I think there has been a lot of interesting points made and there seems to be general opposition to reducing the community fund share, however I would love to hear from these folks how else we should reduce CELO emissions right now given that we are overspending.
IMO, voter rewards should decrease as I believe a very large percentage of staked CELO is in the hands of “insiders” and not too many of eventual target stakeholders like retail or Celo target users are really currently earning the yield. Put differently, current “insider holders” (including myself) are earning outside yield at the expensive of future CELO holders.
Of course this is just speculation, but I do not believe that current voting patterns are at risk even with a significant reduction in yield. I don’t know concretely, but I wouldn’t be surprised if a significant percentage of locked CELO has no practical alternative as it is locked up in ReleaseGold contracts anyways.