# Governance proposal to freeze part of the CELO in the Reserve **URL:** \ **Category:** Governance\ **Created:** [May 22, 2020, 4:26pm UTC](https://forum.celo.org/t/governance-proposal-to-freeze-part-of-the-celo-in-the-reserve/504 "2020-05-22T16:26:33Z")\ **Posts on this page:** 7\ **Page:** 1
**Author:** ![henryzhang](https://sea2.discourse-cdn.com/flex020/user_avatar/forum.celo.org/henryzhang/32/144_2.png) [@henryzhang](https://forum.celo.org/u/henryzhang)\ **Post date:** [May 22, 2020, 4:26pm UTC](https://forum.celo.org/t/governance-proposal-to-freeze-part-of-the-celo-in-the-reserve/504/1 "2020-05-22T16:26:33Z")
Hi Everyone, cLabs is planning to submit a governance proposal to freeze a part of the reserve CELO (previously called Celo Gold, cGLD) as a step toward activating the stability protocol. The purpose of the [stability protocol](https://celo.org/papers/Celo_Stability_Analysis.pdf) is to enable a family of stable value assets, such as cUSD. You may learn more about the details and background of this governance proposal on GitHub in the Celo Governance Proposal (CGP) folder [here](https://github.com/celo-org/celo-proposals/pull/22/files#diff-0dfcf0c86cc7a844c43099e4ba02dd8c). Anticipated timeline (updated on 2020/6/8): - **June 11** : cLabs plans to submit the proposal; CELO holders will have 24h to upvote. - **June 12** : If dequeued, approvers review the proposals. - **June 13** : If approved, CELO holders have 48h to vote YES, NO, or ABSTAIN. Given the proposed change, we expect the protocol will require ~11.4 million votes, but we would love to see 25 million votes for this proposal. - **June 15** : If the proposal passes, a part of reserve CELO will be frozen and programmatically become available to the reserve over time. Following the execution of this proposal, another proposal to unfreeze the exchange smart contract will be submitted to allow users to transact with the Celo reserve. If you have any comments or questions we suggest replying here (vs. reaching out on Discord, Telegram, or email) so as to keep the conversation asynchronous and inclusive. We look forward to hearing your thoughts, The cLabs team ---
**Author:** ![henryzhang](https://sea2.discourse-cdn.com/flex020/user_avatar/forum.celo.org/henryzhang/32/144_2.png) [@henryzhang](https://forum.celo.org/u/henryzhang)\ **Post date:** [May 26, 2020, 10:00pm UTC](https://forum.celo.org/t/governance-proposal-to-freeze-part-of-the-celo-in-the-reserve/504/2 "2020-05-26T22:00:42Z")
Because the initial reserve setup is taking longer than expected, the timeline has been pushed back by a week. ---
**Author:** ![henryzhang](https://sea2.discourse-cdn.com/flex020/user_avatar/forum.celo.org/henryzhang/32/144_2.png) [@henryzhang](https://forum.celo.org/u/henryzhang)\ **Post date:** [May 29, 2020, 8:57pm UTC](https://forum.celo.org/t/governance-proposal-to-freeze-part-of-the-celo-in-the-reserve/504/3 "2020-05-29T20:57:43Z")
Hi everyone, In recent weeks, we have seen several exchanges, including [Bittrex](https://global.bittrex.com/Market/Index?MarketName=USD-CGLD), listing CELO. However, we would still like to see a 2nd qualified exchange, meaningful trade volume, and reasonable volatility before we are confident that the price oracles are able to properly drive the stability protocol. It’s unclear that when this will happen, so we plan to hold off submitting the governance proposal to set frozen reserve CELO for now. We will keep you updated! ---
**Author:** ![henryzhang](https://sea2.discourse-cdn.com/flex020/user_avatar/forum.celo.org/henryzhang/32/144_2.png) [@henryzhang](https://forum.celo.org/u/henryzhang)\ **Post date:** [June 8, 2020, 9:31pm UTC](https://forum.celo.org/t/governance-proposal-to-freeze-part-of-the-celo-in-the-reserve/504/4 "2020-06-08T21:31:25Z")
Hi everyone, we have updated the anticipated timeline above. ---
**Author:** ![Gavin](https://sea2.discourse-cdn.com/flex020/user_avatar/forum.celo.org/gavin/32/41_2.png) [@Gavin](https://forum.celo.org/u/Gavin)\ **Post date:** [June 11, 2020, 9:29pm UTC](https://forum.celo.org/t/governance-proposal-to-freeze-part-of-the-celo-in-the-reserve/504/5 "2020-06-11T21:29:02Z")
Step 1 of 2 for this process has been launched as a proposal: [https://twitter.com/CeloGov/status/1271192578315161600](https://twitter.com/CeloGov/status/1271192578315161600) ---
**Author:** ![aslawson](https://sea2.discourse-cdn.com/flex020/user_avatar/forum.celo.org/aslawson/32/403_2.png) [@aslawson](https://forum.celo.org/u/aslawson)\ **Post date:** [June 12, 2020, 11:40pm UTC](https://forum.celo.org/t/governance-proposal-to-freeze-part-of-the-celo-in-the-reserve/504/6 "2020-06-12T23:40:27Z")
I realized I made a mistake and submitted the wrong JSON file for the proposal – I submitted the one from the previous proposal 3. Nothing would change if it gets executed (since it has already been executed). I’ve submitted a correct proposal 6. Sorry for the confusion. The timeline is expected to be pushed by one day. ---
**Author:** ![aslawson](https://sea2.discourse-cdn.com/flex020/user_avatar/forum.celo.org/aslawson/32/403_2.png) [@aslawson](https://forum.celo.org/u/aslawson)\ **Post date:** [June 16, 2020, 9:33pm UTC](https://forum.celo.org/t/governance-proposal-to-freeze-part-of-the-celo-in-the-reserve/504/7 "2020-06-16T21:33:08Z")
We’v aligned the GCP numbers with the Governance Proposal Id’s, you can see more about this proposal here: >