The Celo Community has approved the formation of a community DAO in Africa with the stated goal of scaling Web3 to developers and builders at the grassroots.
The proposal, which was made by Khadijah Amusat, went live for community voting on Wednesday 22 February 2023 and passed with over 65,447,195 CELO.
The purpose of the DAO aligns with the Celo mission to create a more equitable, regenerative financial system where value flows back to the under-banked communities around the world who need it the most.
A Decentralized Autonomous Organization (DAO) is a community-based organization governed by its members who collectively come together to make decisions about its operations and direction through a consensus mechanism. DAOs are also designed to be more democratic, allowing members to have a greater say in the organization’s operations and decision-making processes.
According to the proposal, the community is requesting a budget of $428,000 worth of CELO from the community fund to cover activities primarily in 5 countries, but targeted at the entire African continent. The stewards of the Africa DAO are well known active members of the Web3 Ecosystem:
- Chimezie Chuta
- Noah Baalessanvu
- Khadijah Amusat, and
- Aliu Musa
Each of them is a multisig holder to the DAO wallet and will be responsible to execute the proposed plans under each focus area of the DAO.
Full details of the proposal can be read on StakeID.
The DAO has 3 main focus areas:-
1.) Attract Web 3 Talent locally by focusing on local developer incubator programs
The DAO looks to support upcoming Web3 developers to get them to build impactful real-world applications on top of Celo. To ensure success, the DAO aims to conduct accelerator programs to support individuals and projects that are interested in building on Celo.
“Our aim is to hold hackathons quarterly, several hands-on workshops and dev talks to equip developers with the skill set required to ship dAPPs that would end up becoming products that receive funding. We envision successful projects going on to receive funding from the Celo Ecosystem.”
2.) Community Education and University Outreach
The DAO plans to host monthly community meet-ups, university outreach campaigns, and set up university clubs, as it looks to onboard forward-looking campus students into crypto.
“This initiative would help onboard new community members, guide them through the ecosystem, and create interest in the technology and its potential. The vision is to have these young creators exploring the entrepreneurship path or other work opportunities in Web3.
This is part of the strategy to create more awareness of the capabilities of the Celo platform and the innovation from the broader ecosystem with its potential to provide an inclusive and regenerative financial system.
3.) Building Market Awareness and Brand Positioning
The DAO is also looking to participate in events like EthSafari, Devfest, and Cryptofest among many more as sponsors.It also proposes to host Twitter spaces and local AMAs while educating the community on projects in the ecosystem and programs.
The proposal comprehensively entails costs, schedules, and further details involved in the DAO’s programs.
The stewards will now lead the community of contributors through the execution of the different projects under the focus area. They will also be sharing periodic reports to the broader Celo and crypto community at large through the Celo Forum.