Yoroi W₳llet

"Yoroi DRep votes ABSTAIN on Cardano Builder DAO. Yoroi recognises the importance of responsible governance during periods of ecosystem uncertainty.

• Ecosystem Situation: The trust our delegators place in Yoroi requires that we act only when we can do so with full confidence. In light of the current situation, Yoroi is choosing to withhold its vote on this proposal and will reassess our position once conditions allow for a considered decision."

"Yoroi DRep votes ABSTAIN on Withdraw 4,969,231 ada for Cardano Enterprise Adoption: Ticketing Platform. Yoroi recognises the importance of responsible governance during periods of ecosystem uncertainty.

• Ecosystem Situation: The trust our delegators place in Yoroi requires that we act only when we can do so with full confidence. In light of the current situation, Yoroi is choosing to withhold its vote on this proposal and will reassess our position once conditions allow for a considered decision."

"Yoroi DRep votes ABSTAIN on Se7en Labs: Daedalus Wallet Maintenance and Improvements 2026-2027. Yoroi recognises the importance of responsible governance during periods of ecosystem uncertainty.

• Ecosystem Situation: The trust our delegators place in Yoroi requires that we act only when we can do so with full confidence. In light of the current situation, Yoroi is choosing to withhold its vote on this proposal and will reassess our position once conditions allow for a considered decision."

"Yoroi DRep votes ABSTAIN on Blockfrost's transformation to not-for-profit. Yoroi recognises the importance of responsible governance during periods of ecosystem uncertainty.

• Ecosystem Situation: The trust our delegators place in Yoroi requires that we act only when we can do so with full confidence. In light of the current situation, Yoroi is choosing to withhold its vote on this proposal and will reassess our position once conditions allow for a considered decision."

Yoroi DRep votes ABSTAIN on Eternl: Path to Sustainability - v2. Yoroi recognises the importance of responsible governance during periods of ecosystem uncertainty.

• Ecosystem Situation: The trust our delegators place in Yoroi requires that we act only when we can do so with full confidence. In light of the current situation, Yoroi is choosing to withhold its vote on this proposal and will reassess our position once conditions allow for a considered decision.

Yoroi DRep votes ABSTAIN on Strike Finance Liquidity Deployment. Yoroi recognises the importance of responsible governance during periods of ecosystem uncertainty.

• Ecosystem Situation: The trust our delegators place in Yoroi requires that we act only when we can do so with full confidence. In light of the current situation, Yoroi is choosing to withhold its vote on this proposal and will reassess our position once conditions allow for a considered decision.

Yoroi DRep votes YES on Withdraw 3,961,538 ada for Bringing Real-World Payments to Cardano with Wirex. The Cardano community has spoken clearly through the Hydra off-chain voting platform, and Yoroi is committed to honouring that voice.

• Honouring the Community Mandate: With a supermajority of over 67% in the off-chain governance process, this proposal carries a strong and unambiguous signal of community support. Yoroi votes Yes in alignment with that collective decision.

Yoroi DRep votes YES on Withdraw 1,162,746 ada for MLabs Core Tool Maintenance & Enhancement: Plutarch, Plinth and Clb. The Cardano community has spoken clearly through the Hydra off-chain voting platform, and Yoroi is committed to honouring that voice.

• Honouring the Community Mandate: With a supermajority of over 67% in the off-chain governance process, this proposal carries a strong and unambiguous signal of community support. Yoroi votes Yes in alignment with that collective decision.

Yoroi DRep votes YES on Withdraw 540,750 ada for Oura by TxPipe: Maintaining Cardano's Event Pipeline. The Cardano community has spoken clearly through the Hydra off-chain voting platform, and Yoroi is committed to honouring that voice.

• Honouring the Community Mandate: With a supermajority of over 67% in the off-chain governance process, this proposal carries a strong and unambiguous signal of community support. Yoroi votes Yes in alignment with that collective decision.

Yoroi DRep votes YES on Withdraw 540,750 ada for Pallas by TxPipe: Maintaining Cardano's Core Rust Library. The Cardano community has spoken clearly through the Hydra off-chain voting platform, and Yoroi is committed to honouring that voice.

• Honouring the Community Mandate: With a supermajority of over 67% in the off-chain governance process, this proposal carries a strong and unambiguous signal of community support. Yoroi votes Yes in alignment with that collective decision.

Yoroi DRep votes YES on Withdraw 1,684,050 ada for Tx3 by TxPipe: Open API Layer for Cardano's dApp Platform. The Cardano community has spoken clearly through the Hydra off-chain voting platform, and Yoroi is committed to honouring that voice.

• Honouring the Community Mandate: With a supermajority of over 67% in the off-chain governance process, this proposal carries a strong and unambiguous signal of community support. Yoroi votes Yes in alignment with that collective decision.

Yoroi DRep votes YES on Withdraw 540,750 ada for UTxO RPC by TxPipe: Maintaining Cardano's Integration Layer. The Cardano community has spoken clearly through the Hydra off-chain voting platform, and Yoroi is committed to honouring that voice.

• Honouring the Community Mandate: With a supermajority of over 67% in the off-chain governance process, this proposal carries a strong and unambiguous signal of community support. Yoroi votes Yes in alignment with that collective decision.

Yoroi DRep votes YES on Withdraw 1,310,960 ada for Hardware Wallet Maintenance 2026. The Cardano community has spoken clearly through the Hydra off-chain voting platform, and Yoroi is committed to honouring that voice.

• Honouring the Community Mandate: With a supermajority of over 67% in the off-chain governance process, this proposal carries a strong and unambiguous signal of community support. Yoroi votes Yes in alignment with that collective decision.

Yoroi DRep votes YES on Withdraw 540,750 ada for by TxPipe Dolos: Maintaining Cardano's Lightweight Data Node. The Cardano community has spoken clearly through the Hydra off-chain voting platform, and Yoroi is committed to honouring that voice.

• Honouring the Community Mandate: With a supermajority of over 67% in the off-chain governance process, this proposal carries a strong and unambiguous signal of community support. Yoroi votes Yes in alignment with that collective decision.

Yoroi DRep votes YES on Withdraw 1,193,000 ada for Intersect Technical Steering Committee Support. The Cardano community has spoken clearly through the Hydra off-chain voting platform, and Yoroi is committed to honouring that voice.

• Honouring the Community Mandate: With a supermajority of over 67% in the off-chain governance process, this proposal carries a strong and unambiguous signal of community support. Yoroi votes Yes in alignment with that collective decision.

Yoroi DRep votes YES on Withdraw 25,400,000 ada for Intersect: Governance coordination and technical support. The Cardano community has spoken clearly through the Hydra off-chain voting platform, and Yoroi is committed to honouring that voice.

• Honouring the Community Mandate: With a supermajority of over 67% in the off-chain governance process, this proposal carries a strong and unambiguous signal of community support. Yoroi votes Yes in alignment with that collective decision.

Yoroi DRep votes YES on Withdraw 3,810,423 ada for Mithril Protocol. The Cardano community has spoken clearly through the Hydra off-chain voting platform, and Yoroi is committed to honouring that voice.

• Honouring the Community Mandate: With a supermajority of over 67% in the off-chain governance process, this proposal carries a strong and unambiguous signal of community support. Yoroi votes Yes in alignment with that collective decision.

Yoroi DRep votes ABSTAIN on Reforming Treasury Governance. Yoroi acknowledges the importance of thoughtful treasury governance reform for the long-term health of the Cardano ecosystem.

• Need for Broader Consensus:
  As a non-binding signalling action on a structurally significant topic, Yoroi opts to abstain and reserve its position until there is greater clarity and broader community consensus on the direction of treasury reform. We will engage further as the discussion develops.

Yoroi DRep votes ABSTAIN on Reimburse Ikigai Info Governance Action Deposit.. Yoroi recognises the importance of responsible governance during periods of ecosystem uncertainty.

• Ecosystem Situation: The trust our delegators place in Yoroi requires that we act only when we can do so with full confidence. In light of the current situation, Yoroi is choosing to withhold its vote on this proposal and will reassess our position once conditions allow for a considered decision.

Yoroi DRep votes ABSTAIN on IO: Hydra. Yoroi recognises the importance of responsible governance during periods of ecosystem uncertainty.

• Ecosystem Situation:
  The trust our delegators place in Yoroi requires that we act only when we can do so with full confidence. In light of the current situation, Yoroi is choosing to withhold its vote on this proposal and will reassess our position once conditions allow for a considered decision.

Yoroi DRep votes YES on Reduce the committeeMinSize parameter from 7 to 5. Yoroi supports this governance parameter adjustment as a pragmatic measure to improve the operational resilience of the Constitutional Committee.

• Operational Flexibility
  Reducing the committeeMinSize from 7 to 5 allows the Constitutional Committee to function effectively even in scenarios where member availability is limited, without compromising governance integrity. Yoroi therefore votes Yes on this proposal.

Summary
Yoroi DRep votes YES on "Hard Fork to Protocol Version 11 ('van Rossem' Hard Fork)" as a practical and well-managed protocol upgrade that directly benefits developers and the broader ecosystem.

Rationale
• Expanded Plutus capabilities for developers.
The new primitives introduced across five CIPs unlock new possibilities for smart contract design and reduce execution costs for patterns that are common in production DApps today. These are targeted improvements with a direct effect on what developers can build and how efficiently they can build it.
• Low disruption by design.
As an intra-era hard fork, this upgrade advances the protocol version without changing the ledger era, keeping the impact on SPOs, tooling, and existing applications to a minimum. Yoroi views this as the right way to deliver protocol improvements at this stage of the network's maturity.

Conclusion
The van Rossem hard fork is a clear and well-justified step forward for Cardano's smart contract platform. The scope is targeted, the implementation approach is careful, and the benefits to developers are concrete. On that basis, this proposal has Yoroi's full support.

Summary
Yoroi DRep votes YES on "Tweag Core Cardano Infrastructure: Treasury Withdrawal 2026–2027" as a well-scoped and timely investment in the protocol infrastructure that Cardano's next phase of growth depends on.

Rationale
• Peras mainnet deployment is overdue.
Peras has been in development and the research is sound, but it remains undeployed on mainnet. Reducing finality from roughly 12 minutes to around 2 minutes is not a marginal improvement; it is a prerequisite for the kind of DApp experiences that compete with other L1s. This proposal funds the production cryptography, KillSwitch mechanism, and hard fork readiness work needed to get it there.
• Keeping node operation economically viable.
At the throughput levels Leios targets, full-history storage requirements will become economically prohibitive for many SPOs. History Expiry is the structural fix for that problem, and funding it now, ahead of Leios activation, is the right sequencing. Delaying it means the problem arrives faster than the solution.
• Tweag's track record warrants confidence.
The team has been contributing to Cardano's consensus and ledger layers since 2018, with prior treasury funding delivered against open-source, publicly tracked milestones. The conformance testing framework being extended here for both Peras and Leios further demonstrates a long-term investment in ecosystem correctness, not just point deliverables.

Conclusion
Yoroi supports this proposal as a necessary and well-governed continuation of core infrastructure work that the ecosystem has already committed to. The scope is coherent, the team is credible, and the timing is right. Yoroi votes YES.

Summary
Yoroi DRep votes YES on "Rare Evo and Dev Gov Day 2026: Cardano Title Sponsorship" as a practical investment in Cardano's ecosystem visibility and governance coordination.

Rationale
• Established platform with a track record.
Rare Evo has consistently delivered well-organised events that bring the Cardano community together at scale. Supporting a known entity with demonstrated execution capacity is a lower-risk use of treasury funds than backing an unproven initiative of comparable cost.
• Governance Day adds substance beyond sponsorship.
Rare Dev Gov Day provides dedicated space for governance discussion and developer coordination that complements the broader event. For Yoroi, this is a meaningful part of the value proposition, not an afterthought.

Conclusion
Rare Evo is an established platform and the scope of this sponsorship is well-defined. Yoroi believes this is a sound use of treasury resources for ecosystem presence and community coordination.

Summary
Yoroi DRep votes ABSTAIN on "Eternl: Path to Sustainability (2026-2027)".

Rationale
This proposal has been found unconstitutional by the Constitutional Committee. As such, Yoroi votes ABSTAIN. A revised proposal has been submitted and Yoroi will assess in due course.

Summary
Yoroi DRep votes YES on "Update Plutus Cost Models", supporting this parameter change as a necessary and well-validated step in preparing Cardano for the van Rossem hard fork.

Rationale

A required update ahead of the van Rossem hard fork This action provides the cost model settings needed to activate new Plutus primitives following the upgrade to Protocol Version 11. Without this update, the new primitives introduced across five CIPs covering cryptography, list operations, array builtins, and value manipulation would not be usable after the hard fork.

