The transcript covers the fourth governance call for Celo, introducing the agenda for the meeting and highlighting ongoing governor’s proposals.
The first item on the agenda is CIP 33, which proposes adding a second stable asset to the Celo protocol. The proposal is in the final draft stage and is ready to move to the last call. During the last call, there will be a review period of one and a half to two weeks, allowing participants to provide feedback. If there are no critical issues, the specification will move to the accepted state.
The discussion on Cellular Euro, which was covered in previous calls, continues. The speaker seeks confirmation from the participants to move the specification to the last call. After confirming consensus, the speaker sets the review period to start on Thursday the 18th.
The next item on the agenda is Contract Release 3, which focuses on the launch of Celo Euro. The speaker invites a suitable person to provide an overview of the release notes and highlights the major themes, including the addition of Celo Euro and a small change to the governance contract to fix an issue.
The discussion moves to the initial allocation proposal for Celo Euro. It is noted that the initial allocation decision is coupled with the deployment of Release 3. The initial allocation is non-adjustable later, while other parameters can be changed through a follow-up governance proposal that activates Celo Euro. There is a debate regarding the allocation amount and the need to use the pre-minted funds effectively.
The participants discuss CIP 15 and CGB 21, which involve changes to the Random.sol contract. The discussion focuses on the Celo Stability Mechanism and how it works to bridge the gap between supply and demand. The proposal suggests using funds from the community fund to further support projects in the Celo ecosystem. There is a debate regarding the collateralization ratio and the need for tight control over minting.
Participants raise concerns about the complexity of tracking multiple stable currencies and the need for clear rules on minting. The discussion touches upon leveraging the pre-minted funds for stimulating network effects and the potential use of Celo Euro in specific regions. There are suggestions to involve community members in the grant distribution process and consider risk tolerance when selecting stewards.
The governance call concludes with appreciation for the participants’ engagement and positive feedback on the call’s progress. The meeting ends slightly over time, and the recording is stopped.