Key Points of the Proposal
- Stage: [DRAFT]
- Authors: @CeloColombiano & Team
- Funding Request: 50,000 cUSD for DAO Operations, Community Building, and Future $cCOP Launch
Summary
CeloColombia DAO is already established and actively operational. Our proposal aims to expand and educate the Colombian community about the Celo blockchain ecosystem, with a particular emphasis on preparing for the adoption of Celo Peso ($cCOP)—the forthcoming Colombian Peso stablecoin on the Celo platform.
Since October 2022, we have been deeply engaged with local communities to promote and integrate Celo technologies across Colombia. Our presence on X (formerly Twitter) has grown to over 350 followers, and our Celo Colombia community and Telegram group now include 50 active members. Additionally, we established the Celo Colombia user on the Celo Forum over a year ago to facilitate dialogue and collaboration. Through allied initiatives like ReFi Colombia and its nodes including ReFi Medellín, we have reached more than 1,700 members, and over 300 individuals are involved in our ReFi projects.
We have organized a diverse array of activities to onboard individuals to the Celo ecosystem and the Valora wallet. These initiatives include in-person events such as mountain hikes, meetups, workshops, and interactive sessions aimed at merchants, entrepreneurs, local talent, and the broader community. Furthermore, we have introduced new talent to the Celo ecosystem through a collaboration with ReFi Colombia with English Seasons that incorporate onboarding to on-chain interactions and practical activities utilizing Celo tools.
To formalize and enhance our operations, we are seeking funding to address pending legal and operational tasks. Our focus is on fostering innovation, promoting financial inclusion, supporting sustainable development, and strategically preparing for the launch of the $cCOP stablecoin.
Disclaimer About CeLatam Independence
We have taken steps to ensure that CeloColombia DAO complements, rather than duplicates, the efforts of CeLatam DAO. By studying CeLatam’s Season 0 report and understanding their focus and roadmap, we aim to enhance CeLatam’s broader objectives by addressing the specific local challenges and opportunities in Colombia. While CeLatam focuses on a broader regional approach, CeloColombia DAO will particularly address the needs of Colombia’s blockchain ecosystem.
As part of this effort, we will continue communication with CeLatam’s leadership, including Cristobal Pereira, to ensure that efforts are aligned and no duplication occurs.
Motivation
Colombia’s strong interest in cryptocurrency is held back by challenges in blockchain adoption, limiting financial inclusion. CeloColombia DAO aims to change this by boosting blockchain awareness, fostering collaboration, and encouraging business development. By partnering with government, educational institutions, and the private sector, we’ll build a supportive ecosystem. Our educational programs will empower communities and prepare a workforce ready to embrace blockchain, advancing financial inclusion across Colombia.
Goals
- Utilize blockchain technology and stablecoins like $cCOP to provide accessible financial solutions to the unbanked population.
- Expand the use of Celo and decentralized technologies through education and $cCOP adoption, facilitating a transition to an inclusive digital economy.
- Encourage the development of Celo-based projects by local developers and entrepreneurs in key areas like remittances and mobile payments.
- Introduce $cCOP to shield users from currency volatility, offering a stable medium for daily transactions.
What we aim to solve
- Provide digital financial alternatives accessible via mobile devices to those without traditional banking.
- Lower fees and increase efficiency in remittances and transactions using Celo and $cCOP.
- Offer $cCOP as a stable option to hedge against fluctuations of the Colombian peso.
- Rebuild trust by offering decentralized and transparent financial solutions that return control to users.
- Educate the population through workshops, hackathons, and campaigns on the benefits of blockchain technology.
Challenges
Despite Colombia’s significant interest in cryptocurrency and a remittance market exceeding $10 billion in 2023, several obstacles hinder the adoption of the Celo ecosystem.
Regulatory uncertainty creates hesitation among users and investors. Ambiguous legal frameworks and a lack of clear guidelines stifle innovation and participation in blockchain initiatives. This lack of clarity discourages potential stakeholders from engaging with new technologies due to fears of legal repercussions or unfavorable regulatory changes.
Security concerns and an erosion of public trust present significant challenges. Many potential users worry about the safety of digital assets and the risk of loss due to price fluctuations. These concerns are compounded by regulatory ambiguities and a history of Ponzi schemes that have defrauded thousands of Colombians over time, significantly fracturing public confidence in new financial technologies.
Additionally, the absence of tailored applications addressing local needs—such as financial inclusion for the unbanked, high transaction costs, and economic instability—limits the practical utility of blockchain technology in Colombia. Without solutions designed to tackle these specific challenges, widespread adoption remains unlikely.
CeloColombia DAO proposal aims to address these issues by adopting a structured, community-driven approach to blockchain. The DAO will emphasize education, forge partnerships, and develop Celo-based solutions tailored to the Colombian market. It will also prepare for the launch of $cCOP, ensuring its smooth integration into the local economy and utilizing remittance flows to enhance financial inclusion and drive innovation, in order to educate people about digital assets and promote its use in local businesses.
