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Stable coin liquidity is very important for defi. It is evident that the amount of stable coin liquidity on Cardano is holding back the potential of Cardano defi. With many defi projects in the works and the goal and vision to be a prominent or competing defi layer for the greater crypto industry, a surplus of stable coin liquidity is a must. Although I agree and will be voting YES on this live voting proposal, more than this initial 50 million ADA may be necessary for the defi eco system. This is a great and needed start for an initial injection, but we as an ecosystem should continue to monitor and evaluate the state of defi on Cardano and ask ourselves if another injection of X amount of ADA would be helpful or necessary.

Cardano now holding over 1.5 billion ADA. Setting a net change limit of 300 million is fair for this year. Assuming Cardano will be able to handle more transactions and execute more transactions in the coming years I suspect that this NCL will be increased as functionality and useability increase. Despite previous stances I had thinking the NCL should be on the conservative side (100-200 million ADA), I believe that in these early years we as a community should be aggressive with the NCL in order to fund projects, companies, and innovation. This is necessary stay competitive and bring builders to this ecosystem.

I am voting "No" based on the potential for volatile and unstable funding years.

I believe the net change limit should be based relatively on the prior year treasury income. Meaning since there is a fixed supply of total lovelace, a high level of accumulation in the treasury relative to the total supply of lovelace is not necessary. I also believe that solely basing the net change limit on prior year treasury income will create years where net change is very high and other years where net change is very low relatively.

There should be a ratio of treasury inflows to net change limit that will pave the path for a higher or lower net change limit than prior year, or some sort of system that should be maintained to not have volatile years of funding. Moving in the direction of flat or gently rising net change limits will be beneficial to the predictability and consistency of funding projects and innovation.

An approach such as having a starting net change limit of 100 million to 200 million ADA and every year and using the information from prior year treasury inflows compared to the amount of ADA from the prior year budget to vote on increasing or decreasing the new net change limit by up to 10%. Then having a ratio safe guard that says, if the net change limit is less than 1/12 of the total budget then we can override the 10% rule and vote on up to 25% increase or greater than 1/4 of the total budget then we can override the 10% rule and vote on up to 25% decrease. Under these conditions we will have a much more stable looking and feeling fund for innovation.