Celsius is a blockchain project incorporated in 2017 that ran an ICO in 2018 to issue its CEL token. The idea is to work much like a conventional bank, but using crypto assets instead of fiat. In practice, the platform lets users either borrow against crypto collateral or earn interest by supplying liquidity.

CEL has a maximum supply of 695,658,160. Acting as a utility token, it is used throughout the Celsius protocol. That covers actions like taking loans, making payments, and participating in how rewards are distributed.

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

The Celsius network includes four main participant groups: Lenders, Borrowers, Celsius Platform, and External exchanges. 

Lenders contribute liquidity to the platform and can earn interest on their crypto. Borrowers use the platform to open leveraged short or long positions. The Celsius Platform supports the trading process, while platform users pay trading fees. External exchanges carry out the trades, supply liquidity to the platform, or-alternatively-provide liquidity to borrow.

Lenders are able to deposit any cryptocurrency into the platform to start earning interest. Deposits go into a Lending Stake Pool, and those pooled assets are then lent out to external exchanges. The resulting interest is passed back to the original liquidity providers.

What can CEL be used for?

CEL is meant to function as a rewards tool within the Celsius Network itself. It can also be traded on the open market, including buying and selling.

Where can you buy CEL?

CEL can be traded on the CEXs and DEXs listed here. The most widely used exchanges with the greatest liquidity include FTX Spot, Huobi Global, Gate.io, MEXC Global and OKX. CEL’s price depends on the exchange selected and prevailing market conditions. For current and historical CEL price information, check the price charts on this page.