Cross linking to a relevant discussion.
The stuff in the high liquidity asset class would make nice candidates.
One thing to think about though is that the choice of reserve assets is and should be nearly pure economic decisions. If an asset meets the economic criteria great, if not there should be no shoehorning.
What I’m getting at here is that the reserve money can’t be considered as idle capital that can be allocated for mixed priorities.
The other thought here is that if Celo were to use fiat as the reserve currency, the reserve size required drops a bunch. Most of the ‘money’ current held as over-collateralization could be reallocated.