Celsius CELBoost Price $ 0.0243

Celsius is a blockchain-based project that was incorporated in 2017 and held an ICO in 2018 for its CEL token. The platform aims to operate in a similar fashion to a traditional bank, but with crypto assets rather than fiat. Essentially, the platform allows users to take out loans collateralized by crypto or earn interest by depositing liquidity to the platform.

CEL has a maximum supply of 695,658,160. It functions as a utility token, and plays a vital role in the Celsius protocol operation. This includes taking out loans, making payments, and for distributing rewards

What are Celsius’ key features and how does it work?

There are four main participants of the Celsius network: Lenders, Borrowers, Celsius Platform, External exchanges. 

Lenders are those who deposit liquidity to the platform and can earn interest on their crypto. Borrowers are those who take leveraged short or long positions on the platform. The Celsius Platform itself facilitates the trading. Those using the platform incur trading fees. External exchange markets execute the trades themselves, and provide liquidity to the platform, or alternatively, borrow liquidity.

Lenders can deposit any cryptocurrency to the platform and begin earning interest. Funds can be deposited into a Lending Stake Pool. These pools are then lent to external exchanges and the interest earnt is redistributed to the original liquidity providers.

What can CEL be used for?

CEL is intended to be used as a rewards mechanism for the Celsius Network itself. It can also be traded on the open market, sold, and bought.

Where can you buy CEL?

CEL is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are FTX Spot, Huobi Global, Gate.io, MEXC Global and OKX. The price of CEL will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for CEL market prices, please view the price charts on this page.