This proposal requests Season 3 funding from the unreleased CELO treasury (July–December 2026) for Stabila to continue coordinating DeFi incentives and liquidity strategy across Celo. The mandate continues to evolve from broad ecosystem bootstrapping toward focused, strategic capital deployment — prioritizing market depth, capital efficiency, and sustainable economic activity.
Season 3 also aligns Stabila's work with the ecosystem's north star metric of monthly chain revenue. DeFi represents a meaningful opportunity to contribute to chain fees: every swap, lending action, and FX conversion is a fee-paying transaction. Stabila's role is to create the conditions that attract DeFi users and volume organically: deep liquidity, functioning venues, and well-integrated assets.
This request complements the Celo Core Co. Season 3 proposal: Celo Core Co drives partnerships, onboarding, and distribution; Stabila builds the market structure those integrations rely on.
Over the past several seasons, Stabila has deployed targeted liquidity incentives and coordinated with protocol teams and risk curators to build out core components of Celo's DeFi stack: DEX liquidity, lending markets, liquid staking infrastructure, and stablecoin market depth.
Season 2's outcomes are detailed in Stabila's Season 2 retrospective. Highlights include the launch of Morpho on Celo with curated lending markets, the launch of UpDown's leveraged FX trading built on Celo's stable assets, and Celo becoming the leading network for tokenized gold, with XAUt0 integrated as DeFi collateral. Throughout a challenging period for DeFi markets broadly, incentive programs were continually evaluated and adjusted based on performance and liquidity retention.
Season 3 reflects a broader shift in how the ecosystem measures progress. Deep liquidity remains the foundation (fee-generating activity doesn't happen in shallow markets), but the measure of success is what that liquidity enables: organic usage and fees, rather than headline TVL alone, which is sensitive to token prices and can sit idle. The season builds on the infrastructure now in place, with flexibility to back opportunities as they emerge.
The focus of Season 3 is to deepen the liquidity and strengthen the market infrastructure that enable organic, fee-generating DeFi activity on Celo in direct support of the ecosystem's Season 3 north star.
Deepen and sustain the trading venues where onchain activity generates fees: spot, FX, and leveraged markets with emphasis on stablecoins and local-currency pairs at the core of Celo's payments use cases.
Focus areas include:
Expand Celo's lending and credit markets and the collateral base behind them, improving capital efficiency and access to onchain credit.
Focus areas include:
Ensure new assets and partners entering the ecosystem — including those onboarded through Celo Core Co.'s partnership work — launch into liquid, functioning markets.
Focus areas include:
Support the operational work required to execute Stabila's mandate.
Focus areas include:
Across all categories, incentive allocation is pooled and performance-based, with flexibility to rebalance toward what works and wind down programs that do not demonstrate durable usage.
See the budget table in the forum post.
Stabila is requesting $360,000 in funding for Season 3, denominated in CELO. The final CELO-denominated amount will be calculated using the 90-day trailing average CELO price at the time of proposal submission.
This request represents a reduction of more than 62% from Stabila's Season 2 funding request in USD terms — reflecting a leaner mandate focused on the most effective components of Celo's DeFi stack. Stewarding community funds responsibly means concentrating capital where it demonstrably works, and this budget reflects that commitment.
Upon approval, funds will be withdrawn and sent to the Stabila multisig wallet.
Unused funds may be returned to the Community Fund or rolled forward, subject to community input and governance approval.
This proposal covers Season 3 (July–December 2026).
As with previous seasons, Stabila intends to publish a retrospective outlining capital deployment, ecosystem outcomes, key learnings, and progress against stated objectives.
Funds will be withdrawn to the Stabila multisig upon governance approval from the unreleased CELO treasury.
Stabila Multi-Sig: 0x9C257bDC314dc516e673728D70F45444F6e22412
Current Signers:
The proposal releases 4,838,709.68 CELO from the CeloUnreleasedTreasury to the Governance contract (the Community Fund) and increases the Stabila multisig's CELO allowance by the same amount, allowing the multisig to withdraw the funds via transferFrom.
CeloUnreleasedTreasury.release is callable only by the contract registered as EpochManager in the Registry, so — following the precedent of cgp-0207, cgp-0232, and cgp-0238 — the Registry entry is temporarily pointed at Governance for the duration of the release and restored immediately afterwards.
increaseAllowance is used instead of approve so that any CELO the Stabila multisig has not yet withdrawn under its existing (Season 2) allowance is preserved rather than overwritten.
Temporarily set Governance as EpochManager in the Registry
setAddressFor(string, address)"EpochManager", 0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972 (Governance)Release 4,838,709.68 CELO from the unreleased treasury to Governance
release(address, uint256)Restore EpochManager in the Registry to the original address
setAddressFor(string, address)"EpochManager", 0xF424B5e85B290b66aC20f8A9EAB75E25a526725E (EpochManager)Increase the Stabila multisig CELO allowance by 4,838,709.68 CELO
increaseAllowance(address, uint256)[
{
"contract": "Registry",
"address": "0x000000000000000000000000000000000000ce10",
"function": "setAddressFor",
"args": ["EpochManager", "0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972"],
"value": "0",
"description": "Temporarily set Governance as EpochManager in Registry"
},
{
"contract": "CeloUnreleasedTreasury",
"address": "0x7A8c7a833565fc428cdFBa20FE03fAfb178A434f",
"function": "release",
"args": [
"0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972",
"4838709680000000000000000"
],
"value": "0",
"description": "Release 4,838,709.68 CELO from the unreleased treasury to Governance (Community Fund)"
},
{
"contract": "Registry",
"address": "0x000000000000000000000000000000000000ce10",
"function": "setAddressFor",
"args": ["EpochManager", "0xF424B5e85B290b66aC20f8A9EAB75E25a526725E"],
"value": "0",
"description": "Restore EpochManager in Registry to original address"
},
{
"contract": "GoldToken",
"address": "0x471EcE3750Da237f93B8E339c536989b8978a438",
"function": "increaseAllowance",
"args": [
"0x9C257bDC314dc516e673728D70F45444F6e22412",
"4838709680000000000000000"
],
"value": "0",
"description": "Increase the Stabila multisig CELO allowance by 4,838,709.68"
}
]
Once the proposal is submitted on-chain, a human readable version can be inspected with:
$ celocli governance:show --proposalID <ID> --node https://forno.celo.org
Voters can verify that:
EpochManager entry — transaction 3 restores it to the current on-chain value (0xF424B5e85B290b66aC20f8A9EAB75E25a526725E, verifiable via celocli network:contracts or Registry.getAddressForString("EpochManager")).release on the CeloUnreleasedTreasury proxy (0x7A8c7a833565fc428cdFBa20FE03fAfb178A434f, verifiable via Registry.getAddressForString("CeloUnreleasedTreasury")) with the Governance contract (0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972) as recipient — funds move from the unreleased treasury into the Community Fund, not to any external party.increaseAllowance on the CELO token (0x471EcE3750Da237f93B8E339c536989b8978a438) for the Stabila multisig (0x9C257bDC314dc516e673728D70F45444F6e22412) — the same multisig that received the Season 2 allowance in cgp-0222.This proposal does not deploy or upgrade contracts and does not permanently change network parameters, so it represents minimal risk to the network.
EpochManager Registry entry is modified and restored within the same atomic proposal execution; no intermediate state is observable by other transactions.increaseAllowance (rather than approve) preserves any remaining Season 2 allowance.