Celo is a Proof of Stake blockchain with smart contracts. The technology uses a phone-number-based identity system with address-based encryption and eigentrust-based reputation. Their first application is a social payments system that can be used on a smartphone.
Celo is preparing to launch a variety of stable coins pegged to global fiat and crypto currencies, the first one being pegged to the US dollar (cUSD).
The native Celo token (CELO) is the utility token on the Celo network. CELO are used to pay for transactions and are also staked by token-holders to earn rewards, participate in governance, and to vote for validators.
You can find more information on Celo’s website and by reading the Celo Whitepaper. Their main communication channel is their Discord group, which can be found here.