Specification
CeloColombia DAO will focus on building community through a variety of initiatives, including active social media engagement, organizing local meetups, and participating in significant industry events such as Colombian Fintech Forum, and Tech Week Medellín.
The DAO will also actively seek other relevant events and opportunities within Colombia’s blockchain and fintech sectors as they arise. Moreover, it will work to establish partnerships with local businesses and stakeholders to promote the adoption and integration of Celo’s ecosystem in Colombia.
General Crypto adoption in Colombia
Colombia is the 15th country globally in cryptocurrency adoption and ranks among the top five in Latin America, alongside Brazil and Argentina. Monthly cryptocurrency transactions in the country reach about $70 billion, with over 600 buying and selling sites. In 2022, Colombia received $9.43 billion in remittances, ranking fourth in the region after Mexico, Guatemala, and the Dominican Republic.
The Colombian Central Bank (Banco de la República) stated in Concept SCD-14893 (March 30, 2023) that cryptocurrencies are not legal tender, currency, securities, or financial assets equivalent to cash. Their use is permitted, enabling parties to mutually agree to conduct transactions with them. Various authorities have provided guidance on their classification:
- DIAN: Cryptocurrencies are considered intangible assets that can generate income (Concept 915014, October 14, 2022).
- Superintendency of Companies: It is lawful for companies to engage in crypto-related activities (Concept 220-139607, July 17, 2023).
- Technical Council of Public Accounting: Cryptocurrencies are assets, classifiable as inventory (IAS 2) or intangibles (IAS 38), depending on their use (Technical Orientation No. 20, June 5, 2023).
Furthermore, reflecting the growing institutional interest in digital assets, major Colombian banks are exploring the development of centralized stablecoins pegged to the Colombian peso. Notably, the largest bank in Colombia, Bancolombia, recently announced its digital wallet Wenia and the wCOP, a centralized stablecoin pegged to the peso. The bank aims to reach 70,000 users in the initial months following its launch, preparing for the upcoming years of technology adoption in the country. This initiative signifies a significant step towards integrating blockchain technology into the mainstream financial system. The involvement of leading financial institutions like Bancolombia may influence regulatory perspectives and enhance public trust, potentially accelerating the adoption of digital currencies across the nation.
Celo Current Status
Celo is actively growing in Colombia, driven by its public goods funding initiatives and focus on supporting local projects. The Celo ecosystem has allocated funds through various regional grant programs to encourage development and adoption. In early 2024, Celo initiated proposals that include funding for local projects and collaboration with global initiatives. There is ongoing support for incubating projects and enabling community-led development, showing strong engagement and growth in the Colombian market.
Execution Plan
CeloColombia DAO has developed a strategic execution plan to advance the adoption of the Celo ecosystem in Colombia, with a special focus on preparing for the integration of the $cCOP stablecoin. Recognizing the significant opportunities and existing challenges within the Colombian market, our plan is designed to address key areas that will drive growth, education, and adoption.
Metrics and KPIs
To measure the success of our initiatives, we have established clear metrics and KPIs:
| Metric | KPI | Description |
|---|---|---|
| Community Growth | ||
| Telegram | +150 | Increase the Telegram community by at least 150 members to expand our reach and engagement. |
| X (Twitter) | +500 | Grow the Twitter account by 500 followers to enhance visibility. |
| Community Engagement | ||
| Meetups | +5 | Organize 5 meetups in major Colombian cities, with ~50 participants each. |
| Total Members Across Platforms | +650 | Achieve a combined increase of 650 members on Telegram and Twitter. |
| Education and Awareness | ||
| Educational Campaign Reach | 2000 | Reach at least 2,000 individuals through campaigns in the local language. |
| Engagement Rate | 5% | Attain a 5% engagement rate on educational content. |
| Workshops/Webinars | +6 | Conduct 6 workshops or webinars, with 50 participants each. |
| Local Hackathon | 100 | Organize a hackathon with 100 attendees to foster innovation. |
| Event Presence | ||
| Participation in Major Events | 1 event | Secure presence at key events like the Fintech Forum or Tech Week Medellín. |
| $cCOP Integration Preparation | ||
| Strategic Plan Development | 1 | Develop a comprehensive plan for integrating $cCOP into the economy. |
| Liquidity Strategy | 1 | Formulate a strategy for early adoption of $cCOP. |
| Partnerships with Local Businesses | 1 | Establish one partnership for $cCOP use cases. |
By setting these specific metrics and KPIs, we can effectively monitor our progress and ensure that our efforts are aligned with our overarching goals of expanding the Celo ecosystem, fostering community engagement, and preparing for the successful integration of $cCOP in Colombia. These targets are ambitious yet achievable, providing clear benchmarks for success over the next six months
Timeline and Milestones
To effectively implement our initiatives and achieve our objectives, we have outlined a detailed timeline with specific milestones over a six-month period. This structured approach ensures that each phase of the project is executed systematically, allowing for continuous progress evaluation and timely adjustments.
