The decisions, the voting behind them and the shifts in power shaping Cardano governance, a few epochs at a time.
No. 43·Epochs 656 to 659·16 Sept 2026 to 6 Oct 2026
The request expired although 129 DReps voted yes and only five voted no. It reached 65.2% of DRep power, short of the 67% a withdrawal needs.
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No. 42·Epochs 653 to 655·1 Sept 2026 to 16 Sept 2026
The bundle that would have cut the minimum pool fee to 75 ada expired at 34.5% of pool stake, and one epoch later the cut was filed again on its own, where pools have no vote. The new committee took office, and two treasury requests reached their deadline.
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No. 41·Epochs 650 to 652·17 Aug 2026 to 1 Sept 2026
₳120M for Cardano PRIME left the treasury at the start of epoch 650, the largest single withdrawal to date, with ₳42.6M left under the spending limit through epoch 713. At the window's end a committee election and a cut to the minimum pool fee were both at their deadline.
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No. 40·Epochs 647 to 649·2 Aug 2026 to 17 Aug 2026
Cardano PRIME's ₳120M request needed a higher treasury spending limit before it could be paid. DReps raised the cap from ₳350M to ₳500M, then approved PRIME two epochs later. Yoroi and EMURGO abstained on everything else in the window and called PRIME the exception.
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No. 39·Epochs 642 to 646·8 Jul 2026 to 2 Aug 2026
The treasury paid twelve withdrawals in epochs 642 to 646 and seven requests expired. The published rationales show concerns about custody, costs and how treasury funding should be allocated, and Yoroi and EMURGO cast the same vote on all nineteen.
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No. 38·Epochs 639 to 641·23 Jun 2026 to 8 Jul 2026
Three infrastructure withdrawals were paid in epochs 639 to 641, ₳51.3M together. Tweag's ₳18.3M for faster finality passed at 70.1% after a two year version for more than twice the sum had failed, and the voters said what had changed. Delegation to DReps fell ₳211M.
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No. 37·Epochs 636 to 638·8 Jun 2026 to 23 Jun 2026
Cardano Vision received ₳32.9M after Yoroi, EMURGO and YUTA switched from abstain to yes, YUTA pointing to the falling ada price. Four other requests expired, including Eternl's wallet proposal, which the company had already refiled with the committee's objections addressed.
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No. 36·Epochs 633 to 635·24 May 2026 to 8 Jun 2026
Nine treasury requests reached their deadline together in epoch 633, submitted in one transaction. Six were paid, three expired, and the rationales show DReps sorting them one by one. Cardano's baseline sponsorship at TOKEN2049 was funded, an upgrade package and the Cardano Summit request fell short.
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No. 35·Epochs 630 to 632·9 May 2026 to 24 May 2026
A ₳14.1M request for two conferences in Singapore expired in epoch 630 at 10.0% of DRep power, five of six committee votes for it. DReps wanted one event, not two, and evidence from the 2025 summit. Its pieces were already refiled. Nine requests reached their deadline at the close: 1,684 votes in one epoch.
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No. 34·Epochs 627 to 629·24 Apr 2026 to 9 May 2026
The only decision of epochs 627 to 629 was a ₳8.0M HLabs request that finished at 66.77% of DRep power, 0.23 points under the 67% a withdrawal needs. Yoroi and EMURGO abstained over a third node, the Cardano Foundation asked for a leaner Pebble request. One epoch later HLabs filed two requests, ₳4.6M each.
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No. 33·Epochs 624 to 626·9 Apr 2026 to 24 Apr 2026
The largest withdrawal since epoch 606 was paid at the start of epoch 624, ₳50M as the first tranche of an investment fund that proposes to return money to the treasury. A Go node and a liquidity budget followed. An information vote backed the Cardano Foundation as the new manager of Project Catalyst at 83.4%.
