The Celo Reserve

A diversified portfolio of cryptoassets supporting the ability of the Celo protocol to expand and contract the supply of Celo stable assets, in-line with user demand.

Learn more about Celo

Current Reserve Holdings







Non-CELO Crypto Assets







Current Composition


Stable Value Assets

Outstanding Supply

Reserve Ratio




Ratios of the value of the reserve in USD (for total and for unfrozen) to the value of all outstanding stable assets (cUSD, cEUR, as well as other future stabilized tokens supported by the reserve)

Reserve Addresses

Celo Reserve
Query Reserve Holdings

Reserve Target Allocation

The reserve targets the following allocation (based on protocol governance) over time. The CELO amount allocated to the reserve may be diversified into other non-CELO crypto assets, the market fluctuates constantly and the reserve rebalances systematically, so the actual holdings will be off-target initially. Reserve trades are generally done on exchanges (following best execution principles), with some of the initial diversification trades being done OTC, with multi-year lock-ups on CELO sold. Reserve rebalancings are happening biweekly, targeted in every odd calendar week. A primary upside of using crypto assets in the Reserve is that all user transactions with the Reserve can happen on-chain, in a decentralized and fully-auditable way.

Target Allocation


* Crypto Assets with low volatility. Candidates are decentralised stablecoins e.g. DAI
** Includes cMCO2


The Celo Protocol

The Celo protocol provides a platform upon which the Celo community can create stabilized value digital assets. These digital assets aim to track the value of an existing real-world asset (for example, the first one, cUSD, is designed to track the US Dollar). The Celo protocol also includes mechanisms for lightweight identity and ultralight mobile clients.

Read the Celo Whitepaper

The Celo Stability Mechanism

Celo allows for multiple stable-value assets where each asset tracks a measurable value, such as the Dollar, Euro, basket of goods in Greece, the price of a barrel of oil, and more. The protocol is designed to maintain a stable value for each of these assets by adjusting its supply to match demand. The reserve is a mechanism by which the protocol can contract supply.

Stable-value Assets <=> CELO & additional cryptoassets

Celo Stability WhitepaperCelo Price Stability Protocol

Reserve Eligible Assets

Reserve asset selection is done through governance by the Celo community. At the moment, any new reserve assets under consideration should be freely traded and settled 24/7 on liquid markets, and should be based on an open-source protocol.


CELO is held in the Reserve smart contract. The Celo Reserve ensures that non-CELO reserve assets are held safely through the use of approved, qualified and licensed custodians in a country that is not blacklisted by the Financial Action Task Force or subject to sanctions prohibitions. Custodians are required to make publicly available the assets they hold on behalf of the Celo Reserve to ensure that Celo stakeholders and the broader Celo community have full transparency with respect to reserve assets.

Reserve FAQ

Requests for Proposal

Third Party Attestations