| Item | Description | Time |
|---|---|---|
| Establishment Plan | Legal framework setup, multisig wallet, website launch. | Month 1 |
| Social Media and Community Setup | Start outreach via Telegram, Twitter, and Discord. | Month 1 |
| Educational Workshops | Initial workshops and partnerships development. | Months 2-3 |
| Meetups and Webinars | Further events and hackathons organized. | Months 4-5 |
| $cCOP Strategic Plan | Finalize liquidity strategy and marketing plan. | Month 6 |
By adhering to this timeline, CeloColombia DAO will systematically build a solid foundation, foster a vibrant community, and prepare for the successful integration of $cCOP into the local economy.
Budget Breakdown
The CeloColombia DAO project has a budget allocated to various initiatives aimed at promoting Celo-based solutions and driving $cCOP adoption. Social media and community engagement include setting up a website, social media channels, and maintaining active community interactions, along with hiring a part-time community manager. Event and outreach efforts focus on organizing local meetups, educational workshops, and a hackathon to engage participants and support developers working on Celo projects. Partnership development involves establishing relationships with local businesses and institutions, while preparation for $cCOP integration includes developing a strategic plan. Lastly, the budget covers DAO management and establishment costs, amounting to a total of cUSD 50,000.
| Category | Description | Budget |
|---|---|---|
| Social Media Setup | Website, branding, and social media creation | $3,000 |
| Telegram Engagement | Maintenance and community interaction tools | $2,000 |
| Community Manager | $1,000/month for 6 months | $6,000 |
| Meetups | Venues and materials for 5 meetups | $7,000 |
| Workshops/Webinars | Costs for 6 events, including promotional items | $7,000 |
| Hackathon | Venue, grants, and materials | $7,000 |
| Partnership Development | Support for business integration and pilots | $4,000 |
| DAO Setup and Management | Legal, admin fees, and part-time manager | $12,000 |
| Total | $50,000 |
Transparency in Fund Management
All funds managed through the multisig will be accompanied by a transparency system. This system will provide a clear breakdown of how funds are used and spent, ensuring responsible and transparent management of resources. Any funds left by six (6) months of operations will be returned to the Celo Community Treasury.
The system file will include information on all monthly recurring operating expenses, as well as costs associated with activities and incentives. This way, a complete overview of fund distribution and usage will be available in real time.
Additionally, periodic reports will be generated to reflect both recurring and partial results of each initiative and proposed space per month. These reports will allow for the evaluation of the impact and effectiveness of the actions taken, facilitating continuous feedback to improve future initiatives.
This strategy not only promotes transparency but also fosters trust among stakeholders, ensuring that all participants are aware of how resources are managed and what results are achieved.
Team
A dedicated team is set to effectively consolidate CeloColombia DAO and implement the $cCOP project. The team’s commitment will focus on fostering education and organization to ensure a seamless adoption of blockchain tools and opportunities. By actively engaging with the community, hosting educational initiatives, and providing resources, the team aims to enhance understanding and encourage participation in the ecosystem. These efforts will pave the way for $cCOP to positively impact the Colombian economy and improve the lives of its citizens.
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Ximena Monclou - Leadership
- A Colombian lawyer and accountant, Ximena holds specializations and a master’s degree in corporate law and taxes. Passionate about creative and technological ventures such as blockchain (NFT art enthusiast), VR, AR, AI, and IoT, she is also deeply involved in DeFi and ReFi. An entrepreneurial spirit, Ximena is a partner in a law and accounting firm in Medellín and co-founder of a social enterprise promoting creative talent and the cultural economy.
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Khadija - PM and Educations Ops
- As a newcomer to the Web3 landscape, Khadija is committed to deepening her understanding and cultivating her proficiencies. Fueled by a deep enthusiasm for learning and sharing, she focuses her efforts on ongoing personal and professional development, aiming to utilize her knowledge to enhance education and integrate the community into the various opportunities presented by the Web3 ecosystem. In recent months, she has participated in a range of Web3 initiatives, applying her skills to contribute effectively to different projects. This hands-on involvement has deepened her comprehension of the ecosystem and its potential, further motivating her passion for innovation and collective impact.
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0xflypeztic - Social Media Manager
- A recent entrant into the dynamic Web3 space, 0xflypeztic is continuously learning and building on her expertise. With a solid background in social media management and graphic design, she manages the social media presence for organizations like ReFiDAO, ReFi Medellin, Fundación Salvaterra, and CekiIrgCo. Over the past few months, she has been actively involved in various Web3 projects, applying her skills and gaining valuable experience. She is committed to continuous growth, exploration, and skill development within the Web3 ecosystem.
