|Issuing Price||$0.0067 USD|
|Initial Circ. Supply||1,965,033,333 (around 20% of Total Supply)|
|Total Supply||10,000,000,000 CELR|
Celer Network is a layer-2 scaling platform that enables fast, easy and secure off-chain transactions for not only payment transactions, but also generalized off-chain smart contract.
Celer's mission is to bring mass adoption for blockchain by providing a frictionless experience powered by the most advanced layer-2 scalability technology.
Celer provides a two-sided value proposition to both developers and end-users of the network
|Token Type||ERC-20 (as of TGE)|
|Seed Sale Allocation||11.5% of Total Supply|
|Seed Sale Date||April 2018|
|Seed Sale Price||$0.0065 USD / CELR|
|Seed Sale Amount Raised||$7.46 MM|
|Private Sale Allocation||15.5% of Total Supply|
|Private Sale Completion Date||August 2018|
|Private Token Sale Price||$0.0150 USD / CELR|
|Amount Raised||$23.25 MM|
|Launchpad Sale Allocation||6% of Total Supply|
|Launchpad Sale Price||$0.0067 USD / CELR|
|Launchpad Sale Date||19 March 2019|
|Amount Raised Public Sale||$4.0 MM|
|Current Circulating Supply||1,965,033,333 (~20%)|
As of 01 March 2019, Celer has used approximately 15% of TGE funds according to the allocations below:
Celer has prioritized progress on their development, and has thus spent a majority of funds for hiring top technical talent.
Tokens are stored in cold wallets with multi-sig support enabled.
The CELR token drives cEconomy, the off-chain cryptoeconomic incentive structure of Celer Network in the following ways:
The following chart represents the number and breakdown of all CELR tokens that are intended to be released into circulation on a monthly basis.
Note: The disbursal of PoLC Mining Rewards is subject to change as the project works on incorporating takeaways from its testnet activities.
However, the 25% of total token supply set aside for mining rewards is not slated to change the length in years that the block rewards are spread over.
Original Roadmap & Achievements
|PLANNED DATE||MILESTONE||ACTUAL DATE||TIMING||COMMENTS|
|2018: Q3||cChannel: generalized state channel contract release cRoute: continued research and evaluation cOS: SDK private beta release cEconomy: PoLC testnet launch Community: onboard 400 app developers||2018: Q3||On Time||cChannel public repo cRoute research continued with the writing of an academic paper SDK was released privately to prepare for ETHSF hackathon release PoLC testnet internally launched on private testnet Celer Network developer course reaches more than 1150 signups|
|2018: Q4||cChannel:initial multi-blockchain support (supporting ETH, DIFNITY and all EVM based blockchain)||2018: Q3||Early||Added full support for DFINITY in August|
|2018: Q4||cRoute: large-scale emulation and algorithm tuning cOS: SDK public v1.0 release cEconomy: PoLC mainnet ready Community: first off-chain service provider launch||2018: Q4||On Time||cRoute: Published and presented research paper with a top U.S. university CelerSDK: multiple hackathon hackers have used Android and iOS SDKs PoLC is mainnet compatible in private repo Community: single OSP serving all testnet transactions|
|2019: Q1||Public alpha launch of consumer-facing off-chain application platform cWallet (now rebranded CelerX)||2018: Q4||Early||CelerX App YouTube Medium|
|2019: Q1||Apps: launched two consumer-facing off-chain dApps External wallet integration||2018: Q4||Early||Korean wallet CoinUS successfully integrated CelerSDK and waiting for mainnet to launch|
By Q4 2018, some of the projects built on top of Celer included: an off-chain prediction market, a micro services with SLA guarantee, a better IDE UX for developing on Celer Network, a financial derivative trading market with instant order matching, and interactive games on Celer.
Celer Network is founded by PhDs from MIT, Princeton, UC Berkeley, and UIUC and has a deeply technical engineering team with years of industry experience from top startups or tech giants like Google, Amazon, Cisco, HP and more. Currently, Celer has 16 full-time team members.
Celer has 3 advisors - additional information on these advisors along with further detail on team backgrounds can be found in the Appendix.
Celer Token is not actively traded as of publish date of this report - the token will be available through the Binance Launchpad portal.
Celer has a total of 8 public and 31 private repos. There is no repo that is cloned or forked from another repo.
Celer has only released a portion of their code publicly at this stage of development. The release procedure is done as a single code drop each release; therefore, the number of contributors and the number of commits are all very small. Private repos metrics and overviews are the most informative in learning about the Celer project.
