Celo, Shopping for Blockchain Partner, Turns to the Delicate Issue of Money

Celo, an emerging blockchain platform, is currently in the process of selecting a suitable partner to provide the necessary technology for its transition to a layer-2 network on Ethereum. Several prominent players in the blockchain industry, including Optimism, Polygon, zkSync, and Arbitrum, are competing for this opportunity by presenting their technical proposals and economic terms. The evaluation process is reaching its final stages, with discussions now focusing on the financial dimensions and incentive programs offered by the candidate stacks. Terms such as revenue sharing are of particular importance to builders of layer-2 networks. Celo, ranked 26th in terms of total value locked, has attracted significant attention from major layer-2 networks aiming to establish themselves as leaders in this rapidly evolving space. This competition has assumed an intriguing significance within the blockchain industry, resembling a beauty pageant akin to “The Bachelorette.” Celo is looking for the stack that best suits its needs, rather than simply opting for the most prominent one. The candidate projects have gone to great lengths to woo Celo, offering test networks, technical assistance, and access to key personnel. Each team has demonstrated their commitment, with Optimism providing an internal testnet, Polygon sharing technical expertise and testnets, zkSync participating in detailed technical discussions, and Arbitrum responding to inquiries in shared communication channels. The decision on the preferred partner is expected to be made in the near future, once the comprehensive proposal has been thoroughly assessed.