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Londo.eth - Growth
- With more than 15 years of experience in growth and operations across various industries, including edtech, startups, and multinational marketing giants, Londo.eth has made substantial contributions to the crypto world, including working on projects like Binance. His expertise has been instrumental in driving operational growth. Currently, he leads growth efforts for a dynamic startup across Latin America, driven by a passion for bringing innovative solutions to the region.
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Wabisabi - Business Development
- With over 5 years of experience as a Business Development Manager and Partnerships lead, Wabisabi has worked closely with Web3 projects focused on financial inclusion. As an Ecosystem Lead at the Celo Foundation, Wabisabi made a significant impact in Colombia, Venezuela, Perú, and Panamá. Currently, a full-stack developer in progress and a growth strategy enthusiast, Wabisabi brings both technical and strategic insights to the Web3 space.
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A.O. - Advisoring
- A.O. has been actively involved in community and ecosystem growth efforts, working across multiple ecosystems and projects to explore user adoption strategies in Web3. Although their involvement may not be complete, A.O. is a strong supporter of the project, fully committed to its success and the delivery of impactful outcomes.
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0xj4an - Advisoring
- More than a year ago, 0xj4an proposed the idea of $cCOP and has since been a key contributor to Celo’s mission, spreading awareness in Colombia, organizing workshops, talks, and leading communities on the ImpactMarket platform. He has worked closely with the ReFi movement, leading the ReFiMedellín node in Colombia. A co-creator of CeLatam (Formerly W3LatamDAO), 0xj4an has submitted multiple on-chain Governance Proposals and has over two years of experience in moderation tasks. He has also played a role in Celo’s public goods efforts and has been a Governance Guardian for over a year.
Initial Multisig and Governance
A multisig wallet will be utilized to manage funds, requiring 3 out of 6 approvals for any transaction. This added layer of security ensures that decisions regarding fund allocation are made collaboratively. Initially, the wallet will be governed by a select team of signers who will oversee transactions and maintain transparency. As the DAO evolves, there are plans to expand governance to include more community members, fostering a sense of ownership and participation in the decision-making process. This approach not only enhances security but also strengthens community engagement and trust as the DAO grows.
Multisig Address
0x6C6Dc3D4869d9812d80600B9F7f291e13Ee73D49
Initial Signers
- Londo.eth: 0xaAa6F4Fb5931C595648fF0df4D79B42FbA949187
- 0xflypeztic: 0x9F75582d2bE13b5EE454161EE394daadA8B39efa
- Ximena Monclou: 0x0ce522CAD66Fa4D6529B2Db76E0A91D53296D58b
- 0xj4an: 0x8f51DC0791CdDDDCE08052FfF939eb7cf0c17856
- AO: 0x94194d1280A5B45aBE551e41b69E1059059735AF
- Celo Colombia DAO (Backup): 0x12BD1596d7cfbf7c18F08499B54A31C980989070
Conclusion
The establishment of CeloColombia DAO represents a significant opportunity to advance the adoption of blockchain technology in Colombia, fostering innovation, inclusion, and economic growth. By prioritizing community building, CeloColombia DAO seeks to create a robust network of supporters and contributors who are passionate about leveraging blockchain for social impact.
In its initial phase, the DAO will focus on educational initiatives and outreach programs to raise awareness about the benefits of blockchain, particularly among underserved communities. This grassroots approach will help demystify the technology and demonstrate its potential to enhance financial inclusion and accessibility.
As the community solidifies, CeloColombia DAO will strategically set the stage for the launch of $cCOP, a digital currency designed to facilitate transactions and incentivize participation within the ecosystem. This token will empower local businesses, encourage the adoption of decentralized applications, and stimulate economic activity across various sectors.
Ultimately, CeloColombia DAO aims to become a leading force in the Colombian blockchain landscape, driving collaborative projects that address pressing societal challenges and fostering a vibrant, inclusive economy. By bridging the gap between technology and community, the DAO aspires to make blockchain a transformative tool for the future of Colombia.
At Fundación Salva Terra, we are thrilled about the proposal from CeloColombia DAO. It fills us with joy to see this effort to expand and educate the community about the Celo ecosystem in Colombia, especially with the preparation for the launch of $cCOP 
. We believe this is a very important step towards strengthening and enhancing the ongoing efforts of the community.
This project will not only help boost the adoption of decentralized solutions but also promote financial inclusion across our country. We applaud this initiative and share the vision of a future where blockchain technology becomes a key tool for transforming the economy and improving the quality of life for all Colombians. Let’s move forward together for a better tomorrow! 
, a colombian startup, we fully support this proposal, and we are also ready to give the $cCOP some use cases around clean energy investments.