Strategic Grant For Accelerating Celo Ecosystem Adoption Across Africa

[opera_minipay]

Overview

This proposal aims to accelerate the adoption of Celo ecosystem dApps through a new, incremental strategic marketing program within Opera Mini, Africa’s most popular browser.

Opera launched MiniPay, a non-custodial stablecoin wallet built into Opera’s popular Android browser Opera Mini, in Nigeria on September 13, 2023 and has since been expanding into Kenya and Ghana as well and is on track to cross 1 million user activations in January 2024, making it one of the fastest growing products in the industry and a key source of growth and adoption of Celo-based offerings. The goal is to bring MiniPay to Opera’s 100M+ users and provide those users a gateway to the Celo ecosystem.

Specifically, Opera is requesting $568,182 per quarter to enable an accelerated expansion of the Celo ecosystem across its African user base, to be used for the following:

• Incremental marketing budget to advertise Celo ecosystem products within the Opera Mini product, e.g. through display ads and push & in-app notifications (in addition to ongoing promotions of the MiniPay product itself)
• Co-marketing opportunities with Celo ecosystem projects
• Dedicated business development point of contact for the Celo ecosystem and regular office hours for builders with Opera product and engineering leads

The grant shall be paid in $CELO, every quarter, with Opera intending to hold, stake and the ability to participate actively in governance. Opera is also exploring joining Google, Deutsche Telekom and others in running validators for the Celo network.

Why Bet On Opera and MiniPay?

Opera has been one of the original members of the Alliance for Prosperity and has been a long-time supporter of the Celo ecosystem. Opera’s user base across Africa exceeds 100M users and Opera Mini is widely known for providing users with a data-saving technology allowing users to save up to 90% of data costs when browsing. With data being an expensive commodity in most markets, Opera Mini is the browser to turn to.

Integrating a Celo-powered wallet into Opera Mini has multiple benefits for users, including

Accessibility

We are providing a solution that underscores accessibility as a core benefit which is particularly important in emerging markets in Africa, where access to essential financial tools remains limited. By seamlessly integrating DeFi services on the Celo network, we offer users a low-cost gateway to the global financial system. Celo innovations such as stablecoins as fee currency, SocialConnect, and FiatConnect augment this integration, amplifying real user value. The scale of this integration will likely lead to these technologies being adopted more widely by other companies as well.

MiniPay aims to lower the barriers to entry into financial services and Web3 by working closely with both regional and global players to ensure a simple, easy-to-understand, and consistent experience with the right payment methods.

Easy of Use of dApps

Unlike with any other crypto wallet, MiniPay users can more easily use dApps that are featured in the MiniPay wallet - no need to find a ‘connect wallet’ button, no need to switch networks.

Speed and Affordability

Celo’s network, renowned for its low fee transactions and high speed coupled with free data and data-saving features of the Opera Mini browser, perfectly aligns with the preferences of Opera users across Africa. With cost-effectiveness and rapidity being the topmost adoption drivers for our target audience, the integration of MiniPay ensures an optimal solution for seamless, fast, and low-cost payment transactions.

Security

Celo’s use of secure, decentralized networks and smart contracts ensures that transactions made on the Celo network are transparent and secure. By integrating a Celo wallet into Opera Mini, we can offer our users a secure and trustworthy platform for accessing DeFi services on Celo.

Payment transparency

MiniPay empowers users with instant notifications of transactions and real-time visibility into their wallet activity history. This ensures that users know where their money is going to and coming from and removes anxiety around whether or not a transaction has been completed.

Product Highlights Since Launching MiniPay

• Tight user experience - more than 70% of users complete onboarding
• 100% success rate for users needing to restore their wallet (unheard of in the industry!)
• Simple and fast on-and off-ramps - time to add/withdraw $1
  • < 1 min with MPESA (Kenya)
  • < 1 min with Airtime (Nigeria)
  • < 2 min with MoMo (Ghana)
• Competitive rates - buy / sell rates that are competitive with leading P2P marketplaces in the region.

