Celo Governance Call #2

Agenda and Introduction

The governance call begins with a discussion about the agenda for the meeting. The participants acknowledge the presence of Deepa and proceed with the meeting. The host welcomes everyone back and introduces the topics to be discussed. They mention that CGP15 will be skipped in this call due to the absence of Amy, the champion for that proposal. The activation of the Celo Community Fund (CGP17) is the main focus of the meeting.

Introduction of Deepak and Patrick

Deepak introduces himself and his involvement in the Celo ecosystem, particularly in security consulting for blockchain projects. He expresses his desire to contribute to the Celo community and become a steward for the community fund. Patrick follows, mentioning his participation in the Celo project since its early stages and his excitement about the community fund’s potential for decentralizing funding mechanisms.

Proposal Overview

Patrick takes the floor to provide an overview of the proposal. He emphasizes the goal of allocating funds to builders and supporters of the Celo ecosystem. Another objective is to establish a repeatable process for future teams and stewards. Progressive decentralization is discussed, considering concerns about voter apathy and the potential risks of giving stewards complete control over a significant amount of money. The proposal suggests a two-of-three signature scheme to allow spending while providing a mechanism for the community to reclaim funds if necessary.

Budget and Management Fee

The proposed budget amount for CGP17 is approximately 20% of the Celo Community Fund. Additionally, a management fee of 10% is requested to cover the expected hours dedicated to managing the fund. However, participants acknowledge that these figures are subject to adjustments and further discussion. They aim to be flexible and open to learning from the process.

Feedback and Thesis Focus

Participants express the need for a more targeted thesis explaining how the funds will be used, allowing for more meaningful discussions on the distribution amount. The idea of asking for a larger amount with safeguards to avoid frequent requests is proposed. The concept of a consumer growth initiative is also brought up, focusing on increasing adoption of Celo as a payment platform. Suggestions are made to provide clearer guidelines for the proposal and its direction.

Allocation and Distribution Process

The discussion moves to the allocation process and how to request the funds. The preference is to ask for the entire amount upfront and provide updates on the progress and usage in subsequent governance calls. The goal is to strike a balance between avoiding frequent requests and providing enough financial support to capture people’s attention and participation.

Questions and Forum Discussion

Several questions and concerns are raised regarding the distribution process and the amount requested. The importance of avoiding voter apathy while streamlining the voting process is emphasized. Feedback is encouraged to ensure the proposal aligns with the community’s expectations and goals. The discussion is moved to the forum post, where participants can continue the conversation and share their thoughts.

Conclusion and Next Steps

As time runs out, the host suggests continuing the discussion on the forum post related to the proposals. They also mention the need for documentation and communication materials for larger and impactful proposals. The meeting concludes with an agreement to address the remaining questions and continue the governance process in future calls.