Properly benchmarked and validated All new and updated cost model values have been benchmarked against the standard reference architecture and validated through enactments on SanchoNet, Preview, and Preprod testnets. The changes are consistent with all three relevant constitutional guardrails, no values are negative, and the process followed Intersect's Parameter Committee and Technical Steering Committee review.

Consistency improvements across Plutus versions The action also ensures that primitives previously limited to Plutus V3 are made available in V1 and V2, improving consistency across versions and reducing friction for developers working across different contract environments.

Conclusion
Yoroi supports this parameter change as a technically sound and procedurally well-governed update that is necessary for the van Rossem hard fork to proceed as intended, and votes

Summary
Yoroi DRep votes YES on "5am.earth Trust Layer Targeting Vision 2030 KPIs", recognising this proposal as one of the stronger real-world adoption cases currently before the community, backed by live operational evidence and a credible path to self-sustainability.

Rationale

• Already operational on Cardano Mainnet
Project Swaminathan is live on Cardano Mainnet today, registering farmers and farms at 500 per day with a 100% blockchain success rate. This is a scale-up of proven infrastructure, not a speculative build, which significantly reduces delivery risk.

• Credible consortium with field distribution at scale
The Syngenta Foundation India AE network already reaches 2.6 million farmers, and three named application paths are backed by partners with signed engagements. The 2030 projections of 3 million farmers and 112.5 million annual on-chain transactions are grounded in distribution infrastructure that already exists.

• Well-structured financial accountability
The 10,000,000 ADA hard cap is milestone-gated at 5/2/3 ADA, with surplus above $3.5M returned to the Treasury and a hard commitment to self-sustainability by 2028. Yoroi is satisfied that the risk-to-impact ratio justifies this allocation.

Conclusion

Yoroi supports this proposal as a meaningful real-world adoption initiative that directly advances Cardano's 2030 goals across transaction volume, TVL, and active users. The combination of live operational proof, institutional distribution scale, and a clear exit from Treasury dependency makes this one of the more compelling proposals in the current cycle, and Yoroi votes YES.

Summary
Yoroi DRep votes NO on "Cardano dOSPO and OMF Program", recognising the genuine need this proposal addresses while concluding that a treasury commitment of this scale is not appropriate before the governance foundations it depends on have been established.
Rationale
The problem is real, the design is credible
Cardano's open source infrastructure does face the maintainer concentration and funding continuity risks the proposal describes, and the data-driven selection model is a meaningful improvement over how previous maintainer programs have operated. Yoroi does not question the technical or institutional thinking behind the dOSPO and OMF framework, nor the proposer's firsthand experience of where earlier efforts failed.

Execution concentration is the core concern
The program's governance independence is its primary value proposition, but for the first six months it rests entirely on a single individual operating through a consulting firm. The independent legal entity, the advisory councils, and the published dependency methodology that are supposed to govern all funding decisions do not yet exist at the point of withdrawal. Twelve million ADA over 36 months is a significant commitment to make before those foundations are in place.

Treasury resources should follow demonstrated foundations, not precede them
Yoroi would be more supportive of a scoped first phase covering entity formation, council constitution, and the initial dependency audit, with a follow-on withdrawal once the governance infrastructure is operational and the first retainer selections have been made under the published rubric. Committing the full program budget before any of that has been proven is not a responsible use of treasury resources at this stage.
Conclusion
Yoroi acknowledges the work behind this proposal and the problem it is designed to address. Our NO vote is not a rejection of the dOSPO model; it is a considered view on sequencing and proportionality. We would welcome a resubmission structured around a first phase that allows the community to evaluate the governance foundations before committing at this scale, and we hope to be in a position to support a more targeted proposal in a future cycle.

Summary

Yoroi DRep votes NO on "Scalus: Cardano's Application Platform for Building, Launching, and Scaling", recognising the team's delivery track record and the legitimacy of the problem being addressed, while concluding that the scale of the request is not justified by the adoption evidence available today.

Rationale

A capable team addressing a real problem
Lantr Engineering has delivered consistently across prior funding cycles, completed milestones on time, and contributed meaningfully to Cardano's developer tooling ecosystem. The application layer bottleneck Scalus is designed to address is real, and an integrated build-to-production platform is a reasonable response to it. Yoroi does not question the team's capability or intent.

The funding leap is disproportionate to demonstrated adoption The proposal requests 8,503,000 ADA, nearly eight times the cumulative funding Scalus has received to date, with adoption targets that set a floor of five external teams and two production deployments during the funding period. That gap between the scale of the ask and the scale of validated demand is difficult to bridge. Treasury commitments of this magnitude are most defensible when they are building on proven traction, not projecting it.

The JVM thesis needs more validation before this level of investment The central argument for Scalus is that it opens Cardano to the JVM developer ecosystem. That argument is credible in principle, but the evidence of actual JVM developer interest in Cardano today is limited. Yoroi would be more comfortable supporting a focused follow-on proposal that demonstrates early platform adoption and validates the JVM entry thesis before the community commits to platform-scale funding.

Conclusion
Yoroi respects the work Lantr Engineering has contributed to the Cardano ecosystem and the technical quality behind the Scalus platform. Our NO vote is a considered view on proportionality, not a rejection of the project, and we would welcome a resubmission with a scope that better reflects current adoption.

Summary
Yoroi DRep votes YES on "Cardano Vision 2026: Human Centred, Scalable, Post Quantum Secure - IO Research". Yoroi previously voted ABSTAIN due to concerns that the proposal's bundled structure limited the ability to assess and prioritise individual research streams within a single funding decision. Following further review, we concluded that the strategic importance of the overall research program and IOR's demonstrated delivery record outweigh those governance concerns, leading us to update our vote to YES.
Rationale
• Strategic importance of the research agenda
The proposal addresses several areas that are important to Cardano's future development, including scalability, post-quantum security, interoperability, governance, identity, and developer experience. While not every workstream carries the same level of urgency, together they represent a coordinated investment in Cardano's long-term technical foundations.
• Benefits outweigh structural concerns
Our original abstention reflected a preference for greater visibility into how individual research priorities could be evaluated within a proposal of this scale. While we continue to believe that additional granularity would improve future treasury decision-making, we no longer consider the bundled structure sufficient reason to withhold support. Given IOR's proven delivery record and the strategic value of maintaining Cardano's research pipeline, we believe supporting the proposal is the better outcome for the ecosystem.
Conclusion
Yoroi supports this proposal because the value of sustaining Cardano's long-term research capabilities outweighs our concerns regarding the proposal's structure.

Summary
Yoroi DRep votes YES on "Cardano at TOKEN2049 Singapore 2026: Baseline 'Platinum' Sponsorship Proposal", following updates to the proposal that have addressed our core concerns as a related entity.

Rationale
Governance integrity upheld
EMURGO is the proposer of this action, and Yoroi's initial inclination was to abstain on that basis. EMURGO has since waived its 15% management fee in full, committing to return it to the Treasury, which means every ada requested reflects true third-party vendor costs and EMURGO derives no financial benefit from this proposal passing. That revision, alongside Charles Hoskinson's personal commitment to amplify Cardano's presence, gives us sufficient confidence to move from abstention to support.

Built for Cardano builders
The core purpose of this activation is to put the people actually building on Cardano in front of the right audiences. TOKEN2049 Singapore is the premier gathering of institutional investors and enterprise decision-makers in the Asian Web3 market, and the Platinum tier gives Cardano builders a stage at one of the most important events in the industry.

Accountability mechanisms are in place
All funds flow through Intersect's audited smart contract infrastructure, with milestone-based disbursements, a public dashboard, and a full post-event report committed within 60 days of the event. Any surplus resulting from ADA price appreciation is contractually committed to return to the Treasury within six months.

Conclusion

Yoroi supports this proposal as a community-first activation that directly benefits Cardano builders, structured with appropriate accountability and delivered by an entity with a proven track record at TOKEN2049. With the administration fee removed and additional personal resources committed, the basis for abstention no longer holds, and Yoroi votes YES.

Summary

Yoroi DRep revises its prior ABSTAIN to YES on “IO: Developer Experience Initiative”, following a reassessment of the balance between structural concerns and strategic urgency.

Rationale

The strategic case has become harder to set aside. Developer experience is time-sensitive, and the cost of a further delay to a well-motivated, empirically grounded programme is material. Yoroi now considers the delivery risks manageable relative to the importance of the goal, particularly given IO’s demonstrated capacity to execute at this scale.

Monitoring will be our accountability mechanism. Since our structural concerns have not been formally resolved, Yoroi intends to hold IO to refining its success metrics and coordination approach through the oversight process. A YES vote is not an endorsement of every element of the delivery design.

Conclusion

Yoroi votes YES. We are making this revision openly, acknowledging that the proposal is unchanged and that our prior concerns remain live. Our judgement is that supporting this initiative now, with active oversight, is more responsible than deferring again on grounds that may not be resolvable before the vote closes.

Summary

Yoroi DRep votes YES on “IO & VacuumLabs: Enhancing Plutus — Performance, Correctness, and Usability”. This is a change from Yoroi’s earlier ABSTAIN position, with the reasoning for that change set out below.

Rationale

Plutus evaluator accuracy cannot be deferred.
The conformance testing framework and Agda formalization ensure that any node implementation executes smart contracts identically and correctly. Without them, alternative node teams have no authoritative specification to test against as they progress toward production. That gap becomes harder to close the longer it remains unfunded, and that risk now outweighs the timing concern behind our original position.

Distributed stewardship tips the balance.
The VacuumLabs partnership spreads Plutus maintenance expertise across organisations, reducing single-point-of-failure risk in a critical part of the stack. Combined with IO’s track record of returning unused funds within the Intersect framework, both factors give Yoroi confidence in delivery at the requested scale.

Conclusion

Yoroi’s earlier abstention reflected a cautious moment in the cycle rather than a substantive objection to this work. Having reassessed the broader funding landscape and considered the sequencing implications more carefully, Yoroi changes its vote to YES and supports this proposal as a well-timed and well-governed investment in the foundations Cardano’s smart contract ecosystem depends on.

Summary
Yoroi DRep votes NO on "[OriLife × TonFarm] Identifying 180 Million Durians Without Physical Labels". This is not a judgment on the team or the underlying technology, but a considered view on whether the Cardano Treasury is the right funding vehicle for this deployment at this stage.
Rationale
The proposal's own framing undermines the case for treasury funding.
If Circular 11 and GACC create legally mandated demand, the natural funding source is procurement by the stakeholders who face that obligation. Treasury funds are better suited to public goods that cannot attract private or commercial capital, and this proposal has not fully made that case.

Ecosystem returns are not commensurate with the ask.
The 75,000 ADA locked at M4 and modest annual fee contributions within a closed MAGIC credit economy do not present a clear pathway to broader Cardano network participation. In a constrained budget cycle, allocations of this scale should demonstrate more direct ecosystem return.

Commercial and government procurement channels are the more natural fit.
The agricultural traceability sector is established and commercially active. The Alliance's Bio-ID approach is genuinely differentiated, and we would encourage the team to explore sector-specific investment and government procurement as the primary funding pathway.
Conclusion
Yoroi has genuine respect for the Alliance's field work and commitment to a real supply-chain problem. Our NO reflects a view on funding appropriateness, not a dismissal of the project, and we remain open to a future proposal that addresses the return case more directly.

Summary
Yoroi DRep votes YES on “Cardano Critical Integrations V2” as the necessary operational continuation of infrastructure the Cardano ecosystem already depends on.
Rationale
Maintenance of live infrastructure is not optional.
The CCI V1 integrations are in production. Circle USDCx, LayerZero, Pyth, and Dune Analytics each carry recurring licensing, attestation, and operational costs that must be renewed for the integrations to remain functional. Allowing these to lapse would degrade infrastructure that protocols and users already rely on, and funding them through a single ratified budget is more efficient than managing each renewal as a separate governance action.

Fireblocks expands institutional access at a logical moment.
Institutional adoption requires custody infrastructure that meets regulatory and operational standards. A native Fireblocks integration gives exchanges, asset managers, and custodians a standard pathway to support ADA and Cardano Native Tokens without bespoke solutions. Including Year 1 Fireblocks costs within this cycle, alongside existing maintenance, is a sensible sequencing decision.

Governance and oversight structure is adequate.
The Pentad Steering Committee provides cross-organizational oversight with quorum requirements for disbursements, and Intersect administers funds under the established treasury smart contract framework. The lack of vendor-level cost disclosure is noted as a limitation, but the combination of multi-party governance, milestone-based drawdowns, and mandatory return of unused funds provides sufficient accountability for Yoroi to support this proposal.

