Welcome to the Celo Governance Call! This is the eighth call in the series, and we have some special proposals to discuss today. In this tutorial, we will cover the main topics discussed in the call, including the addition of voluntary carbon credits to the reserve and the activation of the Grandmento feature. We’ll also touch upon the release of Core Contracts version 4.
The first proposal discussed is CGP 30, which aims to add voluntary carbon credits to the reserve. This proposal aligns with Celo’s mission to create an inclusive monetary system while preserving Earth’s natural resources. The idea is inspired by Charles Eisenstein’s book, “Sacred Economics,” which suggests that adding nature-backed assets to the reserve helps preserve the environment. To find suitable nature-backed assets, the reserve issued a request for proposals, and currently, Project Moss is the only submission. The proposed token, CMC02, represents ownership of a pool of carbon credits from various projects. The reserve would purchase these tokens, which are currently traded on the Celo blockchain’s decentralized exchange (DEX).
The next topic discussed is the activation of Grandmento, a solution for facilitating large exchanges between Celo and stable tokens on the order of millions. This feature is particularly useful for organizations or individuals looking to exchange significant amounts of funds. The proposal suggests setting the initial parameters for Grandmento, including a two-week period for governance to react and vote on the proposed exchange, a proposed spread of zero as a fee for the exchange, and stable token exchange limits to ensure safe and efficient transactions. The proposal also mentions the possibility of creating a multi-signature (multisig) group to oversee the process.
The third topic covered is the release of Core Contracts version 4. This release includes several updates and bug fixes. One notable addition is the identity proxy, which enables account recovery flows for users who have lost access to their mnemonic phrase. The update also addresses some confusing error messages in certain contracts.
During the governance call, the proposals were discussed in detail, and participants had the opportunity to ask questions and provide feedback. The discussion highlighted the importance of integrating nature-backed assets into the reserve and the potential benefits of the Grandmento feature for large exchanges. To learn more and participate in the discussion, community members were encouraged to visit the Celo forum. Additionally, plans were made to create a forum post summarizing the Core Contracts release and include the audit report for transparency.