CGP-49: cREAL Liquidity Incentives

Governance
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This is a discussions link for CGP-49 by @MilaRioja and @nraghuveera

CGP-49 can be found here.

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Hello!

We are very excited in Brazil with the cReal. “Early adopters” include:

Exchanges

Wallets

This means there are six different cash in and cash out options in the local market, most of them integrated with the local banking system and with PIX (a mobile payment system by the Central Bank). NovaDax will be also allowing for a crypto debit card, which is a first for the Celo community globally.

On the DEFI realm, initiatives like Moola, GoodGhosting, Ubeswap and Poof, among others, are also supportive of the cReal asset.

In this scenario, allowing for incentives seems to be an appropriate measure to further enhance benefits. These incentives will bootstrap liquidity to start the flywheel and gather momentum for demand, holding, and liquidity of cREAL, thereby supporting utility for real world use-cases including

  • Buying goods with wallets integrated with POS/Banking system and paying bills
  • Staking
  • Using cReal in prepaid cards

An allocation of CELO from the Community Fund could support incentives in the following way:

  • Liquidity incentives in CELO for users depositing cREAL into liquidity pools and protocols such as Ubeswap, Symmetric, Mobius, Sushi, and Moola Market.
  • Cashback rewards and other promotions

The actual amount of CELO rewards should be determined and voted on by the community, as well as how to best use this allocation to increase cREAL liquidity.

Thoughts?

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Prezados,

we are enabling Brazilian freelancers, to sell online gigs such as language- or music lessons into Europe and US. Those freelancers currently sell via web2 platforms Fiverr and Preply, using PayPal as the mean of receiving their international payments.

Value-transfer & off-ramping via PayPal, which is officially integrated with the above platforms, costs Brazilian freelancers >6% per transaction: that is, where Celo can compete strongly.

Our off-ramping partner is Alpha Fortress (funded by Flori Ventures). They answered this week with below statement my question:

By when would you accept a.) cUSD/ cEUR and b.) the cREAL in Brazil?

  • We are able to offer cUSD/cEUR for REAL conversions.

  • We haven’t found liquidity pools for cREAL so that’s why we haven’t listed it as a source currency, once we nail down the process for conversion from cREAL we will make it live via our API

We have already integrated cREAL and would strongly support CGP-49: cREAL Liquidity Incentives. Not only local off-ramping partners such as Alpha Fortress but also on-chain solutions such as “celocli exchange” would hopefully benefit from incentivized cREAL liquidity to kick-off critical eco-system services.

Thanks for pushing this important topic, @MilaRioja!

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Thanks @MilaRioja , this is great.

I’m also launching Celo Pay on Trelis.com and we will soon support cREAL (in Portugeuse too) allowing merchants to easily create payment links to get paid in cREAL. (Hopefully by early March).

One high return use of incentives that I see is to provide new wallets with dust (a small amount of CELO to pay for gas fees). This is a low cost way to reduce user friction.

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I very much support the idea of “adding dust”.

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Hi All! To update this thread here: recently a CGP for increasing cReal bucket size (and liquidity) has passed. For more info check: Discussion: CGP 58 - Increase cREAL Bucket Size - #2 by Nadiem

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Hey, guys! I wanted to invite you to take a look at this CGP (link: CGP63: Learn to Earn Campaign by deboraconconi · Pull Request #179 · celo-org/governance · GitHub). We are approaching a suggestion on how to promote Celo and cReal in Brazil.

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Hi @DeboraConconi! Thank you for proposing this, there’s a governance call coming up this week, please check out the governance process and come to the governance call to discuss this proposal with the community.

Also, check out the LATAM DAO and sync with @MilaRioja about a lot of the work she’s doing in Brazil and cREAL.

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@MilaRioja remember I told you that Towerbank in Panama is testing accepting Stables as USDT and USDC to directly convert in Fiat.

Also I have talked with the director and tell him to use Celo Stables also.
He is open to discuss with us. :call_me_hand:

I think could be another big use for all the Stables including $cUSD, $cEUR, $cREAL and the future $cCOP

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Hi @annaalexa, how are you?
thanks for replying.
I already inserted the forum in the link Governance Call #23 | November 17th, 2022.
@MilaRioja is supporting us on this Learn to Earn project too! :brazil:

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Amazing! It’s not on the agenda yet, but I see that it wasn’t updated to the most recent one. Please sync with @willkraft to make sure you’re on the agenda to present.

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@annaalexa obrigada!
@willkraft can you please add the proposal CGP63: Campanha Aprenda a Ganhar por deboraconconi · Pull Request #179 · celo-org/governance · GitHub in the governance call submission? ( Governance Call #23 | November 17th, 2022

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This is awesome. Are they aware of connect the world initiative?

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I am happy to see this post may have ignited two relevant proposals for the growth of local community resources: Discussion: CGP 58 - Increase cREAL Bucket Size - #2 by Nadiem (already approved) and your most recent proposal @DeboraConconi ! Hope the community sees value and embraces it.

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Idk we have to talk with them directly.
I will try to get an appointment and share with you to join us and talk with them.

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I think good to have @MichaelKwan onboard as he is actually the point of contact to the initiative. This website might be helpful too: https://celo.org/connect-the-world