Celo
A mobile-first EVM chain originally targeting emerging-markets payments — now an Ethereum L2 (Celo L2 migration, 2024).
Celo migrated from independent L1 to Ethereum L2 via the OP Stack in 2024. Stablecoin lineup includes cUSD (algorithmic, partially-collateralised) and USDC. Mento Labs (the original Celo collective) operates the cUSD stability mechanism.
Related terms
- L2 (Layer-2)A scaling network that inherits security from an L1 by posting state roots back — rollups, validiums, plasma.
- OP StackThe modular L2 framework maintained by OP Labs — underlies Optimism, Base, Mode, Worldchain, Mantle Sepolia, and 30+ others.
- EVM (Ethereum Virtual Machine)The runtime that executes Ethereum smart-contract bytecode — replicated across all EVM-compatible chains.