Granda Mento Exchange Proposal 1 Discussion: 1,000,000 CELO for 6,450,000 cUSD

[thezviad]

I am not sure where the wording changed between what we discussed vs the CIP, but here is @trevor summarizing our last video call discussion:

Discussion on Granda Mento: Enabling Larger Stablecoin Mints

Hey everyone, today @albertw, @asa , @Tobi, @thezviad and I had a call to discuss ideas around Granda Mento. A recap of the discussion: Though an auction-based system is attractive because they are open to everyone, with auctions come a lot of complexities and assumptions. Ultimately, we felt like an auction is not the way to go. We began with clarifying what Granda Mento would aim to solve. One of the major concerns in this thread is that this could provide an unfair rate for special players…

Quote: "Granda Mento is designed to focus on (1). “, which is: " 1. Those who own significant amounts of USD and wish to mint cUSD”.

This was the most important part of all Granda mento discussions. I didn’t pay as much attention to wording in the CIP since I assumed we all had come to very clear conclusion on Granda Mento purpose and usage.