MiniPay growth of daily new wallets and transaction activity

How Will The Celo Ecosystem Benefit?

We request the ecosystem funds reflecting a joint effort to drive scale and adoption. We are on track to make the Celo ecosystem successful in the following ways. Launching new dApps to the user base that we are building up. We want to introduce key experiences into the ecosystem through dApps on MiniPay in the next few years and to its growing user base. We need support to amplify this and make it even more successful and useful to our users. We see this as a public good to enable distribution and onboard users to web3.

We’re currently in talks with several Celo ecosystem projects to go live, including

• HaloFi- an app allowing users to reach their savings goals
• GoodDollar- UBI application on Celo
• Blockscratch- app that rewards users probabilistically
• Paychant - ramp for Celo assets in Nigeria
• Nuzo - physical commerce in Kenya
• MoonPay - ramp for Celo assets in Nigeria and Kenya
• Bitmama - ramp for Celo assets in Nigeria
• Fonbnk - ramp for Celo assets to Mobile Money and airtime
• Impact Market Learn and Earn
• CashRamp - ramp for Celo assets in Ghana
• FiatConnect - an open standard for on and off ramps
• PoolTogether - The permissionless protocol for saving and winning.

All of which would benefit directly from the marketing efforts under this grant. This is not an exhaustive list and would have more partners that would activate key financial use cases on Celo and MiniPay. For partners interested in integrating, please fill out this form.

Case Study: Impact Market Learn & Earn

Impact Market’s Learn & Earn dApp has seen a significant increase in active users since MiniPay launched (Note: Impact Market Learn & Earn was the first dApp to be included in MiniPay’s list) even without any active promotion of the product just yet.

Impact Market 30-day active users

We intend to work closely with Celo ecosystem partners to make their services available from Opera Mini and promoted inside the MiniPay Wallet as part of Discover, our newly built curated dApp store. Opera will commit to helping onboard new dApps onto Discover regularly.

Just as MiniPay is defining the stablecoin payment experience, we intend to redefine the user experience typically associated with Web-based dApps and improve on several points:

• Connectivity: Users will not be asked to connect their wallet or to choose between many wallet options. Apps opened within MiniPay will just work.

• Fees: All fees associated with interacting with these apps will be paid using cUSD, so the user doesn’t have to think about holding other currencies to use the product.

• Seamless on- and off-ramping: MiniPay via a variety of local partners provides the ability to users to seamlessly on- and off-ramp to local currency, eg from their mobile money/airtime account, at attractive buy/sell rates, minimal fees, to lower the friction to use web3 dApps built on Celo

• Readability: Actions executed on smart contracts will be presented in a human-readable way in clear and straightforward language.

• Discoverability: Integrations will be showcased inside the curated Discover dApp store section, accessible right from the main view and offer promotional abilities to partners.

• Security: MiniPay leverages automatic Google backup for secret recovery phrases making sure users’ accounts are secured, including assets used on Discovery dApps

• Storytelling: Explaining the value proposition quickly in a way users can understand is often forgotten. We will allow developers to preface their application with a multi-screen story to quickly and visually explain what they are all about.

MiniPay Ecosystem dApp discovery flow

Allocation

Opera is requesting $568,182 per quarter in CELO representing a joint investment to scale the Celo ecosystem across key African markets, to be used for the following:

• Incremental marketing budget to advertise Celo ecosystem products using relevant marketing inventory available on Opera Mini, such as display advertising, bookmark links, push & in-app notifications during onboarding of new users and the lifecycle of existing users as well as other relevant inventory to drive activations and usage for MiniPay (in addition to ongoing promotions of Minipay product itself)
• Marketing campaigns and promotional activations to drive user engagement and drive adoption.
• Dedicated business development point of contact for the Celo ecosystem and regular office hours for builders with Opera product and engineering leads; regular onboarding, engagement and integration of ecosystem partner projects into MiniPay.
• Creation of educational material to support the development of the Celo ecosystem and MiniPay. These resources will be shared through our websites and applications, including our very popular FeedNews content platform, social media channels, and community forums. Strengthening audience awareness of the product.
• Commitment to provide quarterly updates on the progress of MiniPay and its engagement with Celo ecosystem partners. This could include the Signal Celo Community Newsletter or the Celo Foundation Prosper newsletter.

