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Celer Network (CELR): What Is It?

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Venus Lee
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A blockchain interoperability protocol is called Celer or CELR. With just one click, users may access tokens, DeFi, GameFi, NFTs, governance, and much more across numerous chains. The Celer Inter-chain Message SDK enables developers to create inter-chain native decentralized apps by providing access to sharing states, unified application logic, and efficient liquidity utilization (dApps). With just one connection, users of dApps powered by Celer will gain access to a robust multi-chain ecosystem and enjoy the ease of a single-transaction user experience (UX).

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Characteristics of Celer

To ensure consumers can access many functions with a single click, Celer offers a few essential products:

  • The Celer cBridge. Users can move a variety of tokens rapidly, safely, and economically between different blockchains with our decentralized, non-custodial asset bridge. Celer cBridge now supports layer-2 rollups for more than 130 coins over more than 30 blockchains. Thanks to the Celer Inter-chain Messaging Framework, cBridge has managed over $10 billion in cross-chain asset transfers for over 199 000 unique users across 30+ blockchains.

  • The Guardian Network of Celer State. The Celer State Guardian Network (SGN), a Proof-of-Stake (PoS) blockchain built on Tendermint, serves as a bridge to other blockchains.

  • Validator nodes: validators must stake their CELR tokens in order to take part in the SGN's consensus process. The CELR staking process is crucial to the financial stability of the Celer IM and Celer-enabled dApps like Celer cBridge.

  • The message routing service and multi-signature attestation storage provided by SGN are both subject to service charges. These service fees, in addition to the standard PoS block rewards, are paid to the CELR stakers and validators in appreciation for their work protecting the network.

Tokenomics CELR

The entire supply of CELR is 10 billion. Following is an illustration of how its supply is distributed: 25% of the total comes from mining incentives, 20% from the team (18.3%) and advisors (1.7%), 17% from the foundation, 5% from marketing and ecosystem, and 33% from sales.

How to Buy CELR Token?

You can purchase CELR on MEXC following the steps below:

Log in to your MEXC account and click [Trade]. Click on [Spot]. Search “CELR” using the search bar to see the available trading pairs. Take CELR/USDT as an example.R Scroll down and go to the [Spot] box. Enter the amount of CELR you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy CELR] to confirm your order. You will find the purchased CELR in your Spot Wallet.

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