Thanks everyone for joining the call last week and for all of your feedback along the way. We expect to be in a position to do the onchain proposal this week with the updated terms below:
"We seek community buy-in for a total budget of 10,410,000 $CELO ($5,681,820 at $0.50 CELO price) for the 3-year term (through Q1 2026) but are only seeking authorization for half the amount (5,205,000 $CELO) initially. Opera has the intention to come back and request authorization for the remaining budget after one year.
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. "
I already see the positives that Minipay brings to the ecosystem. Thanks for this. But this very large amount requested (I think this is one of the largest proposal requests in history among all networks) cannot justify the huge liability economically placed on Celo in cost benefit analysis. If you make a significant correction in the amounts and submit it to a vote again, I may consider supporting it, but I stand against this proposal in its current form.
What’s the point of bringing these proposals to the “community” when a couple whales(most likely Celo team members) will approve it anyways?
Stop insulting our intelligence as if the “community” really has any input in decisions and the direction of Celo.
The proposal had two wallets make up over 50% of the votes — in what world is this governance structure decentralized?
I’m against and what looks like most of the community(not the few whales) with such a huge amount of tokens being issued to Opera; as it will likely create too much sell pressure. But we don’t hold millions of CELO so who cares I guess.