As mentioned before, the grant shall be paid quarterly in $CELO with Opera intending to hold, stake and the ability to participate actively in governance. Opera is also exploring joining Google, Deutsche Telekom and others in running validators for the Celo network. Opera already holds Celo and intends to continue to participate in the governance process.

The receiving address is 0x6f62E32cae54D66e234F0d1e27be7e33896Dc4CE (safe)

Milestone	$ Value of $CELO
Q4 2023	$568,182
Q1 2024	$568,182
Q2 2024	$568,182
Q3 2024	$568,182
Q4 2024	$568,182
Q1 2025	$568,182
Q2 2025	$568,182
Q3 2025	$568,182
Q4 2025	$568,182
Q1 2026	$568,182
TOTAL	$5,681,820

We request a total of 10,410,000 $CELO ($5,681,820 at $0.50 CELO price) be authorized throughout the program (through Q1 2026). At the end of each quarter, Opera will withdraw the equivalent of $568,182 worth of $CELO at the 90-day average price of CELO from at the time of withdrawal. Unused $CELO will be returned to the on-chain treasury, the Celo Community Fund.

Important note: this grant will not be used to fund the development of the core app or other Opera activities - all the proceeds will go towards supporting and growing the ecosystem and user base on Celo.

[williamle]

Hi folks,

Will (CEO of impactMarket) here - just chiming in.

Overall, supportive this proposal and think that anchoring around MiniPay as a distribution channel could be very useful for many of the projects for the Celo ecosystem.

Speaking personally from impactMarket, which was the first dApp included in MiniPay at launch, we’ve seen a lot of success and traction, including 22K active users over the last two months, without any active promotion. I see this increasing substantially as MiniPay grows and as we launch additional campaigns.

I do have some questions / suggestions to improve the proposal. Are the $5.6M in funds earmarked specifically for MiniPay / Opera - or will some of these be available for dApp developers as well for our joint marketing efforts?

Also I’d like to see additional KPIs to answer “what does success look like” from this proposal. I’d propose milestones for this grant be a combination of time and hitting certain KPIs so we can ensure that funds are well spent.

[therealstone]

Hi @opera_minipay

In the spirit of opening the conversation, a few questions I’d love to hear more from the Opera team on. All of us building on Celo are aware of what a big opportunity Opera Mini Pay brings to our ecosystem

1. Opera’s marketing budget for Mini Pay. Is this request of the Community Fund designed to create the total budget to support all of Opera’s marketing activities related to Mini-Pay through Q1 2026? Or is this request designed to supplement additional marketing budget committed by Opera? Can you share more details about the total marketing spend being committed to this product, and how the community fund grant contributes to it? How does this shift as Mini-Pay becomes a revenue generating product for Opera? I am working under the assumptionthat as Mini Pay begins to generate revenue the marketing budget for Mini-Pay granted from Opera corporate marketing will grow, so curious if you can share more about that timeline, split & Opera’s commitment.

2. @williamle raises a great point around how these funds will be used to support and champion the dapps driving usage in Mini Pay, and the overall KPIs being evaluated. All of the dapps currently featured in Mini Pay are small-scale companies that already in many cases are lacking basic Marketing & Comms 101 functions and budgets. Can you please expand on your thoughts around how this budget will be used to support Celo based dapps that were already building on Celo? How do you see Mini-Pays KPIs?