Conclusion
Yoroi votes YES on CCI V2 as a necessary and appropriately governed commitment to sustaining the institutional integration infrastructure Cardano has already invested in building.

Summary
Yoroi DRep votes YES on “Pebble & Ecosystem Maintenance: TypeScript Core of Cardano”, recognising this resubmission as a materially improved proposal that addresses the concerns raised in our prior ABSTAIN position.
Rationale
A focused resubmission that addresses prior concerns.
The combined HLabs proposal that Yoroi abstained on bundled Gerolamo, Pebble, and tooling maintenance into a single 8 million ADA request. This proposal separates those tracks, removes the node implementation entirely, and reduces the ask to 4,600,000 ADA. The concerns Yoroi raised about scope and proportionality have been directly addressed by the resubmission structure HLabs has chosen.

Pebble’s performance case is now independently verified.
At the time of our prior vote, the case for Pebble rested largely on the team’s own claims. The UPLC-CAPE benchmark results, produced through IOG’s independent evaluation framework, now show that Pebble outperforms Aiken on CPU and memory budget and is competitive with Plutarch. Combined with a TypeScript-shaped syntax that serves the largest developer community on Cardano, this positions Pebble as a complementary on-ramp rather than a redundant one.

Tooling maintenance is load-bearing infrastructure.
The HLabs TypeScript stack is a dependency of Mesh, Lucid Evolution, Midgard, and numerous production dApps. Keeping it synchronised with protocol upgrades is not discretionary work; it is the foundational maintenance that keeps the TypeScript ecosystem coherent through hard forks. Funding it here avoids pushing that cost onto dozens of downstream teams who would otherwise have to absorb it independently.

Conclusion
Yoroi votes YES on this proposal as a well-scoped, appropriately priced successor to the prior HLabs submission, and one that reflects the kind of focused, evidence-based resubmission we encouraged.

Summary
Yoroi DRep votes ABSTAIN on "The first node in the browser; a Cardano USP." This position reflects a continuation of our view on node diversity sequencing and is not a judgment on HLabs or the quality of their work.
Rationale
Yoroi acknowledges the effort to resubmit with a narrower scope.
HLabs has responded to community feedback by separating this proposal from the broader combined request and reducing the budget significantly. That responsiveness is appreciated, and the browser-node concept remains technically compelling for the reasons the proposal articulates well.

Our reservations about TypeScript as a node foundation remain open.
Conversations with developers and engineers in the ecosystem continue to surface questions about whether TypeScript is the right choice for production-grade node infrastructure. We do not hold this view with certainty and remain open to hearing from those who see it differently, but it continues to factor into our position.

The sequencing question has not materially changed.
With Amaru and Dingo already funded and working toward alternative node readiness, the case for a third implementation in the same cycle remains difficult to establish, even accounting for the distinct browser-focused scope of this proposal. Yoroi would find it easier to support Gerolamo in a future cycle once the existing funded efforts have progressed further toward their delivery targets.

Conclusion
Yoroi has genuine respect for HLabs and the contributions they continue to make to the Cardano TypeScript ecosystem. Our decision to abstain reflects a considered view on timing and sequencing rather than any objection to the team or the concept. We would welcome a future proposal once the broader node diversity landscape has had time to mature and would hope to be in a position to support it at that point.

Summary
Yoroi DRep votes ABSTAIN on Tweag Core Cardano Infrastructure: Treasury Withdrawal 2026-2028. While Yoroi has confidence in Tweag's technical expertise and track record, the scale and structure of this request warrant a more measured approach before full endorsement.
Rationale
Tweag's track record and the importance of this work are not in question. The focus on Peras mainnet delivery, conformance testing, and node observability addresses areas the ecosystem genuinely needs, and Tweag has the institutional knowledge to deliver them. Yoroi does not take lightly the risk of disrupting continuity on work of this criticality.

A two-year, 39.79M ADA commitment requires stronger annual accountability gates.
The proposal bundles 17 work packages across a broad scope into a single funding action, with the full two-year amount requested upfront. For a commitment of this magnitude, Yoroi believes the community deserves clearer year-by-year milestones and a structure that allows the second year's funding to be contingent on verified first-year delivery.

A phased submission would be easier to support.
Splitting the proposal into annual tranches would preserve the continuity of the work while providing the governance oversight that a request of this scale warrants. Yoroi would be in a significantly stronger position to vote YES on a first-year proposal with a clearly defined scope and a commitment to return for the second year upon delivery.

Conclusion
Yoroi respects the depth of Tweag's contribution to Cardano's infrastructure and the importance of the work outlined in this proposal. Our abstain is not a rejection of the team or the programme, but a considered view that a commitment of this scale deserves a more structured approach to community oversight. We would encourage a resubmission structured around annual tranches and look forward to supporting that work through the governance process.

Summary
Yoroi DRep votes ABSTAIN on "IO & Midgard Labs: L2 Scalability Initiative." While Yoroi recognises the importance of Layer 2 infrastructure for Cardano's long-term competitiveness, the structure of this proposal makes a considered YES difficult to justify at this time.
Rationale
The Hydra workstream has clear and immediate justification.
Delta DeFi and Masumi represent live production commitments that give the Hydra hardening work a specific and demonstrable ecosystem rationale. Yoroi would find it straightforward to support this component independently, precisely because it is anchored in demonstrated demand rather than projected future adoption.

The bundled structure creates an uneven evaluation problem.
The same vote that covers mature Hydra work also funds early-stage data availability research and the mainnet push for a rollup still resolving its multi-operator coordination model. These components sit at very different points on the maturity curve, and an all-or-nothing governance action does not give DReps a proportionate way to engage with that difference.

Clearer separation would strengthen the case for each workstream.
Yoroi is not opposed to any of the three components in principle and recognises their collective importance to Cardano's scalability roadmap. A proposal structure that draws cleaner lines between workstreams, or submits them independently, would allow each to be assessed on its own delivery evidence and risk profile.

Conclusion
Yoroi supports the goal of building a credible Layer 2 ecosystem on Cardano and respects the work that IO and Midgard Labs are undertaking. Our abstain is not a rejection of that direction, but a reflection that the current proposal structure makes it difficult to engage with each workstream on its own merits. We would welcome a resubmission that gives each component room to stand independently.

Summary
Yoroi DRep votes ABSTAIN on "Blockfrost: Maintenance and Next Generation Indexing." This position is not a judgment on the team or the value of the infrastructure they provide, but a considered view on proposal structure and the appropriate use of treasury resources.
Rationale
Project Cayley addresses a well-defined infrastructure need.
The shift toward decentralized slice indexing is a logical response to the cost pressures that Leios will place on full-chain data providers, and the multi-chain architecture extending to Bitcoin opens meaningful longer-term possibilities. Yoroi supports the direction and recognises the technical credibility of the team behind it.

The bundled structure complicates evaluation.
Combining new infrastructure development with an operational subsidy for an existing commercial service under a single governance action prevents each from being assessed on its own merits. The subsidy component, covering the ongoing cost of a free tier operated by a business with an active paid product, raises questions that deserve separate consideration rather than being folded into a broader infrastructure vote.

A clearer commercial sustainability case would strengthen the proposal.
Without visibility into revenue, cost recovery, and the long-term funding model for the free tier, it is difficult to assess whether treasury support is structurally necessary or a transitional measure. Yoroi would be more inclined to support the operational component if it were accompanied by greater financial transparency and a defined path toward self-sustainability.

Conclusion
Yoroi values the role Blockfrost has played in the ecosystem and supports the ambition of Project Cayley. Our abstain reflects a structural concern about how this proposal is composed rather than any judgment on the team or the work. We would welcome a resubmission that separates the two components and allows the community to engage with each on its own terms.

Summary
Yoroi DRep votes ABSTAIN on "Pogun: Capital Without Compromise." While Yoroi recognises the strategic opportunity this proposal targets and the technical effort behind it, the proposal raises questions around delivery sequencing and the scale of the treasury commitment at this stage of development.
Rationale
A promising concept at an early stage of validation.
Pogun's framing around Bitcoin DeFi is strategically relevant, and the oracle-free bilateral lending design is a genuine differentiation from conventional pool-based protocols. The proposal asks the treasury to fund three integrated components simultaneously, however, before any of them has reached mainnet, which places a significant delivery burden on a team without an established Cardano track record at this scale.

Bridge execution risk warrants careful consideration.
The BitVM bridge is the most technically complex of the three components, and it depends on cryptographic infrastructure that has not yet been demonstrated in production on Cardano. Yoroi does not question the theoretical robustness of the 1-of-N security model, but the gap between a sound design and a deployed, audited system handling real Bitcoin is substantial enough to warrant a more staged approach to funding.

The treasury ask would be stronger with a phased structure.
A proposal that funds the credit market to mainnet first, with subsequent disbursements contingent on verified delivery, would be significantly easier to support. Yoroi encourages the team to consider resubmitting with a structure that better reflects the current stage of development and gives the community a meaningful opportunity to validate progress before committing the full amount.

Conclusion
Yoroi recognises the ambition behind Pogun and the genuine strategic opportunity it targets. Our decision to abstain is not a dismissal of the project, but a considered view that the scale of the treasury commitment should be matched by a clearer delivery foundation. We would welcome a revised proposal that takes a more incremental approach and look forward to engaging with the team as the project matures.

Summary

Yoroi DRep votes YES for IO: Cardano High Assurance Technical Collaboration, as an investment in the formal verification infrastructure and developer tooling that underpins Cardano’s credibility as a platform for serious, high-value applications.

Rationale

Automated formal verification at ecosystem scale

Blaster’s 2025/26 cycle proved production-scale formal verification is feasible. This proposal extends that to full DApp-level verification, adds language integrations across Aiken, Pebble, Scalus, and Futura, and delivers it with a VS Code extension and Common Vulnerability Library, making formal verification a practical default rather than an expert-only option.

Distributed delivery and maintenance

The consortium model across six ecosystem organisations is the right structure for public infrastructure of this nature. It prevents the verification layer from depending on a single team’s continued funding and creates a self-reinforcing maintenance structure.

Onboarding friction is a real cost

A 60 to 70% attrition rate during Nix-based environment setup is not an acceptable baseline for a platform competing for developer mindshare. CBDE converting that to a single command has a direct effect on the number of active Plinth developers in the ecosystem.

Conclusion

Based on the rationales in the above, Yoroi votes YES. High assurance tooling and accessible developer environments are not peripheral concerns. They are what translates Cardano’s research reputation into real adoption among the developers and institutions that value correctness above all else.

Summary

Yoroi DRep votes YES on Cardano Upgrades, as a targeted and well-sequenced set of platform enhancements that address real adoption barriers and strengthen Cardano’s economic architecture.

Rationale

Micro-fees and L2 foundations

CIP-159 removes the minUTxOValue constraint that has limited wallet revenue models and batcher economics since launch, and unlocks L2 reserve patterns that solutions like Midgard require. These are practical improvements with immediate downstream impact.

Treasury resilience

The Multi-Asset Treasury CIP begins the design process for allowing the Treasury to hold stablecoins, reducing the ADA price exposure that every funded team currently carries across a funding cycle.

Seamless onboarding via Babel Fees

Babel Fees addresses the most common point of abandonment for new users bridging to Cardano. Enabling fee payment in any native asset converts first-time bridge users into active participants without an additional acquisition step, well-timed given USDC on Cardano and upcoming Bitcoin bridge activity.

Conclusion

Yoroi votes YES. The three workstreams in this proposal are coherent, practically motivated, and sequenced correctly relative to the broader protocol roadmap. Taken together they meaningfully expand what Cardano can offer to developers, wallet operators, and new users alike.

Summary

Yoroi DRep votes YES on “IO: Consensus Initiative”, as the proposal that directly determines whether Cardano can meet its 2030 throughput targets and sustain economic self-sufficiency as the Reserve diminishes.

Rationale

The primary scaling lever

Leios is how Cardano gets from 800,000 to 27 million monthly transactions. No combination of parameter tuning or incremental optimisation closes a gap of that magnitude. This proposal funds the critical path.

Built on demonstrated progress

The 2025/26 cycle delivered a public testnet and a feature-complete alpha. This proposal is the maturation phase of work already underway, with formal specification conformance, adversarial testing, and hard fork enablement as its defined outputs.

Ecosystem readiness included in scope

SPO workshops, developer documentation, DB-Sync and Mithril support, and updated governance artifacts are all part of this proposal. Hard fork readiness is treated as a shared responsibility, not an afterthought.

