Opera Seeks 160 Million CELO Tokens to Become Major Celo Network Stakeholder

Nasdaq listed browser maker Opera (OPRA) has proposed replacing its cash-based deal with Celo with a 160 million CELO token allocation. If approved by token holders, this would make Opera a major stakeholder, representing roughly 27% of Celo’s circulating supply and 16% of its maximum supply of 1 billion tokens.

Strategic Role of MiniPay

The move underscores Opera’s commitment to Celo, particularly through its self-custodial crypto wallet MiniPay. Since its 2023 launch, MiniPay has achieved 14 million registrations and processed over 420 million transactions across 66 countries. The wallet allows users to hold funds directly, send stablecoins via phone numbers, and pay with local methods, highlighting Opera’s integration with the network.

Governance and Token Control

The proposed CELO transfer would come from the unreleased treasury into an Opera-controlled Safe. Voting power of these tokens would be capped at 10% of total staked CELO, except in protocol emergencies, ensuring governance balance while enabling Opera to act as a long-term ecosystem supporter.

At the time of the proposal, CELO trades at $0.07, down from its 2021 peak above $6. Opera’s stock is trading at $14.6, slightly down 1.2% in recent sessions. The proposal positions Opera as a committed stakeholder, aligning its financial incentives with the growth and adoption of the Celo ecosystem globally.

Disclaimer

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