Hard Fork to Protocol Version 10 ("Plomin" Hard Fork)
710 SPOs voted · 4 with a rationale · 3 changed their vote · 1 re-voted unchanged
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HEPHY pool is voting YES on the Plomin hardfork governance action. Having considered ecosystem readiness including exchange liquidity, SPOs and block production, DRep distribution and finally tooling/wallets/dApp readiness as of 20 Jan 2025 1500 UTC.
Exchange liquidity:
61.26% of exchange liquidity has reported as ready with a further 24.84% in-progress giving a total of 86.11% soon to be ready.SPOs:
86% of blocks this epoch have been validated using 10.1.4 nodes, mitigating any potential risks previously identified with nodes 10.1.1-3.Tooling, wallets and dApps:
The majority of tooling, wallets and dApps have reported as ready.DRep distribution:
The only reservation remaining around the hardfork is DRep distribution and ADA holder participation, as the DRep role will become fully active following the hardfork. 87.11% of ADA is currently not actively taking part in governance while there are some centralisation concerns regarding the distribution of actively participating ADA.16 DReps could currently reach a 60% threshold needed for future hardforks.
21 DReps could currently reach a 67% threshold needed for no-confidence votes, parameter changes and treasury withdrawals.
28 DReps could currently reach a 75% threshold needed for updates to governance parameters and the constitution.Given the current readiness of the wider ecosystem and the liquid nature of Cardano governance, HEPHY is voting YES to move forward with the hardfork. This hardfork will enable the full set of governance features as outlined in CIP-1694 and will allow the ecosystem to move on from the current Interim Constitution and Interim Constitutional Committee.
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