I’m addressing this to clarify the record.
The transaction you highlight labeled “BioFi Regen Coordination Ops” is what it says it is — operational funding that supported a series of Gitcoin / Allo-based regenerative funding rounds and related coordination work that ReFi DAO and Regen Coordination helped design, operate, support, and fundraise for. Those activities were publicly described in CeloPG reporting, including the CeloPG H2 2024 Progress Report.
Further public documentation of this work exists across multiple forums:
Across these rounds, relatively modest CeloPG contributions were used to unlock significantly larger pools of capital from partners including Gitcoin, Ma Earth, BioFi, and others. For example, BioFi Pathfinders received 25k cUSD from CeloPG and raised an additional ~$43k. More broadly, further Regen Coordination–supported programs mobilised over $236k in funding with only ~$80k from CeloPG (~2.95x multiple). These rounds funded real projects and communities building on Celo, onboarded new users, and piloted new capital allocation mechanisms such as quadratic funding, cluster matching, AI-assisted impact evaluation (ImpactQF), and retroactive public goods funding. They also included clearly defined operational budgets (typically ~5–10%) to support coordination, delivery, and ecosystem development.
The suggestion that this involved an “intermediary insider-linked structure” is a mischaracterisation. In practice, this was the operational flow across collaborating teams and multisigs. There was no attempt to obscure or extract value, the funds were used for the purposes described. As mentioned here, I also believe that this operational work was delivered at a rate that I believe is below market relative to the scope and outcomes achieved.
From my side, I’m highly confident in the integrity of this work and the value it delivered to the Celo ecosystem. I support transparency and accountability, and I’ve provided context here to clarify the record. At this point, I consider this matter addressed and would like to be focusing my time on continuing to build and contribute.