TechFlame reports that Rene, Chair of the Celo Foundation, announced in a post that the CELO token economic model will be upgraded, with considerations to introduce token buyback and burn mechanisms to enhance the long-term economic framework. He stated that as network activity grows, the existing model requires redesigning to better accommodate the increasing demand for transaction fees. The upgrade process will be carried out in four phases: first, soliciting public feedback on the Celo forum, followed by inviting researchers, token economists, and ecosystem contributors to participate in the coming weeks; then proceeding with research and modeling; the third phase involves community review; and finally, completion through governance procedures. The entire process will adopt a fast-paced, transparent, and community-driven approach, led by the Celo Foundation and cLabs.