the data and oracle remain robust and resilient, even in unique market conditions. This level of customization guarantees a tailored solution for every user, providing global market as well as specific individual or cross-chain market prices for CELO.

Transparency is another key benefit of utilizing DIA's API and Oracle feeds. DIA's technology offers full and granular transparency throughout the entire data journey. Users can track and monitor the oracle and API feeds using various tools provided by DIA. This transparency ensures that users have complete visibility into the data sources and processes, enhancing trust and confidence in the price data provided.

In summary, DIA's CELO API and CELO Price Oracle offer the advantages of customization and transparency. By providing customizable settings, DIA enables users to adapt the oracle and API to suit their specific needs. Additionally, the transparency provided by DIA ensures that users have a clear view of the data journey, enhancing trust in the price data for CELO.

Why use DIA data feeds and oracles?

DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.