Celo’s developer cLabs has seen its proposal to transition the blockchain from an independent layer-1 to an Ethereum layer-2 solution pass on Monday morning. According to the proposal page, 128 of the 131 votes were in favor of the transition, with two voting against and one abstaining.
The cLabs team announced the proposed move to the community on July 16, saying it followed months of research and initial discussions with Celo and Ethereum community members. The change is intended to simplify liquidity sharing between Celo and Ethereum, boost security, and facilitate a seamless developer experience. Celo is already compatible with the Ethereum Virtual Machine (EVM), allowing Ethereum developers to easily port over their existing apps or develop new ones using many of the same tools.
Celo said in the proposal that the benefits of the move will include “further Ethereum alignment and EVM compatibility, a stronger security assurances than Celo provides individually and a trustless bridge to Ethereum, simplifying liquidity sharing between Celo and Ethereum.” The native token of the blockchain, CELO, was trading 4% higher on Monday and is up 10% over the last seven days.