Celer (CELR)

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## Basics

* Based in:
* Announced on: February 2019
* Hybrid Rollup is live on Ropsten testnet (20-7-2020)
* Mainnet release:
* Its platform enables fast, easy and secure off-chain transactions and smart contracts. Celer plans to use Chainlink when payment is conditionally dependent on some future condition in the real world being met.
* From Week in Ethereum (11-5-2020):

*"Game developers with no blockchain knowledge today monetize their games through CelerX gaming SDK that leverages the underlying layer-2 scaling technology with ease. Celer has also released the world’s first skill-based real money game apps where players can join multi-player game tournaments and win cryptocurrency prizes."*

## Audits & Exploits

* Bug bounty program can be found [insert here].
* CertiK claims to have done an audit for them, according to their website (12-6-2020).

## Tech

* Whitepaper can be found [insert here].
* Code can be viewed [insert here].

### Interoperability

* From EthHub (27-7-2021):

*"Celer cBridge v1.0 is now live on mainnet! Users are now able to use cBridge to instantly transfer tokens across Ethereum, Arbitrum and Polygon with many more side chain and layer-2 chain integrations planned for in the near future."*

* From their blog (3-8-2021):

*"Within the first week of launch, Celer’s cBridge helped 600+ users bridging 1000+ cross-chain assets transfer with a $2.5M in total volume, while saving users more than $90K in total gas costs."*

### Sidechain L2

* From their announcement of their Hybrid Rollup (20-7-2020):

"*The Celer Sidechain adopts a hybrid architecture offering sidechain security via a Delegated Proof of Stake (DPoS) consensus for general dApps and mainchain security via optimistic rollup for specific usages such as token transfers. As a part of the Celer Coherent Layer-2 Platform, the rollup sidechain shares the same validator set with the state guardian network. The rollup sidechain validators and SGN validators will be elected and governed by the same layer-1 DPoS contract for staking, rewarding, and slashing."*

## Their Other Projects

### Layer2.finance

* From EthHub (27-4-2021):

*"Layer2.finance is a novel solution that allows people to access all existing DeFi protocols at a fraction of the cost by acting like a “DeFi Public Transportation System”."*

* From the Celer blog (22-4-2021):

*"With Celer’s advanced layer-2 rollup technology, multiple people split the cost of individual layer1DeFi transactions in a completely trust-free and non-custodial way. Enabled by a unified strategy abstraction, Layer2.finance’s community-built and community-hosted “turn-key” UI provides a simple one-stop-shop experience for users to navigate the increasingly complex DeFi landscape."*

### Lyra

* From EthHub #101 (18-2-2020):

"*This week, Celer announced the launch of their layer-2 state channel mainnet upgrade, Lyra, on Ethereum."*

## Upgrades

* From Week in Ethereum (11-5-2020):

*"Celer has just released a new state channel mainnet upgrade enabling everyone to easily run a layer-2 state channel node and to utilize the low-cost and real-time transactions enabled by Celer."*

## Usage

### Projects that use or built on it

* Celer has 1 million users on its state channel games (25-1-2021).

## Team, Investors, Partners

### Team

* Was founded by four PhDs from MIT, Princeton, UC Berkeley and University of Illinois Urbana-Champaign.
* Mo Dong, Co-Founder

### Investors

* Has had investment and possible contributions from NEO Global Capital
* Part of (9-3-2020) the portfolio of Arrington XRP Capital.
* Is part of the portfolio (20-4-2020) of Consensus Lab.
* Matter Labs; according to Matter Labs, the founders and leadership of a bunch of DeFi projects, among which this project, joined in on the $50m raise for zkSync (8-11-2021).

### Partners

* Partners with Wyre (As of 28-10-2019 on the website of Wyre)
* One of the four sponsors of Week in Ethereum (1-5-2020).