What does Celo Dollar do?
Celo Dollar (CRYPTO:CUSD) is a stablecoin on the Celo blockchain, designed as a reliable and accessible store of value for payments within the Celo ecosystem. It's pegged to the US dollar and backed by a mix of assets, including Celo, fiat currencies, and stablecoins, maintained by validators.
CUSD's management falls under a decentralized organization called the Celo Alliance (DAO), responsible for protocol development, reserve management, and protocol changes.
The Celo team is actively expanding the Celo ecosystem, enhancing CUSD's accessibility globally, and promoting its use for payments through partnerships and merchant integration.
Their ultimate goal is to establish CUSD as the primary stablecoin for everyday transactions, fostering inclusivity and accessibility in financial services.