3. I’m curious if this grant proposal takes into account @LuukDAO 's analysis of the on-chain Celo Community fund to date in preparing the request? Please see this post for reference. Celo Community Proposals and Treasury Overview: Apr 2020 - Nov 2023 - #4 by therealstone
   I am asking because as a member of the Celo Community, there has been a very clear and open discussion critiquing the lack of visibility into the on-chain Community fund, its use of funds, and how well it serves the Celo ecosystem. Only now has Luuk created the visibility into the treasury, the runway, and the competing priorities in order to do a better job moving forward. Given the nascent state of that analysis and the limited funds available in the community fund, I am curious to hear from the Opera team a bit more on the size of this proposal relative to past proposals to date, especially given the current 24 month runway of the Community Fund, and this proposal would represent 68% of total available spend. I know many long-time members of the community were waiting on a clear analysis of the community fund before making further proposals of the on-chain fund, so I’m curious if and how this came into play.

Thank you in advance for your openness!

[pcbo]

Gm!

First of all, I’m super bullish on this partnership and I think the overall proposal makes sense!

However, I do not believe in fixing plans up until 2026. I’d suggest a scope reduction to focus on 2024 only and, as Will already mentioned… how would we be evaluating if it worked or not at the end of 2024? So as to do another vote again in 2024 Q4 so as to re-scope (if needed) and extend it in time.

A couple more questions:

Is MiniPay only focused on Africa-based users? It seems your marketing positioning is. But, I’m looking at the MAU of Impact Market and I can see: Netherlands, Norway, US, Japan, France, Sweden, Germany and UK… I’d like to understand a bit better the overall Minipay geo-strategy and how that plays into Opera’s macro strategy?

I’d also like to understand the type of use-cases Minipay can cope with and how many more dApps you can ‘embrace’? For instance, Talent Protocol works at the crossing between Talent x SocialFi and I’m wondering if this is aligned with the utilities you’d like to offer your userbase. I think it’s OK but just want to be sure.

Last but not least, you’re currently support cUSD, are you planning to extend to other stables? And, what about CELO, ETH, Bitcoin, SOL, …?

Thanks in advance and, again, I’m super in favor – we just need to trim the proposal a little bit!

[LuukDAO]

Related to point 3. - the analysis I made does not include a potential MiniPay proposal - assuming this proposal would pass in its current form - it would have the following effect on the Celo Community Fund (if all other assumptions remain stable).

Monthly Burn would increase from $687,001 → $870.395

The runway without Mento would go from 24 → 19 months
The runway after Mento returns would go from 98 → 77 months

My comments on the proposal
Seeing a big project like Minipay / Opera engage with the Celo ecosystem through the forum and community fund is powerful - so big props for that! Also, the progress and impact of Minipay have been significant, and I’m confident Celo should support the expansion of MiniPay.

However, the spending seems too significant for the amount of detail provided, and the timeline seems too long - especially given the current Treasury situation and market conditions.

I think the right proposal should focus on creating a budget for 2024 and would break down the budget into different elements, on which the Celo ecosystem can comment to bring it down (or up) to the right fit. Could we get a breakdown of each of the buckets mentioned in Allocation? It would be good to get a download on relative spending, and potentially make some adjustments there.

Also, it would be good to specify what would happen with the $CELO - how will it be staked, through which means (as a group or by selecting a delegate) will Minipay participate in Governance, and for how long / under which conditions will Minipay hold (or sell).

[Patrick]

Thanks for posting this @opera_minipay.

@opera_minipay

Opera Mini, in Nigeria on September 13, 2023 and has since been expanding into Kenya and Ghana as well and is on track to cross 1 million user activations in January 2024,

Wow! 1 million user activations by January! That’s really exciting. And it also looks like Daily Active Addresses have increased 2.5x since Sept 13 from 62k to over 150k.

Everyone here is in agreement that MiniPay is contributing to real tangible growth and this is important to support with community funds.

