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.
Deepak, on behalf of CCF