Add CGP 0004 for setting frozen gold parameters, update 0001, 0002 to include execution details

CGPs/0001.md

@@ -2,9 +2,9 @@
 
 - Date: 2020-05-12
 - Author: @aslawson
-- Status: DRAFT
+- Status: EXECUTED
 - Governance Proposal ID #: 2
-- Date Executed: [if executed]
+- Date Executed: 2020-05-18
 
 ## Overview
 

CGPs/0002.md

@@ -2,9 +2,9 @@
 
 - Date: 2020-05-12
 - Author(s): @aslawson
-- Status: DRAFT
+- Status: EXECUTED
 - Governance Proposal ID #: 3
-- Date Executed: [if executed]
+- Date Executed: 2020-05-18
 
 ## Overview
 

CGPs/0004.md

@@ -0,0 +1,43 @@
+# CGP [0004]: Setting Frozen Part of Reserve CELO
+
+- Date: 2020-06-11
+- Author(s): @MarkusBerlin, @rcroessmann, @aslawson
+- Status: DRAFT
+- Governance Proposal ID #: [if submitted]
+- Date Executed: [if executed]
+
+## Overview
+This change sets the frozen CELO (formerly known as Celo Gold, i.e. cGLD) parameters in the reserve.
+
+Changes in parameters:
+
+- frozenReserveGoldStartBalance: 0 --> 80000000000000000000000000
+- frozenReserveGoldDays: 0 --> 548 (approx. 365 * 1.5 = 18 months)
+
+The total amount of CELO allocated to the reserve is 120m. The initial frozen CELO amount will be 80m (`frozenReserveGoldStartBalance`) which leaves about 40m initially unfrozen.  50% of the unfrozen CELO will be transferred to a reserve custodian account early on (respecting the 5% daily spending limit) to have it readily available.
+
+To not put too much selling pressure on CELO, the remaining Gold will be linearly unfrozen over the course of 18 months (`frozenReserveGoldDays`) starting from the day that this proposal is executed.
+
+## Proposed Changes
+
+1. Set Reserve Frozen Gold Parameters
+ - Destination: Reserve, [setFrozenGold](https://github.com/celo-org/celo-monorepo/blob/de09a44f5ea2c2116506a6b3d05dcaaef92d4fad/packages/protocol/contracts/stability/Reserve.sol#L153)
+ - Data: 80000000000000000000000000 (80,000,000 * 10^18), 548
+ - Value: 0 (NA)
+
+## Verification
+
+1. Confirm proposal steps: run `celocli governance:view --proposalID x` // TODO add proposal ID once submitted proposal
+
+### Post-Execution Verification
+
+1. Check Reserve values for [frozenReserveGoldStartBalance](https://github.com/celo-org/celo-monorepo/blob/de09a44f5ea2c2116506a6b3d05dcaaef92d4fad/packages/protocol/contracts/stability/Reserve.sol#L44), [frozenReserveGoldStartDay](https://github.com/celo-org/celo-monorepo/blob/de09a44f5ea2c2116506a6b3d05dcaaef92d4fad/packages/protocol/contracts/stability/Reserve.sol#L45), [frozenReserveGoldDays](https://github.com/celo-org/celo-monorepo/blob/de09a44f5ea2c2116506a6b3d05dcaaef92d4fad/packages/protocol/contracts/stability/Reserve.sol#L46)
+
+## Risks
+
+- At launch of the protocol, 120m CELO were allocated to the Celo reserve which currently make up a large percentage of the total Celo reserve value. Freezing part of that reserve CELO via this proposal is intended to allow bootstrapping the non-CELO Celo reserve in a controlled way over an extended period of time thereby reducing the risk of sharp increases of floating CELO supply.
+- Freezing CELO reduces the amount of available reserve assets early on.  This could enhance the risk that occurs when a demand decrease for stablecoins (cUSD) exceeds the total value of the (now reduced) exchangeable assets in the reserve.
+
+## Useful Links
+
+* [Stability WhitePaper](https://celo.org/papers/Celo_Stability_Analysis.pdf)