What are the primary and secondary metrics you will use to measure success?
Do you plan to deploy any of the CELO into ecosystem projects?

[jmains]

Overall Celo working with Opera is a great strategy for expanded the Celo ecosystem faster. No doubt there.

However, the budget is very large and multi-year for the scope defined. I agree with others focusing on 2024 and what Success would mean to Celo, it’s ecosystem, and Opera that is tied to defined and specific milestones would seem prudent.

Not sure if this is too controversial but has Celo spoke to other browsers firms or MNOs since Celo is providing the funding. I know a few MNOs looking at wallet models and GOD knows they have a large user base and know what it means to miss out on disruptive tech (ie msg’g, app store, social, ads, etc).

That said, the bird-in-hand with Opera and getting something underway with them seems the right priority now but I think Celo has more negotiation leverage to get bigger bag for the buck unless I missed that Opera is also contributed funding (i.e., matching or partial matching). If so please opine with details.

Other comments
Agree @williamle and others that brought up a good Q about funds available for dApp developers. That would be good to include since Opera will be benefiting from Minipay and Browser usage. In their last financials they seem to be focused on Western markets the provide high ARPU so I think Celo also help there … especially with it’s MNO relationships (and our EcoBytes model

To quantify Opera benefit, Is there any current metric that shows increased time in browser for customers that adopted Minipay?

Also can Celo get a firmer commitment on Opera becoming an validator vs exploring?

[AndreVR]

Hello Community,

I would like to share a perspective on the powerful potential of Minipay/Opera engaging with the Celo ecosytem. As CEO and founder of Plastiks built on CELO, we work exentensively in Kenya as well as other African countries in the field of plastic waste recovery tracking. The Plastiks platform tokenizes and creates NFTs out of the invoices generated by the Recovery Projects who collect the plastic waste and sell them to Recyclers to be reused as a prime resource. These NFTs aim to confirm that certain quantities and types of plastics have been recovered from the environment and generate new sources of income for those that do the recovery work. These plastic recovery NFTs are called Plastic Credits. Onramping and offramping is a challenge that we are working on. Accessing a solution that underscores accessibility as a core benefit which is particularly important in Africa, where access to essential financial tools remains limited is a key driver to the growth of the waste recovery industry on the African Continent.

[nraghuveera]

Very excited to see Opera’s ongoing work in the Celo ecosystem. I also echo some of the other comments here. Given the large dollar amount it would be helpful to better understand more detailed KPIs and a deeper budget breakdown for all of this. I might even suggest a proper operating budget given the size of this proposal

[opera_minipay]

Hi all,

First we’d like to thank you for all the initial interest and feedback on our proposal. This process is very much new to us and is part of our process to go from being a Web2 company to a Web3 company. We hear you, please bear with us as we go through this process!

We think this proposal represents a unique opportunity for the Celo ecosystem to reach its full potential and make an impact on millions of users on the African continent and beyond. Opera is already making a big bet by building on Celo because we believe it is the right platform to deliver the experience we want to our users with MiniPay.

This is a chance for the ecosystem to leverage this commitment and use Opera’s assets and inventory to promote and drive adoption of other apps & services built on Celo.

Members of our team will be joining the Governance Call on the 8th of December and will be happy to go into more details, so please join!

[opera_minipay]

@williamle

Thanks for your feedback! It’s been great to have Impact Market as a launch partner for MiniPay and see dApp activity grow organically without active promotion!

The demonstrated user interest in dApps offering real-world use cases in these markets gives us a glimpse into the potential growth once this is rolled out to more countries with active promotion.

To answer your question specifically, the funds from this proposal will be used to promote ecosystem partners, both inside and outside MiniPay using Opera’s owned inventory.

@pcbo
Opera has chosen to build MiniPay on Celo as it is central to our web3 strategy. We think a 3-year roadmap is what is needed to properly build, scale, and promote MiniPay and Celo ecosystem dApps within the product to best fulfill that potential.