Conclusion

Yoroi votes YES. Leios is not a discretionary upgrade. It is the mechanism by which Cardano’s stated 2030 commitments become technically achievable, and this proposal represents the right investment at the right moment in its development.

Summary

Yoroi DRep votes YES on the Cardano Maintenance Initiative, as the foundational operational expenditure underpinning every other initiative currently being funded from the Cardano treasury.

Rationale

Non-discretionary infrastructure

Maintenance is continuous and non-optional. The nine functional areas covered constitute the minimum viable operating surface for Cardano as a production network. Gaps in any of them carry direct consequences for SPOs, developers, and end users.

Everything else depends on this

The Cardano Blueprint enables node diversity. E2E testing and release management make hard forks safe. Performance benchmarking enables evidence-based parameter decisions. This proposal is not parallel to the ecosystem’s other priorities. It is the substrate they rest on.

Proportionate cost for genuine scope

Nine months of cross-functional delivery across engineering, DevOps, QA, performance, security, documentation, and release management. IO’s prior track record of treasury accountability further supports confidence in delivery.

Conclusion

Yoroi votes YES. A well-maintained Cardano is not one option among many. It is the precondition for the ecosystem’s 2030 ambitions to be realised at all.

Summary
Yoroi DRep votes YES on the "Revised Cardano Summit 2026 Singapore" by the Cardano Foundation. This position reflects our support for the strategic location, the optimized budget, and the anticipated return on investment for the ecosystem. By aligning with major global industry movements, we ensure Cardano remains at the forefront of the 2030 Vision.

Rationale
Maximizing Ecosystem Visibility and Community Value

• Competitive Market Presence: It is a standard industry reality that every leading Layer 1 protocol hosts a flagship summit; Cardano’s proposal is not only competitively priced but represents a significantly more efficient spend than many of our direct peers.

• The Visibility Multiplier: Co-locating with TOKEN2049 allows us to leverage the massive concentration of international talent, developers, and media already in the city. This creates a "halo effect" where Cardano builders are positioned to capture the attention of over 25,000 external participants and potential partners.

• Community Cost-Efficiency: By anchoring the Summit to the TOKEN2049 calendar, community members can attend two of the world's largest crypto events in a single trip, significantly reducing their individual travel, lodging, and logistics expenses.

• Strategic Hub: Singapore's geographic advantage ensures that Cardano’s technical milestones are showcased within a high-density environment, providing brand exposure that would be far more costly to generate in isolation.

Proportionality and Fiscal Leanliness

• The revised proposal directly addresses concerns regarding treasury impact through a budget reduced by 22% ($550,000).

• This was achieved through intelligent streamlining, moving from three stages to two, which lowers production costs without compromising the tier-one experience required for an L1 blockchain.

• By increasing internal resource contributions to $380,000, the Foundation has reduced external vendor reliance and optimized the use of community funds.
  Importantly, this proposal is fully decoupled from EMURGO’s TOKEN2049 sponsorship, ensuring a clean and transparent funding structure.

Community Engagement and Vision 2030

• A core pillar of our support is the value provided back to the builders, specifically the inclusion of discounted tickets for community members based on on-chain activity.

• This ensures that the Summit remains accessible to the individuals who build on the network daily, keeping the event rooted in our decentralized community and the Cardano Vision 2030.

Accountability and Agreed KPIs

• Yoroi fully agrees with the proposed KPIs, which offer a clear framework for evaluating success through live demos, developer engagement, and enterprise leads.

• The commitment to full KPI transparency and smart contract-based disbursement provides the high level of accountability we demand for treasury withdrawals.

Conclusion
Yoroi fully supports the vision and execution plan for the Cardano Summit 2026 in Singapore, basing our YES vote on the strategic timing, the responsible budget reduction, and the clear focus on driving adoption for our builders.

Summary

Yoroi DRep votes ABSTAIN on the Harmonic Laboratories treasury withdrawal. This position is not a judgment on the team, but a considered view on necessity, sequencing, and responsible use of treasury resources.

Rationale

On the node implementation

Yoroi engaged directly with developers and engineers on the Gerolamo proposal, and the conversations we had surfaced genuine questions about whether TypeScript is the right foundation for a production-grade node. We hold this view with humility - we are open to hearing from others in the technical community who see it differently, and we do not consider the matter closed. What we can say is that, on the basis of those conversations, and with Amaru and Dingo already funded and progressing, we are not yet persuaded that a third alternative node represents the best use of treasury resources in this cycle.

On the smart contract language

Pebble is an ambitious undertaking, and we do not question the intent behind it. That said, our view is that the ecosystem does not require a new smart contract language at this point in time. Aiken has matured considerably and continues to gain adoption. At this point, we would rather see that momentum built upon than dispersed across parallel efforts.

A question of proportionality

At over 8 million ADA, the scale of this request warrants reconsideration. The Cardano 2030 roadmap targets two live alternative node clients, a benchmark already being worked toward. Committing this level of funding to efforts that are both experimental and largely covered by existing initiatives is difficult to support in the current cycle. We would encourage HLabs to revisit the scope and return with a revised cost that better reflects what is genuinely needed at this point in the roadmap.

Conclusion

Yoroi has considerable respect for HLabs and the work they have contributed to the Cardano ecosystem. Our decision to abstain is not a rejection of the team, instead it is a considered view on timing, scope, and proportionate use of treasury resources. We would welcome a resubmission with a revised cost, and we hope to be in a position to support a more targeted proposal from them in a future cycle.

Summary
Yoroi DRep votes YES on Cardano DeFi Liquidity Budget – Withdrawal 1, recognizing it as an initial step toward establishing the foundations for a treasury-backed DeFi liquidity initiative.
Rationale
• Phased execution design
The proposal limits this withdrawal to foundational components, prioritizing legal setup, audit readiness, and contract infrastructure before any capital deployment. This sequencing ensures key structures are in place prior to scaling.
Defined scope with ecosystem participation
The 800,000 ADA request is tied to specific deliverables, including legal entity formation, audit execution, and multisig contract deployment. Smart contract development is being contributed by ecosystem teams without direct funding, indicating alignment and shared commitment to the initiative.
• Controlled fund management framework
Use of a 5-of-9 multisignature Amaru contract introduces distributed oversight and enforces collective authorization, supporting secure and transparent handling of funds.
Conclusion
Yoroi supports proceeding with this initial withdrawal as a setup step. Progressing beyond this stage should be paired with clearer frameworks for capital deployment, improved transparency on performance, well-defined governance processes, and stronger accountability mechanisms.

Yoroi DRep votes YES on "Dingo: a Production-Grade Block Producer in Go by Blink Labs." Yoroi views this proposal as a constructive contribution to Cardano’s long-term infrastructure resilience and multi-client strategy.
Rationale
• Node diversity and resilience
Yoroi supports initiatives that strengthen network resilience by reducing dependence on a single node implementation. A Go-based node meaningfully contributes to a more robust and fault-tolerant Cardano infrastructure.
• Blink Labs’ contribution and delivery credibility
Blink Labs has demonstrated consistent commitment to Cardano through active open-source contributions and clear progress on Dingo. Their existing work provides confidence in their ability to continue delivering on this proposal.
• Alignment with Cardano’s long-term direction
Yoroi views this proposal as supportive of Cardano’s evolution toward a multi-client ecosystem and consistent with its broader 2030 strategic direction. In addition, a Go-based implementation expands accessibility, enabling a broader range of developers to engage with and contribute to core infrastructure.
Conclusion
Yoroi supports this proposal as a positive step toward broader node diversity and stronger infrastructure for the Cardano ecosystem. Yoroi looks forward to seeing Blink Labs continue building and delivering on this effort for the benefit of the wider Cardano community.

Summary

Yoroi DRep votes YES on the treasury withdrawal titled “Cardano x Draper Dragon: Orion Fund.” This decision is supported by the proposal’s potential to accelerate builder activity and ecosystem development, while allowing the community to assess progress before any future funding requests are considered.

Rationale

• Balanced approach to treasury deployment
While treasury funds should be used carefully, excessive caution can also slow ecosystem progress. Yoroi believes it is important to explore new mechanisms that can expand real demand for Cardano, while maintaining oversight and governance safeguards.

• Experienced venture partners
The initiative will be managed by Draper Dragon, part of the Draper venture network with experience supporting technology and blockchain startups. While this does not remove investment risk, it provides some basis for assessing the model through an initial phase.

• Investment model rather than a one-way grant
Unlike traditional ecosystem grants, the Orion Fund is structured as a venture-style investment vehicle where capital is expected to generate returns and flow back to the Treasury. This introduces a different mechanism for supporting ecosystem growth while aiming to strengthen long-term treasury sustainability.

• Initial phase with governance oversight
This proposal approves only the first funding stage, while any future withdrawals would require separate governance approval. This approach allows the community to review early outcomes and determine whether the model delivers meaningful ecosystem results before further treasury capital is considered.

Conclusion
Yoroi as a DRep supports the approval of this treasury withdrawal. The proposal introduces a new approach to ecosystem development that combines investment with potential capital return to the treasury. Although the outcome will ultimately depend on execution, Yoroi considers it worthwhile to allow the initiative to proceed and evaluate its results through the governance process.

Summary
Yoroi DRep votes YES on the Info Action titled “Approve Cardano Foundation as New Managing Entity of Project Catalyst.” This decision is based on the need to maintain reliable execution of ongoing Catalyst commitments.

Rationale

• Protecting delivery to funded teams
Active projects under Funds 10–14 rely on predictable milestone validation and payouts. Any pause or uncertainty in administration directly affects teams already building, which should be avoided.

• Administrative requirement, not expansion
This action fulfills a structural requirement under Catalyst Foundation Company statutes and does not introduce new funding or broaden Catalyst’s scope. It ensures previously approved commitments can be carried through.

• Clear path to avoid unnecessary delays
With no alternative ready within the required timeline, approving a capable successor reduces coordination risk and prevents operational gaps.

Conclusion

Yoroi supports this proposal as a practical step to ensure that commitments already made through Catalyst are delivered in a predictable and timely manner. The priority at this stage is not to redefine Catalyst, but to ensure that ongoing work is not disrupted by administrative uncertainty. Questions around future structure, funding, and governance should be addressed separately, once continuity of current operations is secured.

Summary

Yoroi DRep votes YES on the governance action describing the Intersect Budget Process Framework for the 2026 budget cycle and future iterations.

Rationale

• Clear reference for the ecosystem budgeting process

Recording the framework on-chain provides a shared reference for how the ecosystem budgeting cycle is expected to operate. This helps participants navigate the process with clearer expectations and reduces uncertainty around procedural steps.

• Stronger proposal structure and evaluation

The framework introduces structured proposal requirements such as strategic alignment with the Cardano 2030 pillars, defined KPIs, and work package based budgeting. These elements make it easier for DReps and the community to evaluate initiatives based on measurable outcomes and comparable data.

• Transparency in execution and oversight

The outlined execution model, including milestone based payments and oversight through multi party smart contract controls, supports transparent and accountable use of treasury funds once proposals are approved.

Conclusion

Yoroi supports documenting this process so that ecosystem budgeting can operate with clearer structure, transparency, and accountability. For these reasons, Yoroi votes YES.

Summary

Yoroi DRep votes YES on “Amaru Treasury Withdrawal 2026.” This withdrawal represents a defined progression from foundational development toward production-grade readiness with embedded accountability safeguards.

Rationale

• Demonstrated delivery and treasury discipline

The team delivered tangible foundational progress in the prior funding cycle and returned unused funds, signaling responsible stewardship of treasury resources.

• Defined step toward production readiness

The 2026 plan focuses on relay completion, block production capability, and an external security audit, marking a clear progression toward mainnet-grade infrastructure.

• Resilience with governance safeguards

A second interoperable node enhances network resilience, while milestone-based controls and a volatility buffer with refund commitments maintain appropriate treasury protections.

Conclusion

Yoroi supports this structured and accountable continuation toward strengthening Cardano’s infrastructure. With demonstrated delivery in the prior cycle and defined safeguards around treasury usage and production readiness, Yoroi views this proposal as a responsible step forward and supports it.

Summary

Yoroi DRep votes NO on the proposed 300M ADA Net Change Limit for Epochs 613–713. While we understand the intention to reinforce fiscal discipline due to market situation, we believe reducing the ceiling at this stage may be premature given the timeframe and current ecosystem dynamics.

Rationale

• Measurable accountability through 2030 KPIs

With the 2030 Cardano KPIs now in place, treasury allocations can be assessed against clearer long-term targets. Yoroi believes spending discipline should be reinforced through KPI alignment, proposal-level scrutiny, and milestone-based controls rather than by tightening the structural ceiling itself.

