CGP 136: Lanch cKES

CGPs/cgp-0136.md

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+---
+cgp: 136
+title: Launch of Kenyan Shilling (cKES) Stablecoin
+date-created: 2024-05-13
+author: "@bayological"
+status: DRAFT
+discussions-to: https://forum.celo.org/t/draft-launch-of-a-kenyan-shilling-stablecoin/7964
+governance-proposal-id: 176
+date-executed:
+---
+
+## Overview
+
+This proposal outlines the final steps for the launch of the Kenyan Shilling stablecoin (cKES) on the Mento platform. The introduction of cKES aims to empower Kenya's rapidly growing digital economy by providing a familiar, user-friendly, and accessible stablecoin.
+
+The proposal includes transactions that when approved will do the following:
+
+- Launch and initialize cKES
+- Create and configure the cKES/cUSD pool
+- Configure trading limits and circuit breakers
+
+For a detailed explanation of the transactions involved in this process, please refer to the following forum post: https://forum.celo.org/t/draft-launch-of-a-kenyan-shilling-stablecoin/7964/2
+
+## Proposed Changes
+
+Check the [forum post](https://forum.celo.org/t/draft-launch-of-a-kenyan-shilling-stablecoin/7964/2) for a detailed description of the proposed changes.
+
+## Verification
+
+Check the [forum post](https://forum.celo.org/t/draft-launch-of-a-kenyan-shilling-stablecoin/7964/2) for a detailed description of verification steps.
+
+## Risks
+
+There are couple of risks factors to take into account when launching new stablecoin like cKES :
+
+- Data providers report the price that is different from the actual KES/USD exchange rate.
+
+In conjunction with the Mento team the contract changes have been thoroughly tested, in addition to putting tight limits and circuit breakers during the initial launch phase to protect the Mento Reserve and cKES holders.
+
+## Useful Links
+
+- [CGP Forum Post](https://forum.celo.org/t/draft-launch-of-a-kenyan-shilling-stablecoin/7964/2)
+- [Celo Africa DAO](https://www.celoafricadao.xyz/)

CGPs/cgp-0136/mainnet.json

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+[]