Introduction
The Celo All-Core Dev Call #4 took place to discuss two proposals: CIP 33 and CIP 32. The call aimed to provide a technical review of the ongoing work and allow the proposal authors to present their ideas. The meeting started with a brief mention that the previous call was focused on Donut VIPs, while this call would delve into technical details.
Proposal 1: CIP 33 - Adding Celo Euro
The first proposal, CIP 33, suggested adding Celo Euro as a stable asset on Celo. This pioneering project required deploying Celo Euro as the first asset, extending the stability mechanism, and incorporating oracles to enable the stability mechanism. The proposal aimed to create a standardized approach for adding stable assets, with Celo Euro serving as the foundation for future additions. The proposal author discussed the necessary changes and the rationale behind choosing an independent module for Celo Euro.
Proposal 2: CIP 32 - Node Incentives for Attestation Service
The second proposal, CIP 32, focused on node incentives for the attestation service. The aim was to introduce stronger incentives for online attestation services to ensure their availability and reliability. The proposal outlined a framework for incentivizing attestation services and discussed parameters such as the attestation completion rate and minimum attestation requirements. The presenter emphasized the need to protect users from unavailable attestation services and the potential to increase rewards as positive incentives.
Comparison and Analysis
The presenters provided a comparison between the independent module and multi-module approaches for Celo Euro. The independent module was deemed more favorable due to its familiarity and easier solvability. They discussed metrics such as total investment requirements and presented plots demonstrating the behavior of each approach. Gas usage and capital outflows from the reserve were mentioned as factors to consider. The analysis highlighted the importance of maintaining control, the trade-offs between approaches, and the long-term trading implications.
Q&A Session
During the Q&A session, various questions were raised. Discussions revolved around standardizing the proposals, the impact on reserve capital, and the reliability of attestation services. The potential to adjust rewards based on performance and the challenges faced by validators running attestation nodes were also addressed. The proposal authors provided insights and clarified the motivations behind their proposals, emphasizing user protection and incentivizing service availability.
Conclusion
The Celo All-Core Dev Call #4 covered two proposals: CIP 33 for adding Celo Euro and CIP 32 for node incentives in the attestation service. The technical deep dive into each proposal provided valuable insights and allowed for discussions on standardization, trade-offs, and potential improvements. The presenters shared their analyses and answered questions from participants, promoting a collaborative environment for further development on Celo.