Summary
This proposal is related to the previous Proposal “Update RWA-focused Accelerator with Outlier Ventures”. That proposal is being submitted for vote without the option for investment. This proposal will carry forward the option to invest directly into two of the teams in Celo and OV’s joint RWA program.
Background
A vote is being submitted to have Celo join OV as a partner on OV’s RWA accelerator program. We would like Celo to help shape the vision and direction of the cohort, playing a part in the next wave of RWA technology by influencing cutting edge startups, expert OV staff, and the wider web3 ecosystem.
If the vote is passed and Celo joins us as our headline program partner, Celo’s mission will be illuminated and advanced in the following ways:
- Outlier Ventures will ensure through its thesis and team selection that at least 3 of the teams brought into the program will either be building on Celo, generally aligned with Celo’s mission of creating more equitable financial and social constructs, and/or focused on bringing certain benefits of web3 tech to developing economies.
- OV will generate media coverage, social media, podcasts, blog posts, and branding/PR assets in order to market this mission through the “RWA Base Camp Powered by Celo”.
- Opportunities for participation in major industry events alongside OV. We have plans to host and cohost many events this year and will include Celo as a co-host when appropriate, free of charge.
Overall Allocation
As a perk of the partnership, Outlier Ventures will create a unique opportunity for Celo to co-invest into two of the teams in this program. In exchange for $100k to each team (a total of $200k), Celo will receive a portion of OV’s token and equity allocation, equal to approximately 1-1.5% of the total supply from each team.
Exact equity and token provision could vary based on negotiations between OV and each team. This scenario represents a request for $200k commitment from Celo.
Conclusion
This proposal represents a unique opportunity for Celo to co-invest (in exchange for token and equity allocation) in early stage founders that have been accepted to OV’s best-in-class web3 accelerator.
We encourage all Celo stakeholders to participate in the discussion on this initiative which we believe could present significant upside for Celo’s treasury.