cLabs is planning to submit a governance proposal to freeze a part of the reserve cGLD as a step toward activating the stability protocol. The purpose of the stability protocol 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.
As of 5/29, this proposal is temporarily held off and there is an explanation below.
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