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No. 32·Epochs 621 to 623·25 Mar 2026 to 9 Apr 2026
The budget process framework closed with 68.4% of DRep power and a committee split five to two. KtorZ and the Eastern Cardano Council wrote that a process on chain becomes the only route in practice. A ₳50M investment fund was ratified over objections about oversight, and the new spending period saw its first draw.
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No. 31·Epochs 615 to 620·23 Feb 2026 to 25 Mar 2026
A second ceiling for epochs 613 to 713 set the limit just under the 2025 inflows, ₳50M below the agreed ₳350M. It closed at 44.1% of DRep power, short of the majority a ceiling needs. Yoroi and EMURGO voted no to keep the room, Dave and hix_coffeepool because ₳300M was still too much.
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No. 30·Epochs 612 to 614·8 Feb 2026 to 23 Feb 2026
The old spending period closed with ₳2.97M of its ₳350M unused, and a new ₳350M ceiling for epochs 613 to 713 replaced it, endorsed as an upper limit. A memory increase for smart contracts took effect, and the proposal to cut the minimum committee size from seven to five was dropped before its deadline.
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No. 29·Epochs 609 to 611·24 Jan 2026 to 8 Feb 2026
This is a data edition. At epoch 609 the power delegated to DReps rose ₳190.1M in one step while the share of the ten largest fell from 49.8% to 47.5%. The snapshots show a change in distribution, not who moved. The new constitution took effect that epoch, and DeltaDeFi's budget under the old rules expired at 12.0%.
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No. 28·Epochs 606 to 608·9 Jan 2026 to 24 Jan 2026
No stake pool voted against adding an eighth committee member, and it expired anyway: 97 yes votes came to 17.4% of counted stake, and DRep support fell short too, Yoroi and EMURGO writing that the snap election had been for one seat. The revised constitution passed on the third attempt, and ₳70M went out.
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No. 27·Epochs 603 to 605·25 Dec 2025 to 9 Jan 2026
The spending period was closing with ₳73.0M of its ₳350M unused and a ₳70M payment still waiting for a vote. DReps endorsed an eight epoch extension with the budget, calling it a timeline fix, and the payment was ratified one epoch later. The Eastern Cardano Council backed the budget and voted no on the withdrawal.
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No. 26·Epochs 600 to 602·10 Dec 2025 to 25 Dec 2025
Cardano Curia, elected in a snap election, took a seat at the start of epoch 602, putting the committee back at the seven the protocol requires. YUTA wrote that nobody else could have run another election. A proposal for an eighth member, Christina, had been filed in epoch 600.
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No. 25·Epochs 597 to 599·25 Nov 2025 to 10 Dec 2025
The ₳5M loan to the Snek Foundation for exchange listings, the first loan the treasury has made, was ratified at the start of epoch 597. The Cardano Atlantic Council resigned later that epoch, leaving six committee members where seven are required, and the already ratified loan was paid at the start of epoch 598.
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No. 24·Epochs 594 to 596·10 Nov 2025 to 25 Nov 2025
Five members of Cardano's constitutional committee signed a ₳1M budget to pay each of them up to ₳200,000. It closed at 21.2% of DRep power, with ₳1.69B abstaining. Yoroi and EMURGO asked for a clearer case for the sum. The Cardano Foundation voted no and wanted an accountability framework first.
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No. 23·Epochs 591 to 593·26 Oct 2025 to 10 Nov 2025
Constitution v2.3 expired at 64.85% of DRep power against the 75% it needed, after v2.0 had expired at 55.6%. Yoroi and EMURGO voted no over its audit and custodian wording. GovTool's ₳1,150,000 withdrawal expired at 56.0% against 67%, the Eternl DRep Committee calling the sum too high.
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No. 22·Epochs 588 to 590·11 Oct 2025 to 26 Oct 2025
The ₳50M stablecoin liquidity budget closed with 73.7% of DRep power and all seven committee votes. The Cardano 2030 strategy draft, filed by a community member its document does not name, closed at 26.2% with ₳1.82B abstaining, more than the ₳1.00B for it and the ₳0.37B against together.
