Withdraw ₳11,070,323 for TWEAG's Proposals for multiple core budget project...
6 of 7 committee members voted
- Cardano Atlantic Council07e0eb70…5bdeYesResigned · term ends epoch 580Rationale
We find this governance action, as proposed, to be constitutional.
The proposal titled "Withdraw ₳11,070,323 for TWEAG's Proposals for multiple core budget project..." is constitutional. Per our constitutionality review, all relevant articles, guardrails, and other requirements of constitutionality were met.
- Cardano Foundation6796d87d…c280YesExpired · term ends epoch 580Rationale
All 39 Treasury Withdrawal Governance Actions listed below, submitted under the approved "2025 Cardano Blockchain Ecosystem Budget", have been reviewed and are found to be Constitutional. This rationale details the constitutional framework and the verification methodology applied to each action.
A PDF version of this rationale is also made available.
To ensure efficiency and clarity, this single rationale addresses the 39 distinct treasury withdrawals that execute the community-approved aggregate budget (gov_action1u9x...k2phgh). The purpose of these actions is to enact the "2025 Cardano Blockchain Ecosystem Budget", a budget that is currently in effect (Article IV, Sections 1 and 3). Each withdrawal was assessed against a common set of constitutional requirements derived from the parent budget, and each was individually verified for procedural and data integrity.
Verification Methodology
To ensure a diligent and verifiable review of all 39 actions, a systematic verification