CARDANO BLOCKCHAIN ECOSYSTEM CONSTITUTION v2.0

Rationale highlights

Why some of the largest DReps voted for and against, in their own words.

• YUTA

  Yes435.8M ₳

  I'm voting YES on [CARDANO BLOCKCHAIN ECOSYSTEM CONSTITUTION v2.0]. While there are many areas for improvement, the biggest reason is to support builders more efficiently while strengthening the protection of financial soundness. CONSTITUTION v2.0 makes no...

  I'm voting YES on [CARDANO BLOCKCHAIN ECOSYSTEM CONSTITUTION v2.0].

  While there are many areas for improvement, the biggest reason is to support builders more efficiently while strengthening the protection of financial soundness.

  CONSTITUTION v2.0 makes no major changes to the text other than adding and relaxing conditions for treasury withdrawals and removing Budget Information Actions.

  In exchange for removing the Budget Information Actions, several disclosure requirements have been added for treasury withdrawals.

  However, most of this is merely clarification of the items to be disclosed, and nothing will significantly increase the burden on proposers. For treasury withdrawals totaling less than 1 million ada within two years, several burdensome conditions, such as audit requirements, have been removed.

  ---

  [ CARDANO BLOCKCHAIN ECOSYSTEM CONSTITUTION v2.0 ]にYESを投票します。

  多くの改善点が残っていると思いますが最大の理由はビルダーをより効率的に支援すると同時に、財務健全性の保護を強化しているためです。

  CONSTITUTION v2.0 は、トレジャリー引き出しの条件追加および緩和とBudget情報アクションの削除の以外の条文に大きな変更はありません。

  Budget情報アクションが削除される代わりにトレジャリー引き出しの要件について、いくつか開示すべき要素が追加されています。
  ただし、ほとんどは記載項目の明確化であり、提案者の大きな負担増につながる項目はありません。
  また、トレジャリー引き出しに関して、2年以内に合計100万ADA以下のトレジャリー引き出しに関しては大幅に監査要件などが除外されています。

• Eternl DRep Committee

  No222.9M ₳

  TL;DR: EDC voted NO on gov_action1ypajyms3pcfmkx93r87dxy6jpc8u6pst90ylhxj7t0rwjj43puasq0x9jrw; Process of going through the changes: General: Have an LLM check the grammar and spelling, please; e.g. Block vs block, missing spaces after commas etc. 24...

  TL;DR: EDC voted NO on gov_action1ypajyms3pcfmkx93r87dxy6jpc8u6pst90ylhxj7t0rwjj43puasq0x9jrw;

  Process of going through the changes:

  General: Have an LLM check the grammar and spelling, please; e.g. Block vs block, missing spaces after commas etc.

  • 24 Delegated Representative (DRep). The individual or entity registered to vote with respect to on-chain governance actions for its own behalf or on behalf of other owners of ada.

  • 24 Delegated Representative (DRep). The individual or entity registered to vote with respect to on-chain governance actions for its own behalf or on behalf of other Ada Holders.

  • 26 Net Change Limit. Means the maximum amount or percentage by which the Cardano Treasury may not be reduced by in a given period.

  • 26 Net Change Limit. Means the maximum allowed amount of Lovelace removed from the Cardano Treasury in a given period.

  • 28 Stake Pool Operator (SPO). An individual or entity that manifests intent through the signed transactions of a Stake Pool.

  • 28 Stake Pool Operator (SPO). An individual or entity who directly controls the cold key(s) to a Cardano block producing node.

  30 Block(s) vs block(s)

  87 - Three independent voting bodies - DReps, SPOs, and the CC - participate in on-chain voting; anyone holding multiple roles must publicly disclose such overlaps before engaging in any on-chain governance actions.
  --- This is not enforcable. An anonymous DRep could also be an anonymous SPO.

  Now leaning towards ABSTAIN.

  92 - DReps may vote on all types of governance actions.
  --- A bit of a non-sensical one. While they can vote on everything, hardforks are not determined by them.

  94 - DReps shall ensure that any compensation received in connection with their activities as a DRep is publicly disclosed in a timely manner through relevant governance communication channels.
  --- Again, not enforcable. What do you want to do, if you find out a DRep did not disclose it? Ban them by ledger rule?

  95 - DReps shall not offer or provide compensation to an Ada Holder or in exchange for being appointed as a DRep or for voting on their behalf.
  --- Again, not enforcable. Same as 94.

  101 - SPOs shall publicly disclose if they are simultaneously voting as a DRep on the same governance actions.
  --- This is not enforcable. An anonymous DRep could also be an anonymous SPO.

  Now leaning towards NO.

  103 vs 99. Almost same content, can that be shortened?

  106 - ... The document hosted by such a URL shall be immutable in nature and incapable of being altered after submission of the proposed governance action for on-chain voting.
  --- This reduces the hosting options dramatically. As long as the hash is correct and the document wasn't altered, the action should be valid.

  135 - Treasury Withdrawal Recipients shall use treasury withdrawals for the purpose set out in Section 7, paragraph 1 above.
  --- Makes no sense.

  • 148 - ... owners of ada.

  • 148 - ... Ada Holders.

  153 - ... no confidence will result.
  --- No proper English.

  357/359/1141 ada holders vs Ada Holders. (It's a definition and should be capitalized). Please check 'owners of ada' and 'ada holders' in the whole document and replace it with Ada Holders.

• Sebastien Guillemot セバ

  No174.6M ₳

  I agree with the changes in principle, but I don't like the idea of replacing the info action with a new "roadmap" info action as I believe this will be too limiting and too prone to have the process captured and centralized

• Cardano Foundation

  Yes120.2M ₳

  The Cardano Foundation, as a DRep, votes YES on the New Constitution GA. We believe it is an improvement to the current version. Our vote is based on a thorough review, in line with the principle that the Constitution is a living document designed for...

  The Cardano Foundation, as a DRep, votes YES on the New Constitution GA. We believe it is an improvement to the current version. Our vote is based on a thorough review, in line with the principle that the Constitution is a living document designed for periodic refinement by the community.

  A PDF version of this rationale is also made available.

  This governance action has generated significant community discussion, much of which is focused on the drafting process, as it did not include global workshops and voting at a convention. We believe that governance documents for a decentralized infrastructure like Cardano should be improved incrementally and that any community member should be allowed to make suggestions. While in-person processes have their place and can be useful, we do not agree that this should be a requirement for any proposed changes.

  Consequently, we focused on evaluating the substance of a proposal and are voting on whether it represents a net positive for the Cardano ecosystem. In our assessment this proposal followed the amendment process as it is currently required by the Constitution. While there were no workshops or conventions, the drafting process involved months of public, asynchronous feedback via shared documents where anyone could contribute. We welcome further refinement of the constitutional amendment process and we see the Civics Committee as a potential body to lead this work. The Cardano Foundation is eager to collaborate with them to explore a structured process for future amendments. However, at this stage we do not wish to vote against an amendment which we believe is a net positive for the system simply because it did not follow the previous drafting process.

  Assessment of the Proposed Version

  The new version makes several key enhancements that we believe will make Cardano's governance more effective:

  1. A More Efficient Treasury Process: The proposal streamlines the treasury process by removing the separate "budget info action" and integrating its requirements directly into a single, more comprehensive treasury withdrawal governance action type. This reduces bureaucracy while maintaining scrutiny, as the new draft introduces stricter informational requirements for all treasury withdrawals. Some of these requirements will provide DReps with greater certainty as to who is receiving the withdrawal and what they intend to use it for, thereby providing better transparency for the ecosystem on the use of treasury funds.

  2. Enhanced Clarity and Governance Hygiene: The draft introduces clearer definitions, fixes many inconsistencies, and removes outdated or unused clauses. These changes make the Constitution a more precise and self-contained document while reducing ambiguity for all governance participants.

  3. Upholding Core Governance Principles: This update refines the Constitution's mechanics without altering the fundamental balance of power or the core roles of DReps, SPOs, and the Constitutional Committee.

  The Cardano Foundation, as a DRep, votes YES on the New Constitution Governance Action. We see it as an incremental improvement that aligns with the core principle of the Constitution as a living document. This vote represents a principled decision to support progress and affirm that, in a decentralized ecosystem, constructive proposals should be judged on their substance and merit.

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  NOTE on 'Internal Voting':
  The fields constitutional and unconstitutional below reflect the CF governance teams' individual opinions whether they are for or against the proposal.
  Reason for this inconsistency is, that CIP-136 is at the moment only applicable to CC rationales, but we want to record the internal opinions of our DRep assessment transparently as well.