Celo is now a Layer 2. Secured by Ethereum. Built different. | celo.org

0/ Celo transitions to an L2, a guest thread by Marek

5 years ago, @celo launched on Earth Day with one goal:

Build something different.

A blockchain for everyone—no matter where you live or what phone you carry. That dream never changed & this week, it just got stronger 👇

1/ After 20+ months of planning, coding & testing, @Celo is now an Ethereum Layer 2 w/ @optimism's OP Stack & EigenDA, featuring:

- 1s blocks
- Sub-cent txns
- Fee abstraction (gas payable in USDT & USDC)
- Native bridging
- Ethereum security
- Ultragreen Money
- CELO token duality & more

Ethereum. Ethereum. Ethereum.
Ethereum. Ethereum. Ethereum.
Ethereum. Ethereum. Ethereum.
Ethereum. Ethereum. Ethereum. https://t.co/kRTkYPYGYL

2/ Today, following months of hard work by core contributors at @cLabs, Celo has officially migrated to an Ethereum Layer 2.

Five years after mainnet launch, Celo has returned home to Ethereum. https://t.co/JDA0FiQULI

Celo.eth/acc 🦇 🌳

Ethereum is the world computer. The universal platform for cryptocurrencies, blockchain apps, stablecoins, and decentralized technologies.

2/ Migrating an existing L1 to an L2 was no small feat. We completely changed the way it operates while preserving its chain history (no regenesis needed). The upgrade was trustless—full nodes could verify the state change. 

And, the canonical version of CELO moved to Ethereum!

3/ When all was said and done, Celo inherited Ethereum’s security as an optimium, kept its core differentiators, all while ensuring zero impact on users and developers. See this amazing tweet from @medha at @uniswap ↓

3/ When all was said and done, Celo inherited Ethereum’s security as an optimium, kept its core differentiators, all while ensuring zero impact on users and developers. See this amazing tweet from @medha at @uniswap ↓ 
https://x.com/medhakothari/status/1905341410834059540

4/ So, why Ethereum?

We're big believers in Ethereum's L2-centric scaling roadmap, and have high conviction that it is the best way to scale blockchains. We think that Ethereum's head start in this direction will inevitably make it *the* settlement layer for the internet

5/ Ultimately, the short-term narrative storms and sentiment will dissipate.

The long-term fundamentals are clear: Ethereum is the most decentralized infrastructure in Web3 and where the strongest network effects will happen

6/ Our conviction with Ethereum and the EVM started early. Celo started as a fork of geth and we’ve always viewed it as part of the broader Ethereum ecosystem.

cLabs invested early in Ethereum focused initiatives including better light clients, EIP-1559, and one-block finality

7/ Ethereum is also more than a blockchain—it's a cultural movement. 

While composed of different philosophies (Cypherpunks, Regens, Degens, et al.), the ecosystem is aligned by its mission towards decentralization, transparency, and global financial inclusivity

8/ These foundational beliefs are shared by the @celo community w/ our own twist: celebrating Ethereum’s Regen culture with a greater emphasis on mobile DeFi, and a particular focus on real-world use cases like payments, savings, credit and commerce

8/ These foundational beliefs are shared by the @celo community w/ our own twist: celebrating Ethereum’s Regen culture with a greater emphasis on mobile DeFi, and a particular focus on real-world use cases like payments, savings, credit and commerce

https://app.t2.world/article/cm1eqxyh8151217321mcesuw528v

9/ We hope that Celo’s migration becomes a great case study that inspires other EVM-compatible L1s (and longer term non-EVM chains) to follow suit. 

If you're an L1 considering the move, take the leap of faith! If you have any questions, we're happy to share our learnings

10/ So, what next?

Celo is entering its winning era, w/ over 1,000 projects like Aave, @uniswap, Curve, Chainlink, 14+ stablecoins (incl. native USDT & USDC & MentoLabs local currencies), 8M+ users in emerging markets w/ MiniPay & @valoraxyz, & Self, a new zkPassport protocol

11/ Doing good and winning aren’t mutually exclusive, they’re table stakes. 

Our ecosystem will continue to prioritize its fundamental values of global diversity, accessibility, & efficiency to create a more equitable onchain economy for all

12/ The tangible impact of these values is in full effect across 150+ countries w/ projects like GainForestNow, GrassEcon, and SilviProtocol leading in ReFi, as well as MentoLabs’ local stablecoins bringing crypto payments to everyone.

Now, these projects live on Ethereum

12/ The tangible impact of these values is in full effect across 150+ countries w/ projects like GainForestNow, GrassEcon, and SilviProtocol leading in ReFi, as well as MentoLabs’ local stablecoins bringing crypto payments to everyone.

Now, these projects live on Ethereum
https://x.com/GainForestNow/status/1831576575017459978

13/ By joining forces with Ethereum & the visionary leaders throughout our ecosystems, we bridge the best of both worlds and are now primed more than ever to deliver on our mission at scale. 

We’re excited to build together in this new era & scale Ethereum for the masses

1/ After 20+ months of planning, coding & testing, @Celo is now an Ethereum Layer 2 w/ @optimism's OP Stack & EigenDA, featuring:

- 1s blocks
- Sub-cent txns
- Fee abstraction (gas payable in USDT & USDC)
- Native bridging
- Ethereum security
- Ultragreen Money
- CELO token duality & more
https://x.com/Celo/status/1904894159607259648