Celo’s public auction through Coinlist will be held on May 7th, and the starting price of Celo Gold is $ 12

The financial application open source platform Celo will publicly sell its application token Celo Gold (cGLD) through Coinlist on May 7th. Coinlist has announced the specific information of this public offering. The auction has a starting price of $ 12 and a base price of $ 1 . At the same time, the total supply of cGLD application tokens is 1 billion. According to the valuation of the base price of 1 US dollar, Celo Gold will be valued at about 1 billion US dollars. This auction will sell 3% of the supply of tokens. The tokens account for 9.5%, and the prices are respectively a round of 0.18 USD, a 24-month vesting period, and a round of 1 USD price, and a 12-month locked position. Citizens of the United States and Mainland China cannot participate in this public offering. Chain News previously reported that Celo completed a $ 30 million financing in August last year, led by cryptocurrency funds a16z crypto and Polychain, and Dragonfly Capital also participated in this round of financing. Prior to this, Celo has raised $ 6.4 million. Celo has developed Celo Gold, an application token for payment purposes, and Celo Dollar, a stablecoin pegged to the US dollar. The team has also developed a user-friendly wallet application that allows users to transfer and receive cryptocurrencies using their mobile phones, as well as by phone. The number transfers Celo Dollar to users who do not have the wallet app installed.