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No. 21·Epochs 585 to 587·26 Sept 2025 to 11 Oct 2025
The Snek Foundation's ₳5M budget for SNEK exchange listings, a loan at 2.44% a year, closed at 65.1% of DRep power after all seven committee members had found two withdrawal requests for the same plan unconstitutional. SASA and CardanoYoda voted no. Cardano in Oceania's ₳778,000 plan closed at 10.5%.
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No. 20·Epochs 582 to 584·11 Sept 2025 to 26 Sept 2025
Three proposals were filed and none was decided: Elder Millenial's ₳50M budget for stablecoin liquidity, a Cardano 2030 strategy draft filed by a community member its document does not name, and GovTool's ₳1.15M withdrawal. Nothing was paid, and ₳78.0M of the ₳350M ceiling stayed unused.
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No. 19·Epochs 579 to 581·27 Aug 2025 to 11 Sept 2025
Seven elected members replaced Cardano's interim committee at the start of epoch 581. Constitution v2.0 expired at the same boundary with 55.6% of DRep power against a 75% bar. The interim committee had found both Snek listing withdrawals unconstitutional, six of its seven members because no budget authorised them.
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No. 18·Epochs 576 to 578·12 Aug 2025 to 27 Aug 2025
Socious's ₳1.5M quadratic funding request expired with 57.3% of DRep power and Haus's ₳3.0M tokenised property request with 52.7%, both short of the 67% a withdrawal needs. The other 37 requests of the first spending round were paid, 34 of them in these three epochs for ₳102.1M.
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No. 17·Epochs 573 to 575·28 Jul 2025 to 12 Aug 2025
At the start of epoch 575 the treasury paid ₳168.4M for Input Output Engineering, Catalyst and Midgard, with the Cardano Foundation abstaining on the largest payment. Another 27 requests worth ₳78.1M were ratified at the same boundary, and the GovTool budget closed at 57.2% of DRep power.
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No. 16·Epochs 570 to 572·13 Jul 2025 to 28 Jul 2025
Amaru's ₳1.5M for an alternative Cardano node was paid at the start of epoch 571, the first treasury withdrawal enacted since on-chain governance began. In epoch 570 Intersect filed 39 requests for ₳275.0M, and DReps cast 2,350 votes in epoch 571.
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No. 15·Epochs 564 to 569·13 Jun 2025 to 13 Jul 2025
Intersect's ₳275M budget for 39 proposals closed at the start of epoch 564 with 65.4% of DRep power. In epoch 566 Amaru asked for ₳1.5M under its own node budget, the first treasury withdrawal request since on-chain governance began. Delegation to DReps fell ₳279.5M in epoch 565.
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No. 14·Epochs 561 to 563·29 May 2025 to 13 Jun 2025
Amaru's ₳1.5M node budget closed at 80.4% of DRep power. The ₳200M and ₳300M ceilings closed below 50%, so the ₳350M one stayed in force. All seven committee members found the community builders budget unconstitutional, and a liquidity budget whose document did not match its hash drew ₳0.20B of power against ₳2.14B.
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No. 13·Epochs 557 to 560·9 May 2025 to 29 May 2025
Intersect filed a ₳275.3M budget bundling 39 proposals. YUTA voted yes on conditions, and CardanoYoda and SASA voted no over one vote for all 39. A ₳200M ceiling stood at 43.9% of DRep power as of the close of epoch 560, after EMURGO and the Eternl DRep Committee voted no on it. Nothing was paid.
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No. 12·Epochs 554 to 556·24 Apr 2025 to 9 May 2025
Intersect's ₳350M limit on treasury withdrawals for epochs 532 to 604, the first since on-chain governance began, closed at 73.4% of DRep power. The Intersect Constitutional Council found it unconstitutional over a one epoch error. A ₳200M ceiling, a ₳300M ceiling and three budgets were filed after it.