• Timeframe concern and market variability

The 17-month window increases uncertainty. In a lower ADA price environment, fiat-denominated costs require more ADA, and a tighter cap could unintentionally constrain legitimate initiatives that arise during this period.

• Structural flexibility for ecosystem priorities

The Net Change Limit defines a maximum boundary, not a spending target. Maintaining sufficient flexibility at the structural level allows governance to respond to critical infrastructure and ecosystem needs while continuing to apply strict oversight at the proposal level.

Conclusion

Yoroi supports responsible treasury management and clear accountability standards. However, given the duration of the period and current conditions, Yoroi considers a reduction to 300M to be premature and therefore votes No.

Summary

Yoroi DRep votes YES on the proposal to increase Plutus memory unit limits for transactions and blocks. The adjustment improves smart contract flexibility and user experience without introducing material risk to network stability.

Rationale

• Developer constraint relief with low risk
Increasing memory limits allows Plutus scripts to perform more meaningful work within a single transaction, reducing forced transaction splitting and improving developer and user experience without reflecting capacity pressure on the network.

• Well tested and performance safe
Benchmarking by IOE’s Performance and Tracing team, along with validation on Preview and PreProd testnets, confirms that the proposed increases preserve Praos timing guarantees and maintain sufficient performance headroom.

• Governance compliant and incrementally staged
The proposal is recommended by Intersect’s Parameter Committee, ratified by the Technical Steering Committee, and fully aligned with Constitutional guardrails. As the first step of a staged approach, it does not pre-commit the ecosystem to future increases, which must be evaluated independently.

Conclusion
Yoroi supports this proposal as a safe, well tested parameter update that improves usability while maintaining Cardano’s reliability and operational stability.

Summary

Yoroi DRep votes YES on Cardano DeFi Liquidity Budget – Withdrawal 1, as the initial withdrawal under the approved Stablecoin DeFi Liquidity Budget.

Rationale

• Proportionate withdrawal
This action withdraws 500,000 ADA as an initial tranche, representing a controlled and incremental use of the treasury focused on setup rather than liquidity deployment.

• Defined use of funds with security safeguards
The requested amount is allocated to specific preparatory work, including legal structuring, administrative smart contract development, and a 75,000 ADA independent audit, reducing operational and security risk before scaling.

• Strong on-chain controls and oversight
All funds are managed through an Amaru smart contract with a 5 of 9 multisignature approval requirement, milestone-based disbursements, and continued dRep and tDAO oversight.

Conclusion
Yoroi supports this withdrawal as a measured implementation step that remains consistent with the scope and intent of the Stablecoin DeFi Liquidity Budget previously approved by Yoroi, and therefore votes Yes.

Summary
Yoroi DRep votes YES on the proposal to name Protocol Version 11 the van Rossem Hard Fork, honoring Max van Rossem’s meaningful contributions to Cardano’s governance and community.

Rationale

• Alignment with Cardano Tradition
Cardano has an established practice of naming hard forks after individuals who have made significant contributions to the ecosystem. This proposal is consistent with that tradition.

• Recognition of Governance Contributions
Max van Rossem played an important role in Cardano’s governance development, including constitutional work, governance discussions, and community representation. Recognizing his impact through this naming is appropriate and respectful.

Conclusion
Yoroi supports this proposal as a fitting tribute that aligns with Cardano’s values and governance culture, and therefore votes YES.

Summary

Yoroi DRep votes NO on DeltaDeFi: Hydra Trading Infrastructure Budget (₳1,500,000). We appreciate the DeltaDeFi team’s continued efforts and commitment to building on Cardano. However, at this stage, we are not convinced that the proposal clearly demonstrates tangible, user-facing benefits or readiness for Treasury-level support.

Rationale

• Unclear Benefit to ADA Holders and End Users

While positioned as infrastructure, the proposal does not clearly explain how this directly benefits ADA holders in practice. Improved infrastructure alone does not guarantee better user outcomes, and the link between this DEX’s activity and broader ecosystem value remains unclear.

• Insufficient Clarity on Trust Model and User Risk

Key aspects of the Hydra setup remain unclear from a user perspective, including custody assumptions, failure scenarios, and protections if operators are unavailable. This makes it difficult for users to assess risks and trade-offs.

• Outcomes Cannot Be Reliably Evaluated Within the Proposed Timeframe

Six months may be sufficient to deliver the product, but it is too short to assess real adoption, sustained liquidity, or long-term relevance. As a result, it is unclear whether outcomes that matter most to users, such as liquidity, reliable execution, and user growth, can be meaningfully evaluated.

Conclusion

Yoroi believes that at this funding level, proposals benefit from clearly articulated user-facing value, trust assumptions, and measurable outcomes. Further clarity in these areas would help support a stronger case for Treasury funding in the future.

Summary

Yoroi votes YES on the Info Action titled “Cardano 2030: Vision, Mission, Strategy Framework and KPIs” as an initial step toward better alignment and more strategic decision-making across the ecosystem.

Rationale

A starting point for shared direction

This proposal serves as a meaningful foundation for aligning community efforts around a common long-term outlook. As governance responsibilities increasingly sit with DReps, having a shared strategic reference helps make voting decisions more intentional.

Signals a shift toward real-world impact

The focus on usage-based core KPIs such as transactions, active wallets, and total value-locked reflects a positive move toward measuring real adoption and ecosystem relevance, rather than progress defined purely by technical delivery.

Guidance, not enforcement

As a non-binding Info Action, the framework informs decisions without constraining them. While the details can be refined over time, treating this as an initial step allows the community to move forward with a shared direction while remaining open to iteration.

Conclusion

Overall, Yoroi supports this proposal as a constructive first step toward a shared long-term strategy that helps DReps make more strategic and explainable decisions, while leaving room for improvement as the ecosystem evolves. As this framework is iterated on, clearer articulation of nearer-term KPI expectations would further enhance its usefulness for evaluating proposals within individual budget cycles.

Summary

Yoroi DRep votes YES on the Net Change Limit (NCL) 2026 proposal, which sets a maximum treasury withdrawal limit of 350,000,000 ADA for the specified period. We support establishing a clear and well-defined limit to enable transparent and predictable governance for ADA holders.

Rationale

Purpose and Scope of the Net Change Limit

This proposal establishes the maximum amount that may be withdrawn from the treasury during the specified period. Approval of the NCL does not authorize spending, but instead defines the boundary within which individual treasury withdrawal proposals may be evaluated and voted on.

Clarity of Intent and Context for the Proposed Amount

The proposed limit takes into account a previously approved Budget Info Action, namely Stablecoin DeFi Liquidity Budget. Acknowledging these prior approvals helps clarify that the proposed NCL is intended to accommodate known commitments, rather than signal automatic or unrestricted spending.

Timeline and Community Predictability

Aligning the NCL period with the mid-year budget cycle improves predictability around when treasury-related decisions are likely to occur. This makes it easier for the Cardano community to follow governance developments and engage with the process in a timely manner.

Conclusion

Yoroi supports this Info Action as a clear and reasonable guardrail that allows treasury governance to proceed in a predictable and accountable manner. We thank the Budget Committee for preparing this proposal and supporting the continuity of treasury governance.

Summary

Yoroi DRep votes YES on the governance action to adopt Cardano Constitution v2.4. This decision reflects our assessment that the revisions in this version directly address the concerns we raised in v2.3 and restore clarity in key areas of governance and accountability.

Rationale

• Audit Requirements

The proposal reverts audit-related provisions to the v1.0 wording, resolving our previous concerns regarding ambiguity over responsibility, funding, and execution. Returning to language that is already operational and familiar within the ecosystem removes the uncertainty introduced in v2.3.

• Custodian Consent and ADA Ownership

Revisions made in v2.3 around custodial authority and terminology have been rolled back. The restoration of “ADA owner” terminology and the reversion of custodial provisions to their v1.0 form directly address our concerns around user consent and the potential concentration of governance power among custodial entities.

Conclusion

Yoroi’s YES vote reflects recognition that the proposal has substantively responded to previously raised concerns and represents a constructive step forward from the current v1.0 Constitution. We view the Constitution as a living document that will continue to benefit from iterative refinement, and we thank Yuta for his responsiveness, openness to feedback, and continued leadership in guiding this process.

Summary

Yoroi DRep votes NO on the governance action titled “Add Constitutional Committee Member – Christina.” This decision reflects a cautious view on how risk mitigation measures should be shaped through broader ecosystem input.

Rationale

Election scope and mandate

The Intersect snap election was held to select one replacement Constitutional Committee member. Cardano Curia was chosen through that process, and the outcome does not provide a mandate to appoint an additional member.

Ecosystem alignment before structural change

If the intention is to mitigate operational risk by operating above the minimum committee size, this should be treated as a governance design question that involves wider community perspectives. Rather than proceeding through an ad hoc addition following a narrowly scoped election, an Info action could be submitted first to gather ecosystem feedback, evaluate alternatives, and build shared expectations before any New Committee governance action is proposed.

Conclusion

Yoroi DRep votes NO on this proposal and encourages a community-informed, ecosystem-aligned approach before making structural changes to the Constitutional Committee.

Summary

Yoroi DRep votes YES to the “Add Constitutional Committee Member” governance action, bringing the Constitutional Committee (CC) back to full strength, allowing Cardano on-chain governance to move forward.

Rationale

CC back to working capacity
After a recent resignation, the committee fell under the minimum size set in protocol. With only six members, the CC cannot approve most governance actions. This vote fixes that gap by restoring the required member count.

Respecting the snap election outcome

Intersect ran a snap election to fill the empty seat, and Cardano Curia emerged as the top choice. Yoroi supports recognizing that result on-chain and is confident that the new member can uphold the constitutional role with integrity.

Conclusion

Yoroi DRep votes YES because restoring the CC is urgent for governance continuity, and the chosen member reflects a valid community decision.

Summary

Yoroi DRep votes YES on the treasury withdrawal “Withdraw ₳70,000,000 for Cardano Critical Integrations Budget.” This withdrawal is the needed step to unlock funding for critical integrations already endorsed by the community.

Rationale

From community approval to execution

Yoroi views this withdrawal as the concrete follow-through on funding that DReps have already supported via the related Budget Info Action. The swift and decisive backing for that earlier signal, alongside the community-approved extension of the 2025 NCL with similarly strong DRep support, shows the ecosystem is aligned on this priority and ready to move into delivery. Critical integrations such as stablecoin, oracle connectivity, cross-chain access, institutional-grade custody, wallet infrastructure, and on-chain analytics are essential building blocks for deeper liquidity, stronger DeFi and RWA activity, and long-term adoption on Cardano.

Enhanced transparency strengthens confidence

While the governance and oversight model stays consistent with the Budget Info Action, the treasury withdrawal increases trust by delivering the high-level allocation breakdown that the BIA deferred and by directly addressing DRep feedback on transparency within NDA limits. This reduces uncertainty around how the ₳70M will be allocated and supports stronger accountability as execution begins.

Conclusion

Yoroi DRep votes YES because this withdrawal will fund critical integrations that the community has already backed through the Budget Info Action, which Yoroi also supported. The Treasury Withdrawal strengthens confidence by providing a clear, high-level budget breakdown and directly addressing DRep transparency concerns, making execution feel more accountable.

Summary

Yoroi DRep votes YES on the 2025 Net Change Limit Extension Info Action. We support this as a necessary measure to ensure that ongoing Treasury processes remain uninterrupted and constitutionally compliant.

Rationale

Critical Integrations Budget timing

The Net Change Limit (NCL) sets a withdrawal limit for the Cardano treasury over a defined period, and the current NCL expires at the conclusion of Epoch 604. Extending it by eight epochs will help keep the current limit active long enough for the Critical Integrations Budget to be enacted within the budget that the community has approved, rather than being pushed into the next NCL period.

Maintaining the treasury safeguard

The extension does not raise or reset the ₳350M limit. It only extends the timeframe, with prior spending still counted inside the same ceiling. This keeps treasury discipline exactly as the community approved it.

A healthy governance collaboration

Yoroi gives credit to the proposers for moving quickly on this on-chain safeguard. It reflects a strong alignment between the founding entities and the community, showing that we support each other when governance requires a timely bridge.

Conclusion
Yoroi DRep supports this extension because it upholds the Critical Integrations Budget timeline, maintains the current NCL cap, and demonstrates healthy governance collaboration. Therefore, we vote YES.

Summary

Yoroi DRep votes YES on the Cardano Critical Integrations Budget Info Action. We believe this proposal is the direct and timely way to close Cardano’s critical integration gaps and unlock the next phase of ecosystem growth.