Celer native Android SDK
Celer native iOS SDK
cChannel-eth is a collection of smart contracts acting as the binding of cChannel abstraction and compiles to EVM bytecode.
Example game application built using Celer's cChannel abstraction
pb3-gen-sol is a proto3 to solidity library generator that supports proto3 native types and uses field option for solidity native types.
The majority of Celer's development across the core technology and product suite occurs in private repos. Additionally, the development team recently began to enforce commit squashing (one pull request only counts as a single commit) after the first testnet release at the end of October. As expected, the average commit number dropped after this date as reflected in the charts below and, therefore, does not represent reduced development activity.
Full node implementation of Celer Network
This repo hosts cChannel's implementations for different blockchains.
CelerX's Android version
CelerX's iOS version
proto3 implementation of Celer Network's communication protocol specification
Celer Network dApps contract templates and examples
State exchange backbone for state channel applications
Celer Developer environment
In February 2019, the project launched CelerX, the rebranded version of cWallet. CelerX, the mobile user entry point for Celer Network's newest Sirius testnet, now has more than 3,300 users, and more than 28,000 Gomoku games played in total. Users come from 40+ countries all over the world and opponents could potentially come from the United States, China, United Kingdom, India, Germany, Singapore, Japan, Russia, etc. On average, each user spent about 18 minutes on CelerX.
More details can be found here:
Celer Network released cWallet, a user-facing alpha on Android and iOS platforms in October 2018. In recent updates, cWallet has been rebranded to CelerX. CelerX now allows users to send payment instantly without any transaction fee and also showcase Gomoku, an interactive turn-based board game where users can compete with friends on the outcome of the game and win ETH in an entirely trust-free way. This game is a demonstration of Celer Network's power of off-chain smart contract.
|CelerX Landing View||CelerX Off-Chain Payment Feature||CelerX Gomoku Game and Off-Chain Payment Feature|
Celer Network's comprehensive cryptoeconomics & technology stack
More details can be found here.
With no monetary incentive for people to stay on the testnet, CelerX has reached 3，300 Monthly Active User (MAU). The highest Daily Active User (DAU) recorded is 396. In total, there are 28，924 Gomoku games played monthly with 9 games played per user, on average. The off-chain transactions were carried out with millisecond-level latency, which encouraged an 21% 7-day user retention rate in the app.
On the current testnet, Celer achieved 20ms blockchain transaction confirmation latency. As of now, the project is running the testnet so there is no fee involved. However, when Celer switches to mainnet, the transaction fee on Celer is going to be completely free for most of the blockchain transactions (off-chain smart contract). On the Centauri testnet, Celer has processed ~1.1 million off-chain transactions.
Celer Network Sirius Testnet User Statistics
Example hackathon projects built on top of Celer include:
Celer has a robust community development and growth strategy targeted at both end users and developers designed to successfully build a thriving blockchain ecosystem based on a staged rollout model.
In the first stage, Celer is focused on general market education and developer community building. The community's organic growth has been cultivated through long-term general education materials posted in Medium, Reddit and many other channels.
Celer has spent the majority of their efforts thus far in cultivating a strong developer community. To lower the barriers to entry for developers, the Celer team released a full-stack 12-lesson course to teach Ethereum Solidity dApp development. Registering over 2,000 students, the team also leveraged access to the students of this course to begin growing its awareness within the developer community. The project has also recently released courses for Celer SDK. With the existing knowledge of the previous course, developers only need to spend another 60 mins and can start to immediately develop based on Celer Network SDK.
The Celer team organizes weekly State Channel Researchers Calls that gather all the teams in the world studying and working on state channel research and development. The purpose of this call is to have a communication channel between multiple teams so they can discuss and arrive at a community standard on the API surface. The project believes community standards are super important for developer adoption as they significantly lower the risk of "wasted work" for early adopters. The project also believes it is important to collaborate in this phase among seemingly competing teams in order to first create a viable market. The researcher call is also a place to discuss the most cutting-edge advancement of off-chain scaling research and a lot of innovative ideas are exchanged during the calls.
Thirdly, the project was invited to several top tier developer-oriented conferences, workshops and hackathons. Celer has also been hosting high-quality developer meetups and gatherings globally. As an example, the project was invited as a speaker at CESC, ETHIS, Off-the-chain Master Workshop and many more high-profile conferences. In Prague, the project hosted a layer-2 meetup which gathered all the teams in the world working on layer-2 scaling into one room to discuss the important issues of layer-2 scaling and challenges ahead. The project was selected from 1000+ submissions to give a talk on Ethereum Devcon 4 about Celer Network, and was invited as judge for the ETHSF Hackathon, ETHSingapore Hackathon and ETHDenver Hackathon in February 2019.
