Celo plans to upgrade the token economic model and will publicly solicit opinions, proposing to introduce a buyback and burn mechanism.

Techub News, Rene, the president of the Celo Foundation, posted on X stating that the CELO token economic model will be upgraded, with consideration given to introducing a token buyback and burn mechanism to improve the long-term economic architecture. He mentioned that as network activity grows, the existing model needs to be redesigned to better accommodate the increasing demand for transaction fees. The upgrade process will be carried out in four stages: first, soliciting public feedback on the Celo forum, followed by inviting researchers, token economists, and ecosystem contributors to participate in the coming weeks; then proceeding with research and modeling; the third stage involves community review; and finally, completion through the governance process.