Rationale

Ecosystem Critical Integrations

Yoroi believes this proposal establishes a strategic integration fund to onboard critical infrastructure Cardano needs for large-scale economic activity and external liquidity integration. The scope targets tier one stablecoins, oracle networks, cross-chain bridges, institutional digital asset custody and wallet infrastructures, and on-chain analytics platforms.

Impact on Adoption

These integrations strengthen Cardano’s ability to attract external capital, support advanced DeFi use cases, and accelerate efforts in Real World Assets and DePin. They also support Cardano’s path to profitability through stronger fee-generating activity.

Governance, safeguards, and urgency

The funds will be administered by Intersect under Article IV through publicly auditable addresses designated exclusively for this proposal and delegated to the Auto Abstain DRep, with milestone-based drawdowns, bi-annual reporting, and annual independent audits, which Yoroi believes are aligned with the Cardano Constitution and its requirements for transparent treasury administration. With negotiations already mature and the Net Change Limit expiring on 4 January 2026, progressing this budget now is timely.

Conclusion

Yoroi DRep supports this Budget Info Action because it is necessary, well-structured, and time-sensitive. Therefore, we strongly vote YES.

Yoroi DRep votes YES on the governance action titled “Reimburse Ikigai Info Governance Action Deposit.”
The original Ikigai Info governance action was submitted soon after Chang, during the very early phase of on-chain governance, and the 100,000 ADA deposit was lost because of a node bug, not the user's fault.

The Cardano community has repeatedly expressed support for reimbursing this deposit once technically possible, which aligns with fairness toward early governance participants.

However, this proposal does not clearly state:

Who exactly is submitting the request now.

What is their relationship to the original Ikigai proposer.

Without this information, there remains a possibility (even if small) that the original author may have chosen to treat the deposit as a voluntary contribution to the Treasury.

The proposal also requests an additional 3,000 ADA for lost staking rewards, Midnight airdrop eligibility, and other opportunity costs, but provides no methodology for how this number was derived.
Conclusion:

Yoroi DRep decided to vote YES on this budget info action to reflect the community’s intent to fairly reimburse funds lost due to a protocol bug. However, we expect the following Treasury Withdrawal to clearly confirm the original proposer’s consent, clarify the claimant’s identity and relationship to them, and clarify how the additional 3,000 ADA was calculated.

Summary
Yoroi DRep votes YES to support this Info action by Cardano Foundation to secure the .ada and .cardano top-level domains (gTLDs).

Rationale
Yoroi appreciates the Cardano Foundation’s initiative in taking proactive steps to protect and strengthen Cardano’s digital identity. This proposal represents a practical and forward-looking move that benefits the entire ecosystem.

Protecting Cardano’s Digital Identity:
Securing the .ada and .cardano domains ensures that Cardano’s name and brand are protected from misuse or external control, reinforcing trust and long-term credibility across the ecosystem.

Ecosystem Benefit:
Cardano Foundation’s decision to fund this initiative using its own resources demonstrates accountability and stewardship. This approach safeguards community resources while still delivering an ecosystem-wide benefit.

Conclusion
Yoroi DRep votes YES with confidence and appreciation for this responsible, community-minded initiative. The action protects Cardano’s brand, strengthens its digital footprint, and sets a positive precedent for proactive, transparent governance decisions that serve the ecosystem’s long-term interests.

Summary

Yoroi votes ABSTAIN on the Budget Info Action to compensate Constitutional Committee members. We are strongly supportive of CC compensation, as outlined in the Cardano Constitution. However, several aspects of this proposal require further clarification before it can be fully endorsed.

Rationale

Yoroi strongly supports ensuring that CC members receive appropriate compensation, consistent with the Constitution’s provision that CC members may be compensated for their efforts. Their constitutional responsibilities are central to maintaining Cardano’s governance and long-term system integrity.

However, while we fully agree with the principle, the requested 1,000,000 ADA lacks a clear explanation of how the total was derived and what underlying assumptions it represents. Without this clarity, we find it challenging to understand the intended scope, proportionality, and sustainability of the model.

Yoroi believes that a structured discussion among relevant stakeholders would be valuable to mature the proposal. Such a forum would help clarify objectives, align expectations, and establish shared assumptions before progressing toward a Treasury Withdrawal.

In conclusion, Yoroi supports the constitutional principle that CC members may be compensated but abstains on this version to encourage clearer details and aligned expectations before funding is requested. We also believe a focused stakeholder forum would help consolidate information and refine the assumptions needed for a well-structured compensation model.

Potential Discussion Points for the Forum:

To support the development of a clear and shared compensation model, Yoroi suggests that a dedicated stakeholder forum could explore the following topics:

How should compensation be structured to incentivize timely and high-quality rationalization for proposers?

What mechanisms should be used to determine appropriate compensation levels?

On what criteria should payment be triggered?

Should compensation be paid in ADA or in stablecoins?

Summary

Yoroi DRep votes YES on the governance action to fund “₳5M Loan for Cardano’s Global Listing Expansion – Powered by SNEK.” This decision reaffirms our previous support expressed during the Budget Info Action stage, with the rationale below.

Rationale

Pioneering Loan-Based Model:
This proposal introduces a new standard of fiscal responsibility within Cardano governance, establishing a repayable Treasury loan with a defined 2.44% annual interest rate. It represents a shift toward sustainable capital deployment, ensuring that community funds are productively used and returned to the Treasury for future growth.

Strong Execution Record and Proven Impact:

The Snek Foundation’s past success in self-funding Tier 1 exchange listings, on Kraken, Crypto.com, and KuCoin, demonstrates both capability and commitment. The foundation’s ability to deliver tangible outcomes reinforces trust in its capacity to execute on this expanded initiative responsibly.

Transparent Oversight and Smart Contract Administration:

The proposal’s use of Intersect’s audited treasury smart contract framework, along with milestone-based disbursements and third-party audits, provides a high degree of transparency and accountability. This structured oversight gives the community confidence that funds will be managed and repaid in alignment with Treasury governance standards.

Conclusion

Yoroi DRep supports this Treasury Withdrawal as a continuation of its earlier endorsement. We trust that the Snek Foundation will uphold the community’s confidence by managing these funds with integrity, transparency, and strong execution, delivering tangible results that benefit not only SNEK holders but the broader Cardano ecosystem.

Summary

Yoroi DRep votes NO on the governance action to adopt Cardano Constitution v2.3.

Rationale

Yoroi would like to sincerely thank Yuta for the time, care, and consistency he’s shown in leading the continued evolution of the Cardano Constitution. The community benefits greatly from these ongoing discussions and refinements, and we recognize how much thoughtful work went into v2.3.

That said, after careful review, we believe several revisions in this version could unintentionally reduce clarity or weaken existing safeguards that protect Cardano’s decentralized decision-making process.

Audit Requirement:

The new phrasing around audits (“appoint independent auditors”) creates practical uncertainty over who is responsible for selection, funding, and timing. The previous version already offered a clear and effective standard through Intersect’s audit process, which ensured accountability without procedural confusion.

Custodian Consent:

Expanding the clause to let custodians “vote or delegate” on behalf of ADA holders, combined with the term shift from “owners” to “holders,” introduces potential ambiguity over user consent and could concentrate voting power among large custodial entities.
Each of these points could likely be addressed through clarification and community alignment, but together they present enough risk to justify a cautious NO vote at this stage.

Conclusion

Yoroi deeply appreciates Yuta’s continuous effort to make Cardano’s Constitution more complete and approachable. This No vote is not a rejection of that work, it’s a call for more dialogue before codifying these specific changes. We’re very happy to work together and help facilitate open discussion toward a future version that strengthens both clarity and decentralization in Cardano’s governance.

Summary:

Yoroi DRep votes YES on the governance action to fund GovTool – Treasury Withdrawal for 12 months of active maintenance and development, following the previously approved Budget Info Action (gov_action1n5sn54mgf47a7men2ryq6ppx88kta4wvenz2qkl4f9v6ppje8easqxwm88m) for ₳1.15M.

Rationale:

This withdrawal faithfully aligns with the intent of the approved Info Action that Yoroi DRep supported. It maintains the same scope, community-owned model, and transparent execution through Intersect’s smart contract framework.

The proposal now includes clearer delivery assurance, milestone verification, and oversight through independent third parties, strengthening accountability and constitutional compliance.

Conclusion:

Yoroi DRep reaffirms its support for GovTool as essential governance infrastructure and votes YES, recognizing the improved operational framework and sustained alignment with Cardano’s principles of openness and community participation.

Summary

Yoroi DRep decides to ABSTAIN on the info action titled Cardano 2030 Vision & Strategy.

Rationale

Yoroi values the effort to outline Cardano’s long-term vision, but voting now could lead to voter fatigue since an official governance action is already planned for the end of October.

Proceeding with multiple overlapping actions risks confusing delegators and diluting meaningful feedback.

Yoroi believes it is more effective to focus community attention on the finalized and official version, where feedback will have the greatest impact.

Summary

Yoroi DRep votes YES on the governance action to fund Stablecoin Liquidity Fund (50M ADA).

Rationale

Yoroi believes that deeper and more reliable stablecoin liquidity will strengthen the reliability of DeFi protocols on Cardano and making the ecosystem more dependable for both new users and long-term participants

Transparency matters. With a tDAO and dRep oversight, plus regular audits and open reporting, this fund gives the community clear visibility and control.

Instead of spreading liquidity too thin, Yoroi values the focus on a few protocols per category, which creates a bigger impact and helps Cardano compete more effectively.

Conclusion

Yoroi supports this initiative as a practical and timely step to strengthen DeFi on Cardano, making it more accessible, trustworthy, and impactful for the community.

Summary

Yoroi DRep votes to ABSTAIN on the governance action to fund Cardano in Oceania: A community-led strategic plan for investing in growth.

Rationale

We appreciate the proposer’s transparency and the good-faith action to reimburse the ₱ 100,000 Ikigai deposit, demonstrating accountability to the community.

While regional engagement is important, the proposal’s focus on events, hackathons, and community activities seems better suited for Project Catalyst. Catalyst provides a collaborative environment to test, refine, and scale these types of initiatives, giving them the best chance to thrive and deliver meaningful impact.
For these reasons, Yoroi DRep chooses to abstain from this governance action.

Summary

Yoroi DRep votes YES on the governance action to fund “₳5M Loan for Cardano’s Global Listing Expansion - Powered by SNEK.”

Rationale

New model of accountability: This is the first loan-based Treasury request, adding a new dimension to governance by complementing the existing grant-based model, with repayment at 2.44% APR to strengthen fiscal responsibility.

Proven execution capacity: SNEK has already self-funded $4.5M and successfully secured Tier 1 listings on Kraken, Crypto.com, and KuCoin, demonstrating credibility and delivery track record.

Ecosystem-wide benefit: Expanding SNEK listings also expands ADA liquidity, increases Cardano’s visibility in mainstream markets, and builds reusable legal/technical frameworks for future Cardano native tokens.

Conclusion

Yoroi DRep supports this governance action as a step forward in responsible Treasury usage. In the next Treasury Withdrawal governance action, however, we expect the proposers to provide a clear repayment plan and more detailed success metrics to ensure accountability and measurable ecosystem impact.

Yoroi DRep votes to ABSTAIN on the governance action titled Cardano Blockchain Ecosystem Constitution v2.0.
Rationale

We value the effort to improve the Constitution, especially the clarifications and cleanup of definitions.
At the same time, removing the budget info action weakens financial transparency around treasury withdrawals.

The changes to the auto-abstain safeguard reduce clarity on its role, and these updates weren’t broadly discussed with the community. The proposal moved on-chain while feedback was still being raised, signaling that consensus has not yet been reached

Conclusion
Abstaining allows Yoroi DRep to recognize the improvements made, while also signaling that more discussion and ecosystem input are needed before proposing such important constitutional changes. We encourage continued dialogue and active participation from all stakeholders to build stronger alignment for future updates.

Summary
Yoroi DRep votes NO on the governance action to fund the proposal titled Withdraw ₳5M for Cardano's Global Listing Expansion - Powered by Snek

Rationale
The proposal highlights a proven and driven team with a history of delivering Tier 1 listings and building CNT adoption. These contributions have brought visibility to Cardano that is rare among community-led projects.
The current request, however, lacks a clear funding structure that ensures tangible returns for the ecosystem or a framework that other projects can directly reuse. Treasury resources should prioritize proposals that offer both specific deliverables and lasting community benefits.

Conclusion
We encourage Snek Foundation to return with an updated plan, starting with an info budget action as defined in the constitution, which establishes ecosystem-wide benefits, and includes mechanisms that provide lasting value beyond a single asset.

