- Enhance $CELO Token Utility: We need to increase the actual use cases for the token. For instance, consider linking transaction limits or tier-based features to the amount of tokens held in a user’s wallet.
2. Revise Validator Incentives to Balance Decentralization and Inflation: We should encourage more participants to become validators while simultaneously reducing staking rewards to lower token issuance and selling pressure. Simply reducing the number of validators is not the answer—it leads to centralization and contradicts the core spirit of Web3. In the long run, this will cause the project to lose its edge and be phased out. A recent example is Binance’s regulated wallet; users generally avoid products that compromise decentralization.
3. Expand Wallet Binding Options Beyond Phone Numbers: Currently, binding is limited to phone numbers. Is this truly the best approach? I don’t believe so. In many non-democratic countries, citizens face heavy restrictions on Web3 access. As a blockchain project, we must provide a fair and equitable opportunity for everyone on Earth to participate. At the very least, email registration should be added as an alternative.
We need to act fast—the token price is already approaching $0.11!