Market Cap: $2.7587T 3.670%
Volume(24h): $80.4183B 68.500%
Fear & Greed Index:

33 - Fear

  • Market Cap: $2.7587T 3.670%
  • Volume(24h): $80.4183B 68.500%
  • Fear & Greed Index:
  • Market Cap: $2.7587T 3.670%
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
Top Cryptospedia

Select Language

Select Language

Select Currency

Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos

What currency is Celsius (CEL)?

Celsius (CEL), an ERC-20 token on the Ethereum blockchain, incentivizes users with rewards, fee reductions, voting rights, exclusive access, and community governance.

Nov 28, 2024 at 07:40 pm

What Currency is Celsius (CEL)?

Celsius (CEL) is the native token of the Celsius Network, a cryptocurrency lending and borrowing platform. CEL is an ERC-20 token that runs on the Ethereum blockchain.

5 Key Features of Celsius (CEL)

  1. Earn Rewards: CEL holders can earn rewards by staking their tokens on the Celsius platform. Rewards are paid out in CEL and can be used to reduce borrowing costs or earn additional interest on deposits.

    • To stake CEL, users must create a Celsius account and deposit their CEL tokens into a staking wallet. Rewards are paid out daily and are calculated based on the amount of CEL staked and the user's loyalty level.
  2. Pay Reduced Fees: CEL holders can pay reduced fees on the Celsius platform, including borrowing fees, withdrawal fees, and currency exchange fees.

    • To access reduced fees, users must hold a certain amount of CEL in their Celsius account. The amount of CEL required varies depending on the fee type.
  3. Vote on Proposals: CEL holders can vote on proposals that affect the Celsius platform, such as changes to the reward structure or the addition of new features.

    • To vote, users must hold a minimum amount of CEL in their Celsius account. The minimum amount required to vote varies depending on the proposal.
  4. Exclusive Access: CEL holders can access exclusive features on the Celsius platform, such as higher loan-to-value ratios, lower interest rates, and priority access to new products and services.

    • To access these exclusive features, users must hold a certain amount of CEL in their Celsius account. The amount of CEL required varies depending on the feature.
  5. Community Governance: CEL holders play a role in the governance of the Celsius Network through the Celsius Improvement Proposal (CIP) process. CIPs are proposals that can be submitted by CEL holders and voted on by the community.

    • To submit a CIP, users must hold a minimum amount of CEL in their Celsius account. The minimum amount required to submit a CIP varies depending on the proposal.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Related knowledge

All MANTRA team tokens are locked, why did OM still experience a sharp drop?

All MANTRA team tokens are locked, why did OM still experience a sharp drop?

Apr 20,2025 at 11:14am

Introduction to MANTRA and OM TokenThe MANTRA project is a blockchain platform that aims to provide a scalable and secure environment for decentralized applications (dApps). The native token of the MANTRA ecosystem is OM, which plays a crucial role in governance, staking, and other functionalities within the platform. Recently, the MANTRA team announced...

MANTRA announces OM support plan. Can repurchase and destruction stabilize the currency price?

MANTRA announces OM support plan. Can repurchase and destruction stabilize the currency price?

Apr 21,2025 at 01:57pm

MANTRA, a notable player in the cryptocurrency ecosystem, has recently announced an OM support plan that includes mechanisms for repurchasing and destroying tokens. This move has sparked significant interest and discussion within the crypto community, particularly around its potential impact on the stability of the OM token's price. In this article, we ...

A large amount of OM was liquidated due to collateralization, causing a sharp drop? MANTRA analyzes the reasons for the market turmoil

A large amount of OM was liquidated due to collateralization, causing a sharp drop? MANTRA analyzes the reasons for the market turmoil

Apr 21,2025 at 01:57am

The cryptocurrency market is known for its volatility, and sharp price movements can often be attributed to a variety of factors. Recently, a large amount of OM (Mantra DAO's native token) was liquidated due to collateralization issues, leading to significant market turmoil. In this article, MANTRA analyzes the reasons behind this event and the subseque...

MANTRA CEO promises to destroy team tokens, can OM market restore confidence?

MANTRA CEO promises to destroy team tokens, can OM market restore confidence?