Summary

Yoroi DRep votes NO on the governance action to fund the Cardano Global Listing Expansion initiative by the Snek Foundation.

Rationale
The proposal highlights a proven and driven team with a history of delivering Tier 1 listings and building CNT adoption. These contributions have brought visibility to Cardano that is rare among community-led projects.

The current request, however, lacks a clear funding structure that ensures tangible returns for the ecosystem or a framework that other projects can directly reuse. Treasury resources should prioritize proposals with both specific deliverables and lasting community benefits.

The listed withdrawal amount of 5 ADA is clearly insufficient for the stated goals, indicating the need for a corrected submission.

Conclusion
We encourage the proposers to return with an updated plan that outlines realistic costs, defines ecosystem-wide benefits, and includes mechanisms that provide lasting value beyond a single asset. Yoroi would welcome the opportunity to review such a resubmission on its merits.

Summary

Yoroi DRep votes YES on the governance action to ratify the newly elected Constitutional Committee (CC), which will replace the Interim Constitutional Committee (ICC) at the end of epoch 580.

Rationale
The election process was transparent, accessible, and independently verified, ensuring its credibility.
The varied term lengths for members help balance stability with regular opportunities for new participation.
This action ensures a smooth transition with no governance gap after the ICC’s term ends.

Conclusion
Yoroi looks forward to the contributions of the new CC and trusts they will strengthen Cardano’s governance for the benefit of the entire ecosystem.

Summary

Yoroi DRep casts a NO vote on the Budget Info governance action titled Tempo for Cardano Governance – Maintenance & Development Budget for 2025.

Rationale

Yoroi DRep values the spirit behind Tempo. Its focus on independent infrastructure and commitment to creating smoother, mobile-first governance experiences is something we believe the Cardano ecosystem needs more of. That said, this particular proposal lacks the transparency and structure required for us to signal support at this time.

There is limited visibility into the team behind the project, no clear accountability framework, and no explanation of how Selfdriven will govern and report on the use of treasury funds.

We see the potential in Tempo.Vote, but cannot endorse this iteration. Yoroi DRep encourages the team to resubmit with a more transparent, community-accountable approach so the broader Cardano ecosystem can confidently evaluate and support it.

Summary:

Yoroi DRep votes YES on the governance action to fund Cardano GovTool – Budget for 12 months of full active maintenance and development.
Rationale:

GovTool is a critical, open-source governance infrastructure that supports the full on-chain process from DRep registration to proposal submission, voting, and outcomes. It aligns closely with Cardano’s CIPs, community-first ethos, and does not pursue commercial interests.
The team responded transparently and promptly to recent bugs, expanding test coverage, refactoring outdated modules, and improving debugging workflows. These improvements, combined with a growing contributor base, reflect clear lessons learned from past challenges.

Conclusion:
Yoroi DRep acknowledges that GovTool still has areas for improvement, particularly in delivery structure and operational clarity. However, we support this proposal because we believe in its mission, its community alignment, and its evolving commitment to reliability and transparency.

Summary
Yoroi votes YES on the governance action to fund PyCardano.

Rationale

Broadened access – PyCardano helps expand Cardano’s developer base by enabling Python developers to interact natively with the network.

Proven traction – PyCardano has strong, verifiable community adoption.

Sustained reliability – This proposal ensures continued maintenance aligned with future upgrades like Leios and Midnight.

Yoroi supports this as a strategic investment in developer inclusivity and tooling resilience.

Summary
Yoroi votes Yes for AdaStat.net Cardano blockchain explorer with supporting rationale below.

Rationale

• Reliable infrastructure. AdaStat is a long-running and trusted tool in the Cardano space, used regularly by SPOs, DReps, and community members.

• Governance visibility. The explorer offers practical tools that support Cardano’s evolving governance process.

• Privacy-first design. No ads, tracking, or monetization—aligning well with Yoroi’s commitment to user security and autonomy.

Yoroi supports this proposal to maintain ecosystem resilience, improve governance transparency, and empower users through better access to data.

Summary
Yoroi votes YES on the Hardware Wallets Maintenance proposal submitted by Vacuumlabs.

Rationale

Securing Long-Term Wallet Compatibility
This proposal safeguards Cardano users by ensuring that Ledger, Trezor, and Keystone remain up-to-date and compatible with future protocol changes. Regular updates reduce the risk of broken functionality and improve the overall security posture.

Trusted Track Record
Vacuumlabs has handled hardware wallet development for more than seven years and has proven its capabilities in doing so. Their ongoing maintenance work is essential for further advancement of developer tooling and ecosystem trust.

Developer Support and Ecosystem Resilience
By covering not just firmware updates but also developer support and audit coordination, this proposal directly enhances the stability and usability of Cardano’s hardware wallet ecosystem. That’s especially important for DeFi and long-term users who rely on these secure signing tools.

Summary
Yoroi supports the UTxO RPC proposal and votes YES on this governance action.

Rationale

Developer Infrastructure Backbone
UTxO RPC simplifies blockchain development and enhances interoperability for dApps, thereby lowering the barrier to entry for new builders in the Cardano ecosystem.

High Utility & Adoption
Already in use by key projects, such as Amaru, which we also support, UTxO RPC has demonstrated real value within the Cardano ecosystem. Continued funding will ensure these integrations stay robust and evolve alongside the network.

Open Source & Ecosystem Collaboration
Yoroi values its transparent, community-driven development model, which ensures the tool continues evolving with input from across the Cardano community.

By supporting UTxO RPC, Yoroi encourages infrastructure that drives real-world utility and makes Cardano more accessible to developers globally.

Summary
Yoroi as a DRep votes YES on the governance action titled "Pallas: Sustaining Critical Rust Tooling for Cardano."

Rationale

Foundation for Rust-Based Ecosystem: Pallas provides critical Rust-native tooling that supports Cardano developers in building faster and more efficiently. Projects like Aiken, Lucid, and Mithril already rely on it, making its maintenance essential to sustaining ecosystem innovation.

High Open-Source Value: With over 591 commits and contributions from nearly 40 developers, Pallas is an exemplary open-source project that reduces technical complexity for developers, fosters community collaboration, and supports long-term ecosystem health.

Strengthens Developer Infrastructure: Ensuring the continued evolution of Pallas supports better development pipelines and a robust foundation for current and future Rust-based applications in Cardano. Yoroi believes that supporting this initiative directly improves the experience and performance of the ecosystem’s dApps and services.

For these reasons, Yoroi proudly supports this governance action.

Summary
Yoroi votes YES on the governance action to fund ZK Bridge administered by Intersect.

Rationale

Interoperability boost – This proposal addresses a critical gap by enabling trustless cross-chain interactions, which could drive both liquidity and user expansion for Cardano.

ZK-native advantage – A modular ZK bridge positions Cardano to catch up with and eventually rival ecosystems like Ethereum in privacy and scalability features.

Strong team backing – Led by Eryx, a team with deep expertise in zero-knowledge cryptography and Aiken, the project shows strong potential for timely and reliable delivery.

Conclusion
Despite the complexity, Yoroi sees this as a strategically important step to strengthen Cardano’s Layer 2 future.

Summary

Yoroi votes YES on the governance action to support the Cardano Product Committee: Community-driven 2030 Cardano Vision and 2026 Roadmap Insights Collection through workshops and structured product research.

Rationale

Brings focus to product-market fit:

Establishes a research-based foundation to better understand real user needs, making Cardano more competitive and impactful.

Enables an inclusive, community-shaped strategy:

Empowers stakeholders across regions to contribute directly to Cardano’s future vision through open consultations and workshops.

Strong execution capability:

The Intersect Product Committee has already demonstrated leadership in organizing consultations and aligning ecosystem needs, making them well-suited to scale this initiative.

Yoroi supports this proposal as a step toward providing clarity and a strong community voice in guiding Cardano's long-term direction.

Summary
Yoroi supports the “Cardano Ecosystem Pavilions at Exhibitions” proposal as part of Cardano’s marketing expansion based on the rationale below

Rationale

Ecosystem exposure.
Co-funded pavilions offer more projects a chance to be seen and heard on global stages.

Collaborative impact.
Works in synergy with other funded event proposals, creating network effects and stronger outreach.

We view this budget proposal as a valuable step toward enhancing Cardano’s coordinated visibility across diverse regions and audiences.

Summary
Yoroi as DRep votes YES on the governance action to fund High-yield RWA Asset for Cardano: Tokenized Real Estate.

Rationale

Driving TVL Growth through New Asset Classes:
By introducing a stable, asset-backed investment option, this project diversifies Cardano’s DeFi ecosystem and provides Yoroi users with new, credible ways to lock value, contributing directly to an increase in Cardano’s overall TVL.

Demonstrating Cardano-Aligned Principles:
This project reflects the core principles of the Cardano ecosystem through its open-source nature, commitment to reinvesting into the treasury, and strong emphasis on transparency and inclusiveness.

Confidence in execution:
Haus has a working product, a sizable waitlist, and regulatory groundwork already in motion. Yoroi is optimistic about its ability to deliver and help grow Cardano's RWA segment.

Founders with Track Records of Billion-Dollar Outcomes:
Siddarth (CEO) and Rakesh Pullabhatla (COO) are seasoned operators with leadership experience at Microsoft, Amazon, Google, and Apple. Together, they’ve led IPOs, private equity exits, and built multi-billion-dollar businesses across AI, hardware, and blockchain.

Advisors Anchored in Real Estate and Blockchain:
Eric Sussman (UCLA Professor) brings $2B+ in real estate experience and leads Clear Capital ($1.2B AUM). Ryan Terribilini has held senior roles at Algorand Ventures and Ripple Labs, with deep expertise in blockchain ecosystems.

Summary
Yoroi DRep supports the governance action to fund zkFold ZK Rollup based on the rationale below

Rationale

Strategic infrastructure: zkFold would complement Hydra and Mithril to form a more complete L2 stack, boosting scalability and competitiveness.

High-potential technology: ZK rollups are among the most promising Layer 2 technologies in the blockchain space, offering scalability without compromising decentralization.

Builder commitment: The team is already self-funding and developing a testnet, showing strong initiative and delivery potential.

Summary
Yoroi as DRep votes YES on the governance action to fund Blockfrost Platform Community Budget Proposal based on the rationale below.

Rationale

Alignment with Decentralization: This initiative reduces reliance on a centralized API provider, empowering SPOs through the Icebreaker network.

Builder-Centric Impact: As a widely adopted platform, Blockfrost plays a key role in supporting developers. This proposal enhances that reliability.

Layer 2 Integration: The inclusion of Hydra-powered micropayments supports efficient scaling and introduces a future-ready monetization path.

We believe this proposal directly advances Cardano’s technical goals and decentralization principles. Yoroi encourages ongoing delivery transparency and metric reporting as the program scales and has voted Yes.

Summary
Yoroi as DRep votes YES on the governance action to fund Expanding Stablecoin / Cardano Native Asset Support / Fiat Ramps.

Rationale

Improved access to Cardano-native stablecoins: By expanding USDA’s presence on exchanges, OTC desks, and fiat ramps, this proposal directly tackles long-standing gaps in liquidity and accessibility, especially in frontier and emerging markets.

Unlocking real-world utility: We support the effort to integrate USDA into broader payment networks, including B2B settlements, payroll, and remittances, which align with Cardano’s mission to bridge traditional and decentralized finance.

Confidence in delivery and milestones: Yoroi is aware of Anzens’ capabilities and experience in global payments infrastructure. With a milestone-based structure and clear deliverables, we are optimistic that the team can execute effectively and with accountability.

Summary
Yoroi votes YES on the governance action to fund the Unveiling the First Unified Global Events Marketing Strategy for Cardano proposal.

Rationale

• Strengthens Cardano’s global presence:
  Brings unified, professional branding to global blockchain events, improving visibility and perception.

• Targets developer and institutional engagement:
  Focused outreach can attract partnerships, adoption, and new talent into the ecosystem.

By voting YES, we see this as a timely investment to reinforce Cardano’s identity in a competitive space.

Summary

Yoroi votes YES on the governance action to support the Input Output Research (IOR): Cardano Vision – Work Program 2025, with rationale provided below.

Rationale

• Secures long-term protocol innovation: Covers core research areas such as scalability, governance, and consensus to sustain Cardano’s evolution.

• Strengthens ecosystem transition: Acts as a bridge to transfer research expertise into the hands of a growing decentralized developer base.

• Proven delivery track record: IOG’s research contributions have consistently driven Cardano’s protocol advancements, from Ouroboros to Plutus and beyond.

