Discussion for CGP [0017]: Activation of Celo Community Fund

Governance
2

Hi folks – thanks for pushing this forward!

Will join the call later to discuss, but overall:

  • Technical mechanism: @nambrot suggested you create a multisig then call approve as the Governance contract to permit the multisig to spend up to a certain budget of the community fund. If it is necessary to revoke those funds, a subsequent governance proposal (or emergency hotfix) could reset the approval to 0. I really like this approach: That way the funds don’t ever need to leave the community fund until you’re actually approving a grant.

  • Separate framework from individual grant teams: I would love to see this be a framework for how teams of stewards set themselves up, but don’t see this limited to a single set of stewards or focus area. To that end, I would suggest we focus on agreeing a framework first, then have you three put yourselves forward for a given budget, focus area, and terms. E.g, we may have Deepak Patrick and Dee ask for X CELO with a management fee of Y for a focus area of “tools for governance, projects around network security, and decentralized economic projects including dexs, market making etc”. And then some other team at the same time makes a separate proposal to ask for A CELO with no management fee for some other focus area. I would also love at this point to see much more of a investment thesis and approach.

  • Finally, for guidance, I feel that 10% is a much higher management fee than I would be able to support.

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