Celo, the emerging L2 behind a movement to scale Ethereum with real-world solutions and build a thriving new digital economy, is the blockchain built for real-world use cases.

Launching before EVMs were a thing, Celo started the mobile-first approach to onboarding the world’s users to crypto with their mainnet launch on Earth Day 2020. In the process, the Celo ecosystem has grown to over 1,000 projects in more than 150 countries, bringing tech that serves a greater purpose to the Ethereum community and beyond.

In their next chapter, they’re upgrading to #CEL2 to amplify their incredible ecosystem and return home to Ethereum.

The Challenge:

The Celo Foundation is a large organization with a complex mix of contributors and a need to distribute token vesting plans to them.

Traditional approaches to vesting created barriers:

1. Spreadsheet management and manual distributions: This approach is widely by onchain orgs, but places a large burden on teams for management and distribution.

2. Custom Vesting Smart contracts: Creating custom contracts is not the primary job of any onchain org. Building custom contracts is cumbersome and risk-prone. Using off-the-shelf contracts can offset the distribution, but displaces that burden to the recipients of vesting plans that are unable to easily track and claim tokens.

3. Participation in governance: While vesting tokens are often allocated to an organization’s most dedicated contributors, these tokens are not able to participate in governance. Having flexibility in how and when these tokens can participate in DAO governance is important.

Additionally, the pre-existing terms of token vesting plans meant that an onchain solution would only be sufficient if it could meet the existing criteria for how and when tokens met vesting criteria.

The Solution

Hedgey’s Token Vesting solution offered a simple, secure solution for the Celo Foundation that allowed them to match the requirements of their vesting plan terms while streamlining the distribution of vesting plans and creating a great experience for token vesting recipients to track and claim their vesting tokens.

Directly from their Safe, the Celo Foundation was able to create vesting plans for their entire organization for pennies in gas using Hedgey. Once the plans were distributed, the team instantly gained access to a custom dashboard to track and manage issued plans with ease. On the other side, recipients gained instant access to their own dashboards where they are able to track their vesting plan and claim vested tokens.

All of this was done on Hedgey’s free, public goods platform.

Benefits of using Hedgey:

• Feature-complete tools to create the exact vesting plans you need.

• Mass distribute vesting plans to 50+ recipients in a single transaction.

• Instant access to feature-complete dashboards for issuers and recipients

• Dedicated Safe app.

• Audited by Consensys Diligence.

• Full dashboard for finance teams to issue, track, and manage vesting plans.

• Full dashboard for recipients to track and claim vested tokens.

• Full dashboard for recipients to track and claim vested tokens.