Set a 300 million ADA Net Change Limit for Epochs 563–635
191 DReps voted · 56 with a rationale · 7 changed their vote · 4 re-voted unchanged
Open a row to read the rationale.
Changed votes: 3 to yes, 3 to no, 1 to abstain, together voting with 109.2M ₳ of voting power.
- Yes124.6K ₳No rationale
- Yes122.8K ₳No rationale
- Yes97.5K ₳Rationale
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.
- Abstain90.6K ₳Rationale
Rationale – Abstain Vote on the 300M ADA NCL (Epochs 563–635)
As a dRep, I am casting an abstain vote on this governance action.The proposed 300M ADA cap for Epochs 563–635 is technically reasonable and aligned with the Treasury’s projected inflows. It also represents roughly double the annual withdrawal amount previously seen in the Project Catalyst program (~50M ADA per four-month cycle), which should not result in exaggerated sell pressure — especially considering that most proposals will likely be disbursed over time in tranches tied to deliverables.
Still, I cannot fully endorse the way this NCL has been structured. My concerns include:
It initiates a budget cycle mid-calendar year, which may further confuse proposers and dReps. While not the most critical issue, this desynchronization introduces unnecessary inconsistency and reduces predictability in treasury coordination and planning.
It includes no mechanism to limit how much a single entity, group, or proposal may request from the total NCL amount. This leaves room for excessive concentration of funds and repeats problematic dynamics seen previously — such as budget dominance by large actors.
I acknowledge that including such limits within the NCL governance action itself would likely violate the Cardano Constitution, which defines the NCL solely as a cap on total withdrawals.
However, I believe it is good practice for any group proposing an NCL to also outline a strategy to establish such guardrails and percentage limits in a follow-up governance action.
So far, this concern has not been addressed or signaled as a priority by any of the current proposers.Such a complementary governance action could provide political guidance for dReps when voting on future Budget or Treasury Withdrawal Actions, promoting fairer and more decentralized distribution of Treasury resources — a principle this community is proud to stand for.
While I voted NO on the previous 200M ADA NCL due to the risk of centralizing nearly all treasury funds around IOG proposals, I am abstaining here because I see the 300M ADA limit as a more appropriate compromise — one that could still allow critical community-led initiatives to receive funding and reduce overconcentration in the ecosystem.
My abstention is a rejection of the current structure, without blocking the continuity of treasury operations. I remain committed to pushing for structural reforms that strengthen the legitimacy, predictability, and fairness of Cardano’s budget process.
- Yes83.9K ₳Rationale
I have decided to vote in favor of this proposal. I believe that a 300 million ADA NCL is appropriate for the time period listed and I prefer it to the current 350 million NCL. Additionally the setting of a roughly one year period (ending epoch 562) to fund projects and work out the general budget implementation, is an improvement on the current approved NCL which would end too soon (Dec 2025) to properly fund the projects that have put forward proposals.
- No77.2K ₳No rationale
- Abstain65.9K ₳No rationale
- Yes63.1K ₳No rationale
- YesRevoted56.4K ₳Rationale
The limits between 275M and 300M NCL is consistently the available options among the polls and submissions for budget NCL, I find value in the higher of the 2 for the future build out of the ecosystem.
-LOURDE-
Ouroborus
Imperator
AeternalisEarlier votes
Yes1y agoSuperseded
The limits between 275M and 300M NCL is consistently the available options among the polls and submissions for budget NCL, I find value in the higher of the 2 for the future build out of the ecosystem.
Yes1y agoSuperseded
The limits between 275M and 300M NCL is the constantly an option among the polls and submission I find value in the higher of the 2 for the future build out of the ecosystem.
- No56.1K ₳Rationale
better define smth until EOY, instead of a random date in the middle.
Also, no reason to define a NCL for such a far-away time period when the learnings about the first cycle are just about to happen. - No48K ₳No rationale
- Yes45.3K ₳No rationale
- Yes36.4K ₳No rationale
- YesRevoted35.1K ₳History
Earlier votes
Yes1y agoSuperseded
- No30.9K ₳No rationale
- No26.7K ₳Rationale
Voting no because I want a lower NCL so we are forced to reform Catalyst or get rid of it.
- No23.4K ₳No rationale
- NoChanged15.3K ₳History
Earlier votes
Yes1y agoSuperseded
- Yes14.3K ₳Rationale
I support the 300M ADA NCL for 2025-2026 to enforce fiscal discipline, restricting the current 350M NCL and aligning more closely with treasury inflows and my preference for a 200M NCL.
This ceiling, covering 2025 and much of 2026, ensures development continuity while pressuring Treasury Withdrawal actions to further justify their proposals and amounts asked. My Eckklesia Budget Poll choices (~196M ADA) will reflect my voting on Treasury Withdrawals going forward, omnibus bills will be voted down. - Abstain10.9K ₳No rationale
- Yes10.2K ₳No rationale
- Yes9.2K ₳No rationale
- No6.8K ₳No rationale
- Yes5.7K ₳No rationale
- Yes5.4K ₳No rationale
- Yes4.1K ₳No rationale
- Yes3.6K ₳No rationale
- Abstain3.4K ₳No rationale
- No3K ₳No rationale
- No2.4K ₳No rationale
- Yes1.7K ₳No rationale
- Yes1.6K ₳No rationale
- No684.6 ₳No rationale
- Yes675.6 ₳No rationale
- Yes335.9 ₳No rationale
- No24.1 ₳No rationale
- No0 ₳No rationale
- Abstain0 ₳No rationale
- Yes0 ₳No rationale
- Yes0 ₳No rationale
- No0 ₳No rationale