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feat/cgp-147 #474

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45 changes: 45 additions & 0 deletions CGPs/cgp-0147.md
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---
cgp: 147
title: Launch of PUSO Stablecoin
date-created: 2024-08-29
author: "Philip Rätsch <philip.raetsch@mentolabs.xyz>"
status: DRAFT
discussions-to: https://forum.celo.org/t/launch-of-puso-the-philippines-first-community-led-stablecoin/8786/10?u=philbow61
governance-proposal-id:
date-executed:
---

## Overview

This proposal outlines the final steps for the launch of the $PUSO stablecoin, proposed by Celo Philippines DAO, on the Mento platform.

The proposal includes transactions that when executed will do the following:

- Launch and initialize $PUSO
- Create and configure the cUSD/PUSO 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/launch-of-puso-the-philippines-first-community-led-stablecoin/8786/10?u=philbow61)

## Proposed Changes

Check the [forum post](https://forum.celo.org/t/launch-of-puso-the-philippines-first-community-led-stablecoin/8786/10?u=philbow61) for a detailed description of the proposed changes.

## Verification

Check the [forum post](https://forum.celo.org/t/launch-of-puso-the-philippines-first-community-led-stablecoin/8786/10?u=philbow61) for a detailed description of verification steps.

## Risks

There are couple of risks factors to take into account when launching new stablecoin like $PUSO:

- Data providers report the price that is different from the actual PHP/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 $PUSO holders.

## Useful Links

- [Mento Core Contracts](https://github.com/mento-protocol/mento-core)
- [Mento Docs](https://docs.mento.org)
- [CGP Forum Post](https://forum.celo.org/t/launch-of-puso-the-philippines-first-community-led-stablecoin/8786/10?u=philbow61)
- [Celo Philippines DAO Forum Post](https://forum.celo.org/t/launch-of-puso-the-philippines-first-community-led-stablecoin/8786)
195 changes: 195 additions & 0 deletions CGPs/cgp-0147/mainnet.json
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