We are just getting started with MiniPay with a strong focus on Africa, as this is where Opera has a huge distribution advantage and where we also see the biggest need for such a product.

We are building on some of the best features of Celo (1-block finality, SocialConnect, FiatConnect, Fee Abstraction…) and more to address existing barriers to access this new financial infrastructure.

Key advantages of MiniPay, including being ultralightweight at just 2MB, running smoothly on old and lower-power phones, optimizing data usage, and offering a fast, affordable, and competitive way to access and transact with a USD stablecoin are more relevant in emerging markets than in our homebase of Norway

Note that the Opera Mini traffic you are seeing from the Netherlands is most likely from our Data Compression servers in the country which many of our African users use to browse more for less!

[Thylacine]

While I don’t doubt the strategic alignment with Celo’s goals (a focus on Africa is savvy for any future-focused company), nor the account activity generated of late, as others have mentioned this is a huge and ongoing request and requires a lot of evaluation from the community.

My questions here might read like “techbro shakes fist against corporate capture”, but actually I think we should welcome large players that can really move the needle on this ecosystem. This is what adoption looks like! Long-term reality is that mature, well-funded organizations are what’s going to move blockchain as a whole out of niche and into the mainstream.

Strawman / high level - what happens if this request is not approved by the community? The product is already built, there was clearly an existing agreement to launch with Celo as the blockchain partner for the wallet. Are Opera going to just drop all marketing efforts for your product without a half million quarterly retainer? What does your existing budget for marketing look like and what percentage of that spend would this grant make up? Are the growth activities mentioned in the request only unlocked with this being approved?

Who is the beneficial owner of the proposed funds? Is it Opera the company itself? Is MiniPay a separate company and would be running with this program separately? Is there a person or persons who will be responsible for the control of the funds? How will the target account be managed? Is it a multi-sig and who are the principals of the account? Who will be doing the work activities mentioned in the proposal? Will the work be absorbed by existing staff or is there a new department being created for this MiniPay/Celo growth unit? Are there any existing commercial partnerships with cLabs, the Celo Foundation or other Celo-related entities or DAOs that should be disclosed along with this request?

The proposal mentions:

Opera intending to hold, stake and the ability to participate actively in governance

and

Opera is also exploring joining Google, Deutsche Telekom and others in running validators

If the intention is to hold and stake, this implies (my reading) at least in part the CELO will not be used for expenses for the program but instead to build a treasury and meaningful voting position for Opera. Could you expand please on what this means? Obviously no problem Opera having a stake in the direction of the protocol - if MiniPay takes off this makes a lot of sense. If there’s an intention to fund a new validator group out of the grant maybe this could be conducted independently with your existing CELO. Or even better, fund a university computer science department in Lagos (for example) to run the infrastructure as co-branded outreach activity.

Would you be willing to reduce the length of this grant to 1 year (4 quarterly payments) starting in Q1 2024? Two years in blockchain is like two decades and especially given so much in flux with cLabs evaluating a move to an L2, it feels difficult for the community to greenlight so far into the future.

The uptick in activity thanks to MiniPay is clear, and I think it can be an important and pivotal piece of Celo’s global outreach, but would like to hear a little more about grant governance and the wider picture here.

[mschorn]

Hey Celo Community,

I really like the CELO & Opera Mini Partnership. It’s surely a great match and I support the intention of the proposal.

Also that Opera does not intend to spend the CELO but to stake them is a nice innovation. It keeps artificial selling pressure away from CELO that such a large sum would generate.

However, it is still a large sum and the release of each tranche should be tied to clear KPIs i.e. Goal: increase of Daily Active Users for the next quarter by x00k. Based on the achievement of the quarter the next tranche could be adjusted accordingly. i.e. 80% target achievement = 80% release of next tranche.

Also I would look to use the ad space on Opera strategically to broaden the ecosystem. i.e. offer merchants the ad space if they adopt minipay.