Yoroi supports this program due to its enduring value in enhancing the network’s maturity and credibility, and looks forward to the impact it will bring to the Cardano blockchain.

Summary
Yoroi has voted YES on the governance action to fund Ecosystem Exchange Listing and Market Making service pool by Flowdesk based on the rationale provided below.

Rationale

Exchange Exposure: Listing CNTs on top-tier CEXs helps bring Cardano assets to a broader market, unlocking new liquidity and visibility.

Trusted Facilitator: Flowdesk’s proven track record, combined with their commitment to neutrality (no direct treasury payments), makes them a reliable partner.

Liquidity Boost: MMAAS ensures that once listed, CNTs have sustainable trading volume and price stability, which is vital for investor confidence and DeFi utility.

Yoroi sees this as a strategic leap toward closing Cardano’s liquidity gap and is happy to support this initiative.

Summary
Yoroi as DRep votes YES on the governance action to fund Complement Catalyst: Extended Quadratic Funding—Zero Operational Costs

Rationale

Enhancing Fairness: Leverages decentralized identity to ensure reviewers are matched based on merit, reducing manipulation and boosting trust.

Advancing Governance: Trials new mechanisms like quadratic funding and identity-based participation within Catalyst.

Shared Learnings: Offers feedback loops into Catalyst design while reinvesting in the growth of Cardano’s builder ecosystem.

Yoroi supports this initiative as both a practical improvement for Catalyst reviews and a larger-scale testbed for governance innovation. We encourage the team to publish their findings openly, as the results could help shape Cardano’s future governance framework.

Summary
Yoroi votes YES on the governance action titled OSC Budget Proposal – Paid Open Source Model for Sustainable Development.

Rationale

Maintenance & continuity: The Maintainer Retainer Program addresses the issue of underfunded open-source infrastructure.

Ecosystem-wide benefit: Tools maintained and built under this model benefit both users and developers, including wallets like Yoroi.

Inclusive developer path: Programs such as Code For Us and Summer of Code make it easier for new developers to contribute and grow within Cardano.

Security focus: Proactive allocation for bug bounties and incident monitoring adds an important layer of resilience.

Yoroi supports this budget as a foundational step toward strengthening Cardano’s open-source future and developer retention across the ecosystem.

Yoroi supports the Catalyst 2025 proposal by Input Output as a critical driver of Cardano’s decentralized funding infrastructure by voting Yes.

Rationale

Ecosystem Infrastructure: This proposal strengthens the technical and operational backbone of Catalyst through Hermes and unified user interfaces.

Community-Led Funding: Supports the continuation of Catalyst as a trusted platform enabling decentralized, inclusive innovation for builders across the globe.

Future Efficiency: Investment now is expected to lower costs, expand voting options, and improve transparency for long-term sustainability.

Yoroi views this proposal as essential to the evolution of Catalyst into a fully decentralized, scalable, and user-friendly funding platform and supports its execution.

Summary
Yoroi supports the governance action to fund A member-based organization for the Cardano ecosystem: Intersect with the rationale provided below.

Rationale

Decentralized coordination: Intersect plays a vital role in sustaining Cardano’s governance, from roadmap execution to committee operations and protocol upgrades.

Nonprofit model with ecosystem scope: Its structure helps facilitate inclusive participation while supporting essential infrastructure and oversight.

Acknowledging budget increase: The requested budget is significantly higher than previous cycles, though mechanisms like quarterly disbursement and capped allocation help mitigate risk.

Nevertheless, we support this proposal as an investment in the maturity and continuity of Cardano’s decentralized governance.

Summary
Yoroi votes YES to the governance action for TWEAG’s Proposals for multiple core budget projects for Cardano 2025.

Rationale

Robust infrastructure boost: Strengthens Cardano’s technical base through focused, modular improvements.

Decentralized delivery: Adds diversity to core development by engaging new contributors outside IOG.

High execution clarity: Roadmap and deliverables are clearly structured, allowing better transparency and tracking.

Yoroi recognizes TWEAG’s approach supports a healthy, pluralistic model for protocol development, an essential step for long-term resilience in Cardano’s governance and tech evolution.

Summary
Yoroi as DRep votes YES on the governance action to fund Cardano Builder DAO.

Rationale

Fills a funding gap: Supports dApps already delivering value but lacking structured long-term funding.

DAO-led transparency: Smart contract oversight, performance-based renewals, and return of unused funds show responsible governance.

Strong community alignment: Backed by key projects like NMKR, TapTools, ADA Handle, and others deeply embedded in the Cardano ecosystem.

We support this effort to help dApps scale responsibly and strengthen the Cardano network’s usability, reach, and economic impact.

Summary
Yoroi as DRep votes YES on the governance action to fund Cardano Summit 2025 and Regional Tech Events.

Rationale

Proven Execution: The Cardano Foundation has consistently delivered large-scale events with strong institutional engagement and broad reach.

Community Collaboration: This year’s proposal was co-developed with regional teams, ensuring grassroots participation and relevance.

Ecosystem Visibility: By showcasing real-world impact and onboarding new users, the Summit supports Cardano’s long-term growth and DeFi adoption.

Yoroi is convinced that this initiative serves as a strategic communication and adoption lever, and fully support its continuation and expansion.

Summary
Yoroi votes YES on the governance action to fund the 2025 Input Output Engineering Core Development Proposal.

Rationale
• This proposal is a strategic investment that strengthens Cardano's foundation through protocol upgrades like Leios and L2 scaling (Hydra, Mithril)
• Delivers tangible improvements for users, SPOs, and developers: including better performance, lower RAM costs, and tooling for secure smart contracts
• Reinforces Cardano’s decentralization goals via modular node architecture and increased contributor diversity
• Aligns with the Product Roadmap and has been reviewed by the Technical Steering Committee
• Strong implementation team with a proven history and well-defined plan for knowledge sharing and ecosystem support

Yoroi supports this proposal for its broad ecosystem impact and clear path to scalable growth.

Summary
Yoroi votes YES on the governance action to fund Midgard – Optimistic Rollups by Anastasia Labs.

Rationale:

Cardano-native architecture: Midgard uniquely utilizes the eUTxO model for fraud-proof simplicity and permissionless rollups, something not possible on account-based chains.

Scalable L2 with no token: It enables on-chain scaling without a new token, preserving ADA as the base economic layer and driving L1 fee growth.

Developer-driven & aligned: The team’s open-source contributions and modular framework approach could support wide adoption by other Cardano dApps and infra players.

Execution risk acknowledged: Given the ambitious scope, we encourage regular progress updates to foster transparency and trust.

Yoroi supports Midgard as a visionary scaling effort that advances Cardano’s unique strengths, and we look forward to seeing it evolve into a foundational layer for future decentralized applications on the network.

Summary
Yoroi votes YES to support the continued maintenance and improvement of Cardano.nix by MLabs.

Rationale

Reproducible Infrastructure: Cardano.nix simplifies building and deploying Cardano nodes and infrastructure with Nix, ensuring reproducibility and reducing configuration errors for SPOs and developers.

Adopted by Key Stakeholders: The tool is already used by major Cardano ecosystem players like IOG and the Daedalus team, indicating its established importance.

Provide High Impact: The proposal is focused, clearly scoped, and led by a capable team (MLabs) with a reliable track record in ecosystem tooling and DevOps.

Yoroi believes the continuity of infrastructure tools like Cardano.nix is essential for a stable and scalable Cardano ecosystem. Supporting this initiative aligns with our value of fostering open-source reliability and developer-friendly environments.

Summary

Yoroi votes Yes on the Treasury Withdrawal governance action titled Amaru Treasury Withdrawal 2025 based on the rationale below.

Rationale

Essential for Cardano’s growth: Funding Amaru will enable the development of a much-needed alternative node implementation, reducing reliance on a single Haskell-based node and encouraging innovation, security, and developer adoption in the ecosystem.

Transparent and auditable process: Intermediary smart contracts and on-chain metadata ensure that all treasury transactions are clear, trackable, and easily auditable, supporting strong financial oversight.

Responsible and efficient budgeting: We trust the team to manage these funds responsibly, as their proposed budget is efficient, transparent, and clearly reflects thoughtful planning.
In summary, in continuation of our previous YES vote on Amaru’s info action, we remain committed to supporting this important initiative.

Summary

Yoroi as a DRep, votes No on this Info Action regarding 2025 Cardano Blockchain Ecosystem Budget - 7.5M ₳ for Community Builders(defbf15b06092718adf4befeab982e03d2966b9caeef93c19e470549ef75ea4900).

Rationale

Redundancy in Funding: All of these initiatives are already included in the Intersect budget process, and approving them again here risks double-funding and undermines the clarity of treasury management.

Upholding Process: Yoroi believes it’s essential to follow the established, transparent channels for treasury allocation to ensure fair, sustainable, and community-aligned funding.

Even though we support every proposal listed, we cannot support the approach taken in this governance action. For these reasons, Yoroi has voted No

Yoroi, as a DRep, votes Yes on this Info Action regarding Cardano Blockchain Ecosystem Budget - 275M ada Administered by Intersect (e14de8d9dc4f4ddf3fe9250a8a926e20f10e99b86bd0610b77d7a054981591ee00) based on the rationale below

Rationale

Coordinated and Accountable Budgeting: The Info Budget Action presents a clear structure for organizing and signaling support for ecosystem-critical initiatives through 39 proposals backed by the Cardano community, while preserving accountability in how treasury funds are released and monitored.

Secure Fund Oversight: With Intersect as the administrator, built-in controls like multisig wallets, milestone tracking, and due diligence strengthen transparency and protect treasury resources.

Support for Ecosystem Growth Including DeFi: Many proposals within this budget aim to improve infrastructure, scalability, and developer tools, laying the groundwork for future DeFi innovation on Cardano.

In conclusion, Yoroi sees this as a major milestone in Cardano’s journey toward transparent, decentralized governance, and is proud to support this step forward.

Summary

Yoroi, as a DRep, votes No on this Info Action regarding the setting a 300 million ADA Net Change Limit for Epochs 563–635 (637e3c256da9c1350847ca3211e8c44e3660a4471e8b6f68a8c537746b4aeb7300).

Rationale
As Yoroi previously voted in favor of the 2025 Net Change Limit (9b62b3c632f329016a968ac25211825bb4f84b12461121c7da3aa11df92370f900) proposed by Intersect, we will continue to align with that voting stance.

GA: Defining the Cardano Vision and Roadmap for 2025 and beyond

https://gov.tools/governance_actions/56f39054758f1a3cedc1de9225d66bf270b62dfdbfbc5399f1d6d43aceffc636#0

https://adastat.net/governances/56f39054758f1a3cedc1de9225d66bf270b62dfdbfbc5399f1d6d43aceffc63600

Action ID: gov_action12meeq4r43udremwpm6fzt4nt7fctvt0ah7798x036m2r4nhlccmqqhmr9wx

Vote: Yes

Rationale
Yoroi has cast a “Yes” vote in favor of the “Defining the Cardano Vision and Roadmap for 2025 and beyond” Governance Action with the Action ID: gov_action12meeq4r43udremwpm6fzt4nt7fctvt0ah7798x036m2r4nhlccmqqhmr9wx.

Considering Yoroi’s focus as an integral open-source infrastructure product for user usability, the roadmap provides critical initiatives specifically on two fronts that are in line with Yoroi’s future development plans for greater adoption.

Yoroi aims to unlock and provide increased utility through programmable assets

Programmable assets extend Cardano’s use cases far beyond simple transactions, offering advanced on-chain functionalities already seen in other chains. These offer more opportunities for users and businesses to leverage Cardano for services such as decentralized identity, royalty and revenue mechanisms, tokenized access membership, and regulated stablecoins. Yoroi can work to develop functionalities and features alongside these priorities if the roadmap is approved, maximizing wallet user experience and adoption of Cardano.

Yoroi advocates for Layer-2 Solutions to drive scalability and handle high-volume transactions

The roadmap shows a multi-layered approach to drive scalability, which is critical for managing high-volume transactions. Hydra’s state channels allow for microtransactions, while Midgard focuses on data-heavy dApps. This multi-layer technical architecture provides solutions for different user needs, from fast payments to more complex DeFi-related activities. This increased flexibility in Layer-2 scaling solutions allows developers to utilize tools to create high-performance applications and enables Yoroi to grow and develop more versatile services to target an expanding user base that has increasingly different specific needs.

To maintain full transparency and provide a reliable backup of the originally proposed roadmap in case of any modifications, we have uploaded a PDF version to IPFS (https://ipfs.io/ipfs/bafybeifnemav24kbi5lybmejayjz6yx36w7ff2l6clbsi2gnnqbk4ujifm)