What is Celer Network?
Celer Network is a layer-2 scaling platform launched in 2018, designed to bring fast, secure, and low-cost blockchain interoperability and smart contract execution to multiple chains. The project employs the State Guardian Network consensus mechanism to facilitate off-chain transaction scaling while maintaining trust and decentralization. Celer Network stands out for its generalized state channel technology, cBridge cross-chain protocol, and the use of the CELR token for network operations and incentives.
Its native programming language support includes Solidity for smart contracts and Go for core protocol modules. Celer Network’s token standard is ERC-20, and it has built numerous partnerships across the blockchain ecosystem, including integrations with leading DeFi platforms and cross-chain bridges. The platform’s main use cases are decentralized finance (DeFi) applications, cross-chain swaps, and micro-payments, making it a popular choice for projects seeking seamless interoperability across Ethereum, BNB Chain, Polygon, and more.
Celer Network’s development and integrations are supported by a robust ecosystem, including the State Guardian Network, cBridge, and collaborations with major blockchain infrastructure providers.
Who are the founders of Celer Network?
Celer Network was founded in 2018 by a team of computer scientists and entrepreneurs: Dr. Mo Dong, Dr. Junda Liu, Dr. Xiaozhou Li, and Dr. Qingkai Liang. Each founder holds a PhD from prestigious institutions such as MIT and UC Berkeley, and they previously worked at organizations like Google, Microsoft, and Veriflow. Their combined expertise in distributed systems, networking, and cryptography has shaped Celer Network’s technical vision and architecture, establishing it as a recognized project in the blockchain interoperability space.
Celer Network project milestones
- 2018 — Celer Network founded and initial whitepaper released.
- 2019 — CELR ERC-20 token launched via Binance Launchpad token sale.
- 2020 — Mainnet for the State Guardian Network went live, enabling off-chain scaling and security.
- 2021 — Launch of cBridge v1 for cross-chain asset transfers between Ethereum, BNB Chain, and other networks.
- 2022 — Major upgrade to cBridge v2, expanding to over 30 supported blockchains and adding increased liquidity pools.
- 2023 — Integrations with multiple DeFi protocols and introduction of Layer2.Finance for multi-chain DeFi access.
How many CELR coins are in circulation?
As of the most recent data, CELR’s current circulating supply and total supply can be checked on major market data providers such as CoinGecko or CoinMarketCap. The max supply of CELR is capped at 10,000,000,000 tokens. The distribution follows a fixed supply model, with no ongoing inflation, ensuring that the total number of CELR tokens will not exceed the set maximum.
Tokenomics of Celer Network (CELR)
The CELR token is central to Celer Network’s ecosystem, serving multiple functions including transaction fee payments, staking, liquidity provisioning, and governance. Users can stake CELR in the State Guardian Network to actively participate in securing off-chain states and earn rewards. The distribution model for CELR was established through an initial token sale, with allocations for the team, advisors, community rewards, and ecosystem development.
CELR holders can lock their tokens to become State Guardians, responsible for monitoring and responding to fraudulent activities on behalf of users in off-chain states. This staking model incentivizes honest participation with rewards distributed in CELR. The network operates on an ERC-20 standard, and transaction fees for cross-chain swaps and micro-payments can be paid in CELR, depending on the specific dApp or protocol layer.
Governance over protocol upgrades and major changes is gradually moving toward CELR token holders via decentralized proposals and voting. With a fixed maximum supply of 10 billion tokens and no inflation, the tokenomics model ensures scarcity and aligns incentives between users, validators, and developers.
Risk disclaimer: Cryptocurrency markets are highly volatile. Always do your own research before making any swap or investment decision.
Key features of Celer Network
- State Guardian Network consensus: Celer Network uses a delegated Proof-of-Stake consensus model for its State Guardian Network, ensuring off-chain state security and rapid dispute resolution.
- Generalized state channels: The platform enables scalable off-chain smart contract execution, supporting micro-payments, gaming, and interactive dApps with reduced on-chain congestion.
- cBridge cross-chain protocol: Celer’s cBridge allows fast, low-cost transfers and swaps of assets across dozens of blockchains, supporting both ERC-20 and native tokens.
- Interoperability: Celer Network’s infrastructure supports seamless cross-chain swaps between Ethereum, BNB Chain, Polygon, Arbitrum, Avalanche, and many other networks.
- Smart contract support: Developers can deploy Solidity-based smart contracts and access Celer’s SDK to build dApps with advanced interoperability features.
- Security and decentralized governance: The State Guardian Network and on-chain governance mechanisms provide robust protection for users and decentralized control over protocol upgrades.
Average fees on the Celer Network network
Transaction fees on the Celer Network are typically considered low compared to mainnet Ethereum, thanks to the platform’s off-chain scaling and optimized cross-chain infrastructure. Most cross-chain swaps and transfers incur fees ranging from a few cents to under a dollar, depending on network congestion and the complexity of the operation.
Fees are influenced by several factors, including the underlying blockchain’s gas costs, current network congestion, and the amount or type of asset being transferred or swapped. Celer Network’s cBridge leverages off-chain liquidity pools and efficient routing, which helps keep fees competitive and predictable even during periods of high demand. Users can check current fee estimates before confirming their swap or transfer.
CELR crypto wallets
CELR tokens are supported by a wide range of crypto wallets, making it easy for users to securely manage, store, and swap their Celer Network holdings. Wallet options include mobile, desktop, hardware, and browser-extension types, many of which can interact with dApps or participate in staking.
- MetaMask — Popular browser extension wallet supporting ERC-20 tokens, cross-chain swaps, and custom network integration.
- Trust Wallet — Multi-coin mobile wallet with DApp browser and direct support for CELR swaps and staking features.
- Ledger Nano S / X — Hardware wallets that allow secure offline storage for CELR; compatible through Ledger Live and third-party integrations.
- TokenPocket — Multi-chain mobile wallet with integrated swap features and support for Celer Network assets.
- imToken — Mobile wallet offering ERC-20 token management, DeFi access, and cross-chain functionality for CELR.
Why exchange Celer Network on SwapSpace?
- Aggregator model: SwapSpace is a crypto exchange aggregator that compares rates from multiple partner exchanges in real time, letting users select the best available rate for their CELR swap.
- Non-custodial process: All CELR is sent directly from the integrated exchange provider to the user’s wallet; SwapSpace never holds funds at any time during the swap process.
- No sign-up or registration: Crypto-to-crypto swaps require no account creation, email, or KYC, helping users exchange CELR instantly and privately.
- Fixed and floating rate options: Users can choose between fixed rate swaps for price certainty or floating rate swaps to capture potentially better rates at execution.
- Thousands of supported coins: SwapSpace aggregates offers for over a thousand cryptocurrencies, enabling users to exchange CELR against a huge variety of tokens.
- 24/7 live support: The support team is available around the clock to assist with any swap-related questions or issues.
- Instantly compare offers: The aggregator model allows users to see and select the optimal rate for their CELR swap without manually checking each exchange.
Note: Cryptocurrency swaps carry risks. Always verify transaction details and consider market volatility before you exchange Celer Network or swap CELR for other digital assets.
