Celo Community Proposals and Treasury Overview

Hi @LuukDAO - this is a huge super high value initiative. A few immediate questions.

  1. It would be interesting to see CGPs by those that request funding vs. those that aren’t affiliated with funding. This will also create better clarity around who is contributing to Celo without requesting funds.

  2. For “Ongoing Initiatives” - did any of the current initiatives apply for funding beyond a 12 month time frame? Does the 15M CELO annual spend assume that all of these initiatives are funded at the current level in 2024 and onward? Which initiatives are currently being counted towards the 24 month runway?

  3. Ecosystem DAOs - It seems like this needs way more strategic thought and oversight - and potentially a really clear area of where Celo could be returned. A few of them appear active, a few seem like they haven’t done anything and its dead money sitting. Are any of the ecosystem DAOs doing regular reporting on milestones achieved? Are the grants themselves tranched or linked to any sort of KPIs? I am thinking how we as a community will analyze the effectiveness of this next year. As a project builder and founder it has been really challenging to understand how to find and work with the different regional DAOs, and understand how we align our project objectives to their funding and “ecosystem mandate”. It is pretty disappointing to see all of the funding that is allocated to the Regional DAOs, but feel like there is no actual way to operationalize those funds to actually market Celo projects in those regions. Not to cast blame, but as an example between funds allocated and funds used well, even though GoodDollar is the top project on Celo for usage the only ecosystem DAO we ever “worked with” is Celo Africa, which seems to be doing the most active activities & reporting. None of the other DAOs have contacted our project or community members to host a workshop, invited to attend an event, host a GoodDollar workshop, etc. And this is all while we and other projects building on Celo are extremely funding strapped model but actually delivering usage. It seems like smaller budgets for ecosystem DAOs and allocating budget for founder summits or events would be in the interest of the community long-term.

  4. Ecosystem Programs - it would be good to know how much of the spend for ecosystem programs went towards software & dapp development vs. marketing / ecosystem.

  5. DeFi primitives - as a builder on Celo, we really suffer from lacking basic, functional DeFi protocols and primitives on Celo. Eg. savings / loans protocols, more DEX optionality, and overall efforts to increase and encourage liquidity for the small market cap tokens. I’d like to see this as a key strategic priority for the Celo Community fund - to get the top dapps and protocols across the Web3 deployed on Celo. It will also increase the chance of bringing their users and liquidity.

  6. My overall reaction is that Celo is a really strong brand amongst like-minded thinkers, but we have struggled to breakthrough to compete with other L2s on Ethereum in terms of dapps and liquidity. The use of the community fund reflects that.

For example, why is Gitcoin running the Climate rounds on Optimism instead of Celo? Especially when we are allocating over $2.7 mil to climate initiatives? This is like a major disconnect between what products will actually create the right market acceptance, bring the right audience, and right usage. How is it that liquidity for Celo projects is such a known and open issue in the ecosystem and no community proposals or funds were allocated to address it? It’s like we are lacking product / market fit for our builders.

Looking forward, my immediate reaction is less money should be spent on marketing and ecosystem initiatives and more should be committed towards developer tooling & dapp deployment and development on Celo. Of course, this also can and should be initiated by a process designed to identifying the biggest problems and challenges facing “the community” - aka the people building on Celo, and coming to some sense of shared priority of what to fund and build.

  1. I recommend as a community to halt any on-chain fund requests above $20k USD until there is better alignment on the strategic mandate of the community fund.

  2. What do you see as the next steps? How can we help?