For more details, please see the annual Celer report here.
|Celer Network||Lightning Network||Raiden||Loom Network||Liquidity Network||Trinity Network|
|Underlying technology||Generalized State Channel Network Side chain with plasma semantic||Payment Channel Network||Payment Channel Network||Side chain with DPoS semantic||Side-chain with plasma semantic||Payment Channel Network|
|Token functionality||See CELR Token Ecosystem||No token||Payment for extra services||SDK licensing Payment for services DPoS Staking for DAppchain||Payment for extra services||Payment for extra services|
|Channel routing algorithm||cRoute: Provably optimal performance, 20X higher performance than shortest path||Onion routing with shortest path on the overlay network||Shortest-path routing||Not applicable to Side chain||Not available||Not available|
|Trust-free off-chain smart contract support||Yes||No||No||No, only with DPoS support||No||Not|
|Multi-blockchain support||Ethereum, DFINITY||Bitcoin||Ethereum||Ethereum||Ethereum||NEO, Ethereum|
|Transaction Finality Latency||Low||Low||Low||High||High||Low|
|Liquditiy Shortage Solution||Liquidity Backing Auction + Proof of Liquidity Commitment||Not available||Not available||Not applicable to DPoS||Not available||Not available|
|Layer-2 state security solution*||State Guardian Network||Not available||Not available||Not applicable to DPoS||Not available||Not available|
|Mobile wallet support||iOS and Android||iOS and Android||Not Available||Not available||Android and iOS||Android|
|End-user application support||Micro payment Highly interactive esport games;||Micro Payment||Micro Payment||NFT token based games||Micro Payment||Micro Payment|
Note: There are other third-party solutions for state monitoring or "watch tower" solutions available for lightning network. However, they have significant disadvantages of centralization, high liquidity cost, hetereogenous interface for different states and assets, complex on-chain/off-chain interaction and finally a very rigid insurance model.
Celer Network's State Guardian Network is the only solution to above issues. More details can be found in this talk.
|Raja Daoud||Raja has 21 years of C/C++ experience, 9 years of Python, 3 years of Go, and assembly code optimization experience along the way. He has a long history of working experience from HP from 1995- 2000, Cisco from 2000 to 2003, Amazon from 2003 to 2007, SurveyMonkey from 2007 to 2011, Google from 2011 to 2017, Veriflow from 2017 to 2018. He primarily focus on high performance distributed system design and implementation. He co-designed and co-implemented the peer-to-peer sync protocol and infrastructure for different Vanadium Store models: Graph DB, Hierarchical DB, and Structured Key/Value pairs with nested data subsets, batch operations, blob references, fine-grained ACLs, p2p rendezvous of syncgroups.|
|Zixuan Wang||Rancho Wang received his Master's degree from Nanjing University. He has 6 years of Android app development experience. He worked as the Android dev lead for Nanjing Bank and Jiangsu Bank. He then worked as senior developer for Mogujie, a top e-commerce company in China, where he got 2 patents on a highly optimized Android Crash Protection System to maintain the crash rate of the app below 0.04% while the DAU was reaching 2 million. He has solid experience in app development, security safeguard and performance optimization on mobile devices. He is an early explorer and evangelist of blockchain technology with in-depth knowledge of smart contracts.|
|Yan Zhang||Yan Zhang received his Masters from CentraleSupélec, France. As one of the earliest and major contributors in mobile technology, he developed dozens of innovative and popular mobile products, and led an engineering team that created the world's largest scalable mobile AR UGC platform.|
|Yunjia Dai||Yunjia received his Master's degree from Columbia University. He joined Google display ads in 2014 to develop and evolve ad serving infrastructure for various products including AdSense, DoubleClick for Publisher and DoubleClick Bid Manager. He was the tech lead for display ad serving-reporting API and infrastructure which handle millions of events per second.|
|Jinyao Li||Jinyao received his Masters from Boston University. He was a mobile engineer for a social networking company. He used to lead team to build both Android and iOS application for company. He had plenty of experience on user interaction and view animation development.|
|Xuefeng Zhu||Xuefeng Zhu received computer science bachelor degree from University of Illinois at Urbana-Champaign with highest honor, and received John R. Pasta Outstanding Undergraduate Award. During his undergraduate, he worked with Mo Dong and Professor Brighten Godfrey on non-regret learning network protocol research. After graduated, he joined the network formal verification startup Veriflow founded by Professor Brighten and helped develop web service and web client. His work at Veriflow helped the client network visualization and management scaled up to large network containing thousands of network device. Later he joined Champaign Yahoo and worked on internal tools related to user KPI analysis. He also helped develop and release a open source data analysis report UI framework. In 2017, he worked with Mo Dong to develop a full-stack smart contract courses to Chinese developer community and achieved huge success.|
