Hi folks, really nice proposal!
I don’t have the energy to dive deep into this, but I think it’s a great use of community funds for what to me is the core part of Celo’s mission and long-term stability: natural backed assets.
I have to unveil a bummer though: There probably are no free 7 million CELO in the on-chain community fund!
Here is a list of already allocated funds, which amount to ~4 million CELO. The way allocations work is a MultiSig being approved to spend a certain amount of CELO, they remain in the governance contract though until they are actually transferred by an approved MultiSig. So it’s a bit opaque to see how much CELO is actually available.
I’m not sure how much exactly has been withdrawn and used already, but my feeling is something around 1 million. So there would probably be something like 9.7 million - 4 million + 1 million ~ 6.7 million unallocated.
This might not be a big deal as the community fund keeps growing at ~5.5 million CELO per year and I think technically it’s possible to approve MultiSigs for more CELO than what is actually at the address (altough this shouldn’t be like that imo). But I don’t think we should start to allocate future community funds that are not even rewarded yet.
I would feel more comfortable if you guys would ask for a lower amount in order to leave some funds or other community initiatives.
Tobi