Celo Community Fund - Payments Post

Hi Celo community. I want to make an update on the community fund. The stewards have been working hard creating a legal structure and building a funding process. This process took us longer than expected.

We are ready to fund the first batch of applicants in the coming weeks.

Applicants: We have finished reviewing our first round of applicants. We are working on finishing up KYC/AML process before we are ready to fund.

Once we do the first round of applicants, we plan to streamline our process and create a faster turnaround time.

Expenses: We have incurred ~$50k in fees that we paid out of pocket as the bank account has been delayed. We have made a transaction from the community fund to pay this amount to cover the costs.

Salaries: However, given that we haven’t funded any grantees yet, the stewards have chosen not to take salaries until we fund our first batch.

Public: We will make all on chain transaction public along with details. You can find the spreadsheet here. If you have questions, please reach out.

:pray: Deepak, on behalf of CCF

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