|Michael Zhou||Michael Zhou received his Master's from MIT. His research focused on programming models targeting massively parallel data flow architecture. At Google, he worked on compilers, static analyzers, virtual machines and development framework that support products serving billions of users.|
|Changfeng Liu||Changfeng Liu received CS Master degree from University of Michigan. He was a research assistant at UMich, UIUC and SJTU working on databases and data mining, and published several papers in top conferences of AI and data management fields. The algorithms designed by him have been adopted in Zenvisage, a data visualization exploration system developed at UIUC, and Acemap, an academic searching system developed at SJTU. He is also a blockchain enthusiast and an experienced developer in smart contract, and served as a teaching assistant in multiple online blockchain courses. He received National Scholarship twice during undergrad and graduated from Shanghai Jiao Tong University with honor. He filed three China patents.|
|Alex Wu||Alex graduated from School of Visual Arts with a Master's in design for Social Innovation because he believes our purpose is to create value for others. His training to work at a system level, using design thinking to facilitate conversation for understanding the context to solve problems has made him a thoughtful designer. Prior to joining Celer Network, he had experience working at Cornell Tech, SAP, and served as design advisor at multiple startups.|
|Taihung Lu||Tai-hung Lu received his Master of Design degree at DAAP of University of Cincinnati. After graduated, he joined SAP as a UX designer for designing and building internal applications.|
|Sirong Li||Sirong Li received her Master's degree in Business Analytics from University of Rochester. She has extensive work experience in market research, advertising, and consumer goods. Sirong is specialized in developing novel market strategies and making agile data-driven business decisions. At a Fortune 500 company TJX, Sirong facilitated organizational transition of the whole department with thousands of employees. At the world-leading marketing firm Ogilvy & Mather, Sirong delivered a series of marketing campaign for a Fortune 500 client and boosted sales significantly. Sirong is also an experienced project manager. She used to lead a team to help the client company to generate brand awareness and increase sales rapidly with various big data and machine learning techniques.|
|Pengying Wang||Windy (Pengying) Wang graduated from Boston University with the dual degree in International Relations and International Management. As the Vice President of MIT-CHIEF, she has led around 50 US-based startups back to China for the roadshow and connected with venture parks. Her business development and marketing experience at MassChallenge and China-US Boston Innovation Center urged her to actively take initiatives in the entrepreneurial ecosystems.|
The project team recently posted a series of layer-2 crypto economics by Celer Network videos. In the series, they address some of the critical challenges faced by layer-2 scaling solutions, and how Celer Network's products, such as state guardian network, liquidity backing auction and proof of liquidity commitment mining, solve these critical challenges.
The Celer team has provided the following recap of their community activities to date, as well as several recordings of their talks and presentations at past events.
"I wanted to focus on creating a turn-based PvP game. I built it in iMessage as an extension. So what Celer was great for this specifically was not only the payment layer for being able to say, oh here's your reward, here's your jackpot, but also for building types of games where when you're doing these one-to-one messaging or these turn-based games that you can modify point systems instantly, which is really really awesome."
"Once I got it all working, the team was very helpful and helped me a lot. It was very fast to make the transactions and very simple to use. I would definitely consider building more games on Celer SDK."
"We built a wallet within telegram messenger to allow users to send transactions instantly via telegram. Celer SDK is very simple to use. We're really curious to learn about what is under the hood for Celer. Once Celer release more open source, we will be really excited to check it out. We like it that Celer allows people to interact with its API and very simple to use. You don't need to know how it works but you can use it."
"CelerX has a really nice use and this is definitely the kind of the dApps that I would want to use in the future."
"With my layer-2 experience, seeing the instant payments and seeing them be final immediately are pretty incredible."
"I played the Gomoku game all night. Generally, the Ethereum takes me about two-minute for a small transaction, but for your game, the moment I deployed, the transactions are there!"
"CelerX dApps does feel like a regular app. The experience is pretty awesome, that I've been able to play decentralized games on the state channel level."
"CelerX helps speed up dApps and reduces the transaction costs. Users will be more acceptable to the blockchain."
"CelerX is very fast to make the transactions and very simple to use."