Celer (CELR)

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).

Bugs & Exploits

• On August 17, 2022 Celer Bridge Front-end experienced a BGP hijacking attack pointing its users to malicious contracts and losing $235K across multiple chains.

Tech

• Whitepaper can be found [insert here].
• Code can be viewed here.
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

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."

Interoperability

• 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."

• 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."

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

Celer Inter-chain Message (Celer IM)

• From their blog (25-4-2022):

"Through Celer IM, developers can build inter-chain dApps using the Celer Inter-chain Message SDK with efficient liquidity utilization, coherent application logic, and shared states across multiple blockchains. For example, ChainHop, a composable inter-chain liquidity protocol built using Celer IM, has also launched on mainnet today. Using ChainHop, users and developers can easily convert token X on chain A into token Y on chain B with just a single transaction.

In addition to ChainHop, we have 8 other launch partners: SynFutures, Mystiko, Swing, FutureSwap, Ooki, Rubic,  Solace, and Aperture. They are building inter-chain native dApps in the spaces of cross-chain governance, cross-chain yield aggregators, cross-chain synthetic asset trading, cross-chain privacy and other innovative use cases."

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."

• From EthHub (1-3-2022):

"Partnered up with Hop Protocol"

Roadmap

• Can be found [Insert link here].

Usage

Projects that use or built on it

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

Competition

• Sablier, Matic and Connext

Team, Funding, Partners

Team

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

Funding

• Gave Solace a grant (2022).
• 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).
• Is part of the portfolio (20-4-2020) of Consensus Lab.
• Part of (9-3-2020) the portfolio of Arrington XRP Capital.
• Has had investment and possible contributions from NEO Global Capital

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).

• From EthHub (1-3-2022):

"Lyra partnered up with Hop Protocol"

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