Apr 21,2025 at 08:28am

The recent announcement from the CEO of MANTRA about destroying team tokens has sparked a wave of discussions within the cryptocurrency community. This move is seen as a strategic effort to restore confidence in the OM market, which has been facing various challenges. The decision to burn team tokens is not just a simple action; it involves a series of ...

How will MANTRA respond after the OM token plunge? Buyback and destruction plan revealed

How will MANTRA respond after the OM token plunge? Buyback and destruction plan revealed

Apr 19,2025 at 11:42pm

The recent plunge in the OM token price has left many investors and enthusiasts of the MANTRA ecosystem concerned about the future stability and value of their holdings. In response to these market fluctuations, MANTRA has announced a comprehensive buyback and destruction plan aimed at restoring confidence and supporting the long-term health of the OM t...

Did the MANTRA team sell off OM tokens? Official statement clarifies the lock-up situation

Did the MANTRA team sell off OM tokens? Official statement clarifies the lock-up situation

Apr 19,2025 at 10:56pm

The recent buzz around the MANTRA project and its native token, OM, has led to speculation and concerns within the cryptocurrency community about whether the MANTRA team has sold off their OM tokens. To address these concerns and clarify the situation, the MANTRA team has released an official statement detailing the lock-up situation of their tokens. Th...

All MANTRA team tokens are locked, why did OM still experience a sharp drop?

All MANTRA team tokens are locked, why did OM still experience a sharp drop?

Apr 20,2025 at 11:14am

Introduction to MANTRA and OM TokenThe MANTRA project is a blockchain platform that aims to provide a scalable and secure environment for decentralized applications (dApps). The native token of the MANTRA ecosystem is OM, which plays a crucial role in governance, staking, and other functionalities within the platform. Recently, the MANTRA team announced...

MANTRA announces OM support plan. Can repurchase and destruction stabilize the currency price?

MANTRA announces OM support plan. Can repurchase and destruction stabilize the currency price?

Apr 21,2025 at 01:57pm

MANTRA, a notable player in the cryptocurrency ecosystem, has recently announced an OM support plan that includes mechanisms for repurchasing and destroying tokens. This move has sparked significant interest and discussion within the crypto community, particularly around its potential impact on the stability of the OM token's price. In this article, we ...

A large amount of OM was liquidated due to collateralization, causing a sharp drop? MANTRA analyzes the reasons for the market turmoil

A large amount of OM was liquidated due to collateralization, causing a sharp drop? MANTRA analyzes the reasons for the market turmoil

Apr 21,2025 at 01:57am

The cryptocurrency market is known for its volatility, and sharp price movements can often be attributed to a variety of factors. Recently, a large amount of OM (Mantra DAO's native token) was liquidated due to collateralization issues, leading to significant market turmoil. In this article, MANTRA analyzes the reasons behind this event and the subseque...

MANTRA CEO promises to destroy team tokens, can OM market restore confidence?

MANTRA CEO promises to destroy team tokens, can OM market restore confidence?

Apr 21,2025 at 08:28am

The recent announcement from the CEO of MANTRA about destroying team tokens has sparked a wave of discussions within the cryptocurrency community. This move is seen as a strategic effort to restore confidence in the OM market, which has been facing various challenges. The decision to burn team tokens is not just a simple action; it involves a series of ...

How will MANTRA respond after the OM token plunge? Buyback and destruction plan revealed

How will MANTRA respond after the OM token plunge? Buyback and destruction plan revealed

Apr 19,2025 at 11:42pm

The recent plunge in the OM token price has left many investors and enthusiasts of the MANTRA ecosystem concerned about the future stability and value of their holdings. In response to these market fluctuations, MANTRA has announced a comprehensive buyback and destruction plan aimed at restoring confidence and supporting the long-term health of the OM t...

Did the MANTRA team sell off OM tokens? Official statement clarifies the lock-up situation

Did the MANTRA team sell off OM tokens? Official statement clarifies the lock-up situation

Apr 19,2025 at 10:56pm

The recent buzz around the MANTRA project and its native token, OM, has led to speculation and concerns within the cryptocurrency community about whether the MANTRA team has sold off their OM tokens. To address these concerns and clarify the situation, the MANTRA team has released an official statement detailing the lock-up situation of their tokens. Th...

See all articles

User not found or password invalid

Your input is correct