Celo Foundation Chair Rene has announced a proposal to enhance the CELO token's economic model by introducing a buyback and burn mechanism. This initiative aims to strengthen the token's long-term economic structure. The upgrade will proceed through four stages: gathering public opinion on the Celo forum, conducting research and modeling, undergoing community review, and obtaining final governance approval. The process is designed to be expedited, transparent, and community-driven, with leadership from the Celo Foundation and cLabs.