Proposal: Increase trading liquidity on CEL-BNT pool to 1M BNT

The current trading liquidity is set at 250,000 BNT. This proposal is asking to 4× that.

In general, I am a big supporter of growing our pools. The recent wNXM proposal, for example, is very attractive.

Where possible, we should try to think in logarithmic terms. Although the wNXM proposal is asking for 1M additional BNT, and this one is only asking for an additional 750k, the relative change on the wNXM pool is 2× (still high, but that pool is a superstar), whereas this proposal is asking for double that. While not unprecedented, we should still take pause and consider if this is justified.

As @eldude has already pointed out, Celsius executives Roni Cohen-Pavon and Yaron Shalem, the CRO and CFO, respectively, have been named in a money-laundering investigation, and are known associates of the criminal Moshe Hogeg. Yaron Shalem has already been arrested. If you would like to look into the matters further, the articles by CoinDesk (here, here, and here) are a good place to start.

It should be noted that the charges are unrelated to Celsius; the alleged crimes were not committed during their employment at Celsius. Regardless, let’s ask a sensible question:

Is this the best time to be growing the size of the Celsius pool 4×?

I think Celsius will press on - they have not been accused of any wrongdoing, and their product is quite good. But the paranoia in me wants us to wait until we are certain the storm has passed.

2 Likes