[DRAFT] - Grant request to deploy Tokpay a Tokenized US T-bill infrastructure for African retail investors on Celo Mainnet

Hey everyone, Ernest Kangwa here from Tokpay, please see below our proposal to deploy Tokpays Tokenized US-Treasury fund on Celo mainnet.


RWA tokenization is among the fastest growing verticals in web3 - as global financial heavyweights and crypto firms race to put traditional instruments such as bonds on blockchain rails.

Today the US tokenized Treasury Market has crossed $1.5b in TVL according to RWA.xyz , the tokenization of asset classes offers the prospect of driving efficiency in capital markets, shortening value chains and improving cost and access for investors.


A total of $2.4t total investable wealth is held by Africans, but there no opportunities available for African investors to create Wealth with minimal currency & political risk

Tokpay Provides liquidity exposure to an ETF of short term US Treasuries through the ETF Treasury fund (SHV) managed by blackrock with maturities of less than 1 year without moving outside the blockchain ecosystem.

Our Celo T-bill vault provides investors with direct exposure to a pool of short-dated T-bills through the vaults T-bill token, which is backed 1:1 by the Tbills, as well as cUSD, and USD.
T-bill holders will receive a return on there capital that reflects the returns provided by the underlying T-bill assets held by the vault. And at any given time, the vault will hold a portfolio of T-bills, cUSD and USD in designated on-chain and Off-chain venues, and investors can mint and redeem cUSD at any given time.


Through this proposal, we aim to allocate $110,000 in cUSD from the Celo community fund towards deploying the fund on Celo Mainnet.

Area of Focus

The scope of this proposal is to natively deploy and successfully launch our T-bill fund on Celo by the end of July 2024,
The associated fund will be allocated as below:

  • $100,000 to be held in a designated Celo wallet address to maintain a 1:1 ratio with our first $100k deployed T-bill fund to manage on-demand redemptions. Tokpay will send the initial investor deposit + accumulated interest on maturity back to the Celo wallet fund in the case of early redemption by investors.

  • $5,000 initial deployment cost

  • $5,000 Vault Smart Contract Audits.

Success criteria
The “TVL” is a key metric by which Celo community can measure the success of Tokpay.
To date over 10,20 users across Africa have registered interest in utilizing Tokpay to start there investing journey, and this will drive significant volume to the Celo chain.

Important Note
Tokpay will purchase more of the same underlying assets with the dividend proceeds when the underlying assets pays out a dividend.
Tokpay does not profit the dividend but accumulates in value as the dividends are reinvested.

Risk Associated
Tokpay is not registered as an investment advisor, broker-dealer , depository bank or credit union. Tokpay is a developer of the platform, and custody and clearing services are provided by regulated third-party entities.