Thanks for this post, I see three steps for a simple approach.
1. Baseline
Let’s me for now call these “Type 1” or “Approved Reserve Assets”.
As a baseline, Celo protocol should only be handling assets that are specifically approved by governance to be part of the Reserve (Celo, BTC, ETH, DAI).
2. Gifts to Approved Reserve Asset Addresses that are not Reserve Assets themselves
Let’s call these “Type 2” assets.
Examples here would be UBE sent to the reserve’s Celo address, or BCH sent to the reserve’s BTC address.
- I think all of these should be liquidated (within some reasonable time frame) and swapped for the Approved Reserve Asset (Rebalancing would then occur among Approved Reserve Assets as per governance protocol).
- I don’t think we should have random amounts of Celo alts (or Ethereum alts for that matter) as part of the reserve. This makes the reserve strategy messy and will be hard to systematize. If there is a specific desire for the protocol to support “friendly tokens” I think this should be handled in a separate CGP (I don’t think this is a good idea).
3. Gifts to non-Approved Reserve Asset Addresses
Let’s call these “Type 3” assets.
An example here would be a gift of ADA (Cardano) [unless it is wrapped ADA for the Celo blockchain] to the Celo Reserve.
I think these gifts should be ignored. In any case, I don’t see how these gifts would arise because Celo reserve would not own/control any non-Approved Reserve Asset Addresses (e.g. a Cardano address) - unless I’m missing something.