Cheers,
Markus

[opera_minipay]

Thanks for everyone’s constructive feedback and enthusiasm for the proposal! We hear you and will be continuing to respond during next week as well as in the planned Governance Call on Dec 8th.

@therealstone

Thanks for your feedback and good collaboration so far on bringing GoodDollar to MiniPay users!

Yes, this is a 3-year plan and the amount will be used to promote Celo ecosystem projects on MiniPay and will supplement what Opera is already investing in the product. Opera is committed to growing MiniPay and we plan to use the additional funding to explore larger scale growth initiatives and become an even more active participant in the Celo ecosystem through staking and governance.

We believe that the simplicity & focus of MiniPay combined with the distribution power of Opera are the necessary ingredients to unlock Celo’s full potential.

We see our role in this as drivers of adoption for ecosystem partners, bringing real utility to millions of users across Africa and beyond, and we are off to a great start already. We understand that the maturity level will vary from partner to partner and we are taking an active role by offering our product expertise and marketing knowledge to elevate those offerings which we will help promote.

@Patrick

Thank you for acknowledging the progress we’ve made so far! At the core of our mission is the goal to onboard a vast number of users into MiniPay and by extension to Celo ecosystem dApps. A vision that is deeply embedded in both the development of the MiniPay product and our marketing strategy.

We hope to shed more light on growth ambitions on the upcoming governance call.

[alchemydc]

@opera_minipay

As mentioned before, the grant shall be paid quarterly in $CELO with Opera intending to hold, stake and the ability to participate actively in governance. Opera is also exploring joining Google, Deutsche Telekom and others in running validators for the Celo network. Opera already holds Celo and intends to continue to participate in the governance process.

The receiving address is 0x1a4b4B3329dd7Ff75A4e8dc184Bff1392bF51319

Hello Opera, and congrats on all the progress bringing MiniPay to the world on the Celo blockchain!

I see that @Thylacine and @Patrick and several others have raised several important questions regarding the use of proceeds, overall marketing plan, etc. and I echo those sentiments.

However, I’m going to put on my CISO hat for a moment and point out the fact that you’ve proposed sending a large amount of funding to a single address which is an EOA, or externally owned address. While this address may be controlled by a hardware wallet, I believe that for a funding request of this magnitude, it would make much more sense for the recipient address to be a multisig, such as one deployed on Safe.

I look forward to seeing this initiative progress.

Regards,

DC

[0xGoldo]

Yes you are right, every Govenrance proposal that is requesting funds should come from a Multisig no matter the amount requested.

[0xj4an-work]

Fully agree with you regarding the necessity of the multisign and also a multisign with at least a threshold of 3/5 (is a big proposal, higher threshold personally means more security for me)

[opera_minipay]

Regarding the question on the wallet used in the proposal:
We use a qualified custodian. As a public company, we are subject to strict compliance & corporate governance rules and regulations. This is effectively a compliant multisig wallet.

[LuukDAO]

Hey @opera_minipay team - following the Governance Call, I noticed you already mentioned the 90-day average price of CELO at the time of the withdrawal, which makes perfect sense. Sorry for not double-checking this earlier!

After today’s call, I feel more confident that MiniPay should receive a Strategic Grant.

I believe that if we can formalize the reduced duration of the initial proposal to the 1.5 years suggested in the call and get a bit more insight on the spending side, this proposal should be good to go up for a vote.

[opera_minipay]

Hi @LuukDAO ,

Thanks for the feedback, we appreciate your support!

Great call yesterday. Yes, we will revise the proposal reflecting the reduced ask.

Regarding the spend, we can confirm our committed marketing value (eg fixed/recurring inventory allocation, marketing campaigns, offline activities, etc) significantly exceeds our ask - such commitment delivery already started off in Sep which of course has greatly contributed to the current results to date with +600k wallet activations.

Hope this makes sense!