$cCOP - Initial Liquidity and Marketing Plan

Governance
19

Hi Juan and team,

Congrats on getting this conversation started with a well-written plan.

First, I generally don’t think Celo Governance should vote on any significant proposals in the coming period until we’ve resolved the proposals articulated in Celo Governance Development Sprint ahead of CEL2 and connected threads.

Sharing my initial feedback on the proposal:

  1. My biggest concern: Lack of an existing and formal group taking charge of this initiative, building a team + organization + driving adoption simultaneously is a costly and intense effort. I would rather have an existing company or team make a real commitment (capital/talent/support) before considering an ask of this size.

  2. Connected to that, it’s unclear who “We” is in this proposal and how the group would be organized. I see various names on the multisig who seem capable; however, it’s unclear which person is committing to which role and how this group will be formalized.

  3. Based on the Multi-sig names, it seems the Treasurer will be an “anon” which is a major red flag for various reasons.

  4. Size of the ask: I think the 2-year scope and requested liquidity are too high. I believe market demand and potential could be proven with an initial 6-month budget with much smaller pools (and less). I would imagine something in the direction of:

~$50-100K USD worth of cCOP minted through Mento
~ $25k USD worth of cCOP <> cUSD and cCOP <> CELO liquidity each
~ $25K USD of OnRamp/OfRamp liquidity - Only work with 1 or 2 venues
Pilot / Marketing plan budget for 6 months.

In addition, I believe large liquidity asks should follow separate rules and remain under direct custody of the Celo Treasury. This includes Collateral Backing, DEX Liquidity, and CEX Liquidity.

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