I was thinking something simpler @Tobi . Basically what I’m saying is that when grantees apply, they specify a max total of CELO they will receive, but also a max total on an “as converted to cUSD at the time of withdrawal”. Harshly put, it would keep the upside of CELO price appreciation to the community fund, while the grantee keeps the downside of the depreciation.
I think good arguments can be made that this is wise for Celo community but also unfair on grantees.
To be clear, I’m not suggesting that we should have any rules here. I think it’s up to individual proposals to suggest how they wish funding to work. I’m just saying that - as a community - we should consider that if a grant applies for a large amount of CELO, it means the community is distributing the upside (and the downside) of that CELO (which may be fine in certain cases).