The CELOccelerate Tokenomics Proposal has passed community governance, with 97%+ in favor! 🎉

The Celo ecosystem has spoken, and the network's economic model is leveling up with CELO buybacks, base fee increases & more

The execution of CELOccelerate unlocks:

→ Net sequencer revenue flows to the Community Fund; the community can propose to burn it

→ Base fee increasing at a steady, pragmatic rate

→ Carbon Offset Fund pausing, w/ an existing 25x surplus

The gradual base fee increase over the coming weeks ensures growing network usage benefits CELO stakeholders, while maintaining sub-cent transaction costs.