As impactMarket approaches its second year helping secure the Celo network, we proudly stand as one of the few Celo native projects with a top 10 group validator. This message aims to spotlight the importance of validator support from Celo projects and invite the community’s participation.
We’re reaching out to the community to kindly request approximately 3 million votes to be delegated to our group. This support will enable us to launch two additional validators, greatly advancing our mission (each group can have up to 5 validators). The extra cUSD rewards will be instrumental in kickstarting the transition of impactMarket towards becoming a public good, funding Unconditional Basic Income initiatives, and securing the remaining 10K CELO needed for our fifth validator, contingent on receiving sufficient votes.
Staking CELO and delegating votes is straightforward through the Celo App or Terminal, with no risk or downside to the staker. Our group has maintained a strong performance record, as evidenced by our validator score.
Here is our group validator address: 0x21FB4411FA5828344c2788aB07D4cc12a12571b9
Further, we’re eager to discuss potential incentive structures that encourage projects to have their own validators, support network operations, participate in governance, and secure sustainable funding for continuous development and growth, particularly in challenging times.
Maybe it would be worth considering a community funding model that simplifies access to resources for creating and maintaining Celo validators. This could include providing CELO for validator setup (~10K CELO per validator), covering server costs, offering setup guidance, and easy/engaging ways to delegate votes (about 1.6 million votes needed per validator). Such a model would empower more projects to protect the network and benefit from a steady income of around ~$100 cUSD per day, per validator.
Moreover, this strategy could allow stakeholders to support their favored Celo projects by delegating votes to their validators via user-friendly Dapps like stCelo (when it includes that option), enhancing their financial sustainability without risk to the stakers.
As a Celo-native application layer protocol among the top 10 group validators, we are enthusiastic about seeing more projects support the network and, in turn, gain financial backing to continue making a meaningful impact.
Let me know your thoughts, feedback and suggestions about this topic.