Celsius NetworkCEL

Celsius Network Vision

Celsius believes that traditional financial institutions should not control the flow of credit to users worldwide. As such, the platform employs a proof-of-stake consensus mechanism that enables users to lend, vouch for, or borrow from one another. The goal is to create a self-governing solution for users engaged in the credit ecosystem, enhancing transparency and accountability.

CEL Token and Functionality

CEL is the official token of the platform that users can use to secure loans in traditional currency by using crypto as collateral. Members who place coins in the Celsius wallet can acquire CEL tokens as rewards for lending on thenetwork. CEL allows users to access utilities such as the ability to pay interest on loans at discounted rates and enjoy access to the platform and community.

Furthermore, the platform enables users to lend cryptocurrencies to earn interest, achieve a higher position in the community that impacts the interest gained, and receive interest rewards on crypto lending.

Celsius Network Community and Milestones

The Celsius Network has a strong community of 1 million users. Users can earn up to 17% yield on their assets and borrow currency at 1% on the platform. Additionally, the platform aims to distribute new coins to users every week.

History of Celsius (CEL)

The Celsius Network was founded in 2017, with the initial whitepaper released in Q3 of 2017. The leadership team includes Alex Mashinsky, co-founder, chairman, and CEO; S. Daniel Leon, co-founder and chief strategy officer; Nuke Goldstein, co-founder and CTO; and Roni Cohen-Pavon, chief revenue officer.