Delegation to Cardano DReps grows from ₳134.3M to ₳457.3M

DReps holding power rise from 261 to 419

The data behind this series begins at epoch 508, one epoch after the Chang hard fork let ada holders register as DReps, delegate their voting power to one and vote. At that first reading 261 DReps held ₳134.3M of delegated power. By epoch 513, 419 DReps held ₳457.3M, ₳323.0M more, and both figures had risen at every reading in between.

The count of DReps with a vote in the previous twelve epochs went from 54 at epoch 508 to 115 at epoch 513, a count that includes DReps without delegated power. At that last reading, 305 of the 419 DReps holding delegated power had no recorded vote in the previous twelve epochs. The ten largest DReps held 53.4% of the delegated power at epoch 508, 54.2% at epoch 510, the highest of the six readings, and 50.3% at epoch 513.

The window holds 239 votes with superseded votes included, 146 from DReps, 89 from pools and 4 from committee members, and final votes from 101 distinct DReps and 67 pools. DReps cast 49 of theirs in epoch 510, the epoch Ikigai was filed, and 16 to 24 in each of the other five. In this phase of governance only parameter changes, hard fork initiations and information actions could be proposed, so no treasury withdrawal could be requested.

The HOSKY hard fork name draws 93 DRep no votes

Name the next hard fork HOSKY Hard Fork was filed in epoch 507, and LloydDuhon and the Dutch Drep thanked Adam Dean for it in their rationales. The proposal was a joke: it asks for the next hard fork to be named after HOSKY, a meme token its document calls “Cardano’s mutt” and the most widely recognised and held asset in the ecosystem, because numbering releases around the name Chang confuses users and the media. The document at its address does not match the hash the proposal registered on chain, so the chain indexers hold no title for it, but the document itself carries this one. An information action registers an opinion and is never ratified, and voting on this one ran to the start of epoch 514.

As of the close of epoch 513, the naming proposal’s stored DRep counts were 11 yes, 93 no and 21 abstain, for 1.9% of DRep power, and pools had cast 6 yes votes and 64 no. The DRep named HOSKY abstained in epoch 507.

YUTA voted no in epoch 512, giving three reasons: a meme coin’s name could lower the brand of the chain, renaming an upgrade due very soon could cause confusion, and the action’s rationale was insufficient. The Eternl DRep Committee voted no in epoch 507, writing that the probability of the upgrade going wrong “is much higher if it is called HOSKY”. Chris of Straightpool voted no in epoch 509, writing that Cardano hard forks “were so far always named after deceased people we wanted to honour”, and Cerkoryn voted no in epoch 507 and proposed the name of Manuel Sadosky, an Argentine pioneer in math and computer science, since the constitution was to be signed in Argentina around the time of the fork. LloydDuhon voted no in epoch 509 while thanking Adam Dean for “raising the first issue to a vote”, and wrote that the community should find a way to communicate on actions before raising them.

InputEndorsers abstained in epoch 508, writing that the action’s data was missing on gov.tools. GAIA voted no in epoch 509, writing that it could not vote yes on a proposal it could not read or that had been altered.

On the committee, the Cardano Atlantic Council found it constitutional in epoch 510, writing that the interim constitution places no restrictions on the naming of hard forks. The Intersect Constitutional Council found it constitutional in epoch 512 while noting that it was not fully viewable in GovTool because of an unsupported metadata format. The Eastern Cardano Council abstained in epoch 513, writing that the interim constitution does not empower the committee to assess an information action that does not gauge sentiment on another action which can be enacted.

Ikigai thanks Input Output, EMURGO and the Cardano Foundation

Cardanoの生きがい - Ikigai - was filed in epoch 510 under the author name Cardano コミュニティ, Japanese for Cardano community, and voting on it ran to the start of epoch 517. Its document thanks Input Output under Charles Hoskinson, EMURGO and the Cardano Foundation for bringing Cardano into the world, and states that it seeks no change on chain or off it, directly or indirectly. It asks DReps and pools to vote yes if they share the sentiment, no if they do not, and abstain if they are unsure. Across the roles it drew 94 yes votes, 3 no and 13 abstentions in epochs 510 to 513, superseded votes included, 50 of the yes in epoch 510.

YUTA voted yes in epoch 512, writing that it was “just a congratulatory message” and that there was no point in opposing it. The Eternl DRep Committee voted yes in epoch 510, writing that “the road behind us was worth the walk”, and InputEndorsers in the same epoch, writing that the action acknowledges a history that began almost a decade ago. hix_coffeepool☕️ voted no in epoch 511, writing that all stakeholders “should be treated equally under the constitution”, so statements that glorify specific stakeholders are unacceptable, and that information actions should be kept to a minimum so they do not hinder governance. On the committee, the Cardano Atlantic Council abstained in epoch 513 to avoid “setting a precedent” for sentiment proposals that are not tied to governance changes.