Celo project supported by Andreessen Horowitz raised $ 10 million during token sale

During the Dutch auction on the digital asset listing platform CoinList, the Celo blockchain project implemented$ 10 million Celo Gold Tokens (cGLD).

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Tokensale took a little over 12 hours. As a result, 3996 applications and 761 proposals from investors from 132 countries were registered.

As a result of the auction, a full tranche of 10 million GLD was sold at $ 1 per token. Coins provide an opportunity to participate in management and communication on the Celo platform.

During the Dutch auction, the price of the token is set after all applications have been accepted.

&#171;Net proceeds [from fundraising] will be provided to the Celo Foundation to fund ongoing development work and for community grants to support the ecosystem&#187;,- said a representative of the Celo Foundation.

The new capital complements the $ 30 million raised by the project earlier in the financing round. Well-known venture companies, including Andreessen Horowitz and Polychain Capital, took part in it.

Recall that an alliance of 50 companies, including Coinbase Ventures, Andreessen Horowitz and Anchorage, plans to create mobile financial applications on the Celo blockchain.