Publicly traded web browser Opera (NASDAQ: OPRA) announced that it has committed to being a long-term holder of Ethereum Layer 2 Celo’s native token, CELO, according to press release published today, March 19.
Celo Core Co., the primary developer and steward of the L2, submitted a governance proposal today outlining the plan to restructure its five-year-old partnership with Opera, namely proposing to shift the browser giant “from a distribution partner to a long-term network stakeholder.”
If approved by the Celo community, the new structure has Opera set to receive an allocation of 160 million CELO tokens — worth about $13 million at current prices — from the network's “unreleased treasury,” meaning the tokens would not be purchased from the open market.
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