Celo Community passes proposal to use Optimism OP stack for its Layer 2 migration
- 65 Celo addresses voted for the proposal to use Optimism's OP stack for its Layer 2 transition.
- The move would see Celo become part of the broader Ethereum ecosystem.
- Celo and Optimism are down more than 5% since the vote was passed.
In a vote that ended on Friday, the Celo (CELO) community passed the proposal to leverage Optimism's OP stack for its Layer 2 migration to Ethereum.
Also read: Celo price confirms breakout after CELO L2 migration details
Celo community approves OP stack proposal for L2 migration
cLabs, the developer firm behind Celo, proposed on May 3 that the Layer 1 blockchain transition to an Ethereum Layer 2 using the OP stack technology and voting for the proposal ended on Friday, with 65 addresses representing 14.6 million CELO approving the move.
Unlike previous proposals, the migration to become an Ethereum Layer 2 dubbed "CEL2" won't be "automatically upgraded" due to its nature and importance, said cLabs. Rather, it would require all Celo validators to make an update before any changes begin.
Read more: Optimism OP struggles to gain momentum despite alleged $90 million OP purchase by a16z
According to cLabs, the decision to choose the OP stack for Celo's transition is because it meets their needs in three specific categories: time to production, Ethereum alignment, and positive-um growth. Celo had earlier announced its intentions to transition into an Ethereum L2 in July 2023 using the OP stack.
However, the Celo team had to reconsider its decision following competitive Ethereum L2 tech stacks like Polygon CDK, Arbitrum Orbit, and ZK Stack, fronting for the Layer 1 blockchain to use their technology. After months of deliberation, cLabs decided to stick with its initial plans of leveraging Optimism's OP stack.
"Among the many strong options that were presented, the most direct path forward to building CEL2 is to leverage the OP Stack," said cLabs. The move will see Celo join Optimism's "Superchain'' of L2s, which includes Base and Mode networks.
Also read: Offchain Labs discloses two serious security vulnerabilities in Optimism OP Stack
Meanwhile, Celo Creators Fund also announced finalists for its grant programs to NFT artists.
Following the latest developments, Celo and Optimism's prices remained trading in the red, both down more than 5% in the past 24 hours.
Author
Michael Ebiekutan
FXStreet
With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addi