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No. 11·Epochs 548 to 553·25 Mar 2025 to 24 Apr 2025
The ₳300M and ₳250M spending limit closed at 34.7% of DRep power, below the 67% its document set itself, although more power voted yes than no. Its anchor document matched its on-chain hash only once it was replaced. Intersect's ₳350M limit stood at 73.4% as of the close of epoch 553.
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No. 10·Epochs 545 to 547·10 Mar 2025 to 25 Mar 2025
Decrease Treasury Tax from 20% to 10% expired at the start of epoch 546 with 23.2% of DRep power, against the 67% it needed. Five committee members found it unconstitutional, four of them citing the missing reversion plan. Two net change limit proposals were filed and were still open at the close.
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No. 9·Epochs 542 to 544·23 Feb 2025 to 10 Mar 2025
The first proposal under Cardano's new constitution came from Intersect's product committee, a 2025 roadmap put to the DReps. It drew 87 yes votes to 4 no in three epochs. CryptoCrow, SIPO and Martin Lang voted yes on halving the treasury cut, Socious and Wada DRep no.
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No. 8·Epochs 538 to 541·3 Feb 2025 to 23 Feb 2025
Cardano's constitution was ratified at the start of epoch 541, its stored tally at 84.9% of DRep power, and all seven committee members found it constitutional. Pi Lanningham voted yes while listing faults, and HeptaSean voted no over the process. A proposal to lower the treasury cut to 10% was filed in epoch 539.
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No. 7·Epochs 535 to 537·19 Jan 2025 to 3 Feb 2025
The Plomin hard fork took effect at the start of epoch 537, after 66.0% of counted pool stake backed it and all seven committee members found it constitutional. From then on every action that can be enacted needs DRep approval. DReps cast 146 votes in epoch 537, all on the constitution proposal filed that epoch.
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No. 6·Epochs 529 to 534·20 Dec 2024 to 19 Jan 2025
Intersect filed the Plomin hard fork in epoch 529. By the close of epoch 534, 581 pools had voted yes, 4 no and 34 abstain, and Input Output and the Cardano Japan Council had found it constitutional. DReps had no vote on it. The signal to name the upgrade after Matthew Plomin closed at 76.5% of DRep power.
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No. 5·Epochs 526 to 528·5 Dec 2024 to 20 Dec 2024
The name Plomin for the coming hard fork, proposed by Intersect's Hard Fork Working Group, stood at 76.5% of DRep power as of the close of epoch 528. Intersect's Plutus cost model update took effect at the start of epoch 526 and priced 12 operations that hard fork would add, with no DRep or pool vote on it.
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No. 4·Epochs 523 to 525·20 Nov 2024 to 5 Dec 2024
Intersect filed the same Plutus V3 cost model update twice. Five committee members found the first filing, which would not have had its intended effect, unconstitutional before it expired. Five had found the second constitutional by the end of epoch 524, and it was ratified at the start of epoch 525.
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No. 3·Epochs 517 to 522·21 Oct 2024 to 20 Nov 2024
Atrium Lab's information action on raising Cardano's stake pool target K from 500 closed at the start of epoch 521 with 15.5% of DRep power. More DReps voted yes than no, 88 to 54, but the no votes carried ₳347.9M against ₳153.1M, and three committee members found the action unconstitutional.
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No. 2·Epochs 514 to 516·6 Oct 2024 to 21 Oct 2024
Atrium Lab asked whether Cardano should raise its stake pool target of 500 and gave more participation in governance as its goal. Its first three epochs drew 59 yes votes, 41 no and 8 abstain. The HOSKY naming proposal closed at the start of epoch 514 with 1.9% of DRep power.
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No. 1·Epochs 508 to 513·6 Sept 2024 to 6 Oct 2024
Power delegated to DReps grew from ₳134.3M to ₳457.3M in six epochs, and the DReps holding it from 261 to 419. Adam Dean's request to name the next hard fork HOSKY drew 93 DRep no votes to 11 yes. Ikigai, a note of thanks to Input Output, EMURGO and the Cardano Foundation, asked for no change.
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