This proposal is a proxy governance proposal that mirrors Mento Governance Proposal 15 (MGP-15). As part of the ongoing coordination between the Celo community and the Mento community, Celo token holders have the opportunity to vote in Mento Governance with the Celo Community fund Mento Allocation.
MGP-15 proposes an allocation of up to $3.75M from the Mento Protocol Reserve over-collateralization to the Mento Protocol Foundation. The funds will support future expenses tied to orchestrating a successful token launch in Q2, ongoing development and operational costs tied to the upcoming Mento V3 deployment on Celo, Monad, and beyond, as well as external liabilities and Foundation operational costs.
The Mento ecosystem is at a pivotal point, gearing up for its largest release to date: Mento V3, which transitions the protocol to an on-chain FX powerhouse. This release also marks Mento's first cross-chain expansion to the Monad ecosystem. To support these efforts, the Mento Protocol Foundation requires dedicated funding from the Reserve's overcollateralization.
Key motivations include:
Please see the discussion forum post for more details on the proposal.