Share this article
Celo Proposal to Migrate to Ethereum Layer 2 Passes
The change seeks to simplify liquidity sharing between Celo and Ethereum while boosting security.
Updated Jul 31, 2023, 1:41 p.m. Published Jul 31, 2023, 1:41 p.m.
CLabs, the developer behind the Celo blockchain, has seen its proposal to transition Celo from an independent layer-1 blockchain to an Ethereum layer-2 solution pass on Monday morning.
According to the proposal page, there were 131 votes in total with 128 of those voting in favor of the transition, two voting against and one abstaining.
STORY CONTINUES BELOW
The cLabs team announced the proposed move to the community on July 16 in a Twitter thread, saying it followed "months of research and initial discussions with Celo and Ethereum community members."
The change aims to simplify liquidity sharing between Celo and Ethereum while boosting security and facilitating a seamless developer experience, according to the proposal post. Celo is already compatible with the Ethereum Virtual Machine or EVM, meaning Ethereum developers can easily port over their existing apps, or develop new ones using many of the same tools.
Celo said in the proposal that the benefits of the move will include “further Ethereum alignment and EVM compatibility, a stronger security assurances than Celo provides individually and a trustless bridge to Ethereum, simplifying liquidity sharing between Celo and Ethereum.”
CELO, the native token of the blockchain, was trading 4% higher on Monday. CELO is up 10% over the last seven days.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
ZKsync Lite to Shut Down in 2026 as Matter Labs Moves On
The company framed the move, happening in early 2026, as a planned sunset.
What to know:
- Matter Labs plans to deprecate ZKsync Lite, the first iteration of its Ethereum layer-2 network, the team said in a post on X over the weekend.
- The company framed the move, happening in early 2026, as a planned sunset for an early proof-of-concept that helped validate their zero-knowledge rollup design choices before newer systems went live.
Top Stories
