Cardano (ADA)

NEW GOVERNANCE VOTE 🗳️ As a DRep, we've voted NO on the IO: Cardano Upgrades governance action (17.71M ₳ voting power). Summary: Core economic-layer work needs explicit team composition, FTE rates, and artifact-driven milestones, not category budgeting. Founding entities' roadmap commitments should be funded by their own resources first, not default to treasury. And the Intersect Budget Process exists precisely for proposals like this. Full rationale: "I’m voting NO because a request of this size for core, roadmap-adjacent protocol/economic-layer work is not presented with an auditable cost model or strong enough delivery evidence standards to justify treasury deployment. The proposal is directionally meaningful, but it relies largely on category budgeting rather than the level of transparency expected for multi-million-ADA public funding: explicit named delivery team composition, FTE counts and rates by workstream, and artifact-driven milestone acceptance criteria (what will be published at each gate, how it will be tested/verified, and what constitutes completion). This matters because the workstreams sit at the economic core of the platform. Mistakes or partial delivery create ecosystem-wide costs and without clear cost traceability and acceptance evidence, governance can’t benchmark value-for-money, which is an important factor with treasury-funded initiatives. More importantly, as a governance principle, core roadmap deliverables from founding entities were expected to be covered primarily by their own long-standing resources (including genesis allocation), and the treasury should not become the default completion fund for these categories unless the proposal is structured with exceptional clarity and procurement discipline. Finally, we are giving a process penalty for bypassing the Intersect Budget Process, which was specifically designed to address the gap in the process between proposers and Dreps. Bypassing the Intersect budget mechanism undermines comparability and price discovery for a major protocol spend, and founding entities should set the example by using the improved process rather than routing around it." ------ Cardanians stake pools: https://t.co/DHIRaOJ2UB DRep ID: drep1yt4lyf0fwlrz8k6j5evd3rxw0sqp67qkh36su98a97q3qsc0h03y4 https://t.co/SS2XxsExu3

We appreciate the support of our DRep delegators! If you like the way we vote, consider delegating to us too. Our DRep ID: drep1yt4lyf0fwlrz8k6j5evd3rxw0sqp67qkh36su98a97q3qsc0h03y4 Check us out on Cexplorer: https://t.co/SgY0yCrM8B

Link to the vote: https://t.co/fGoJGLys7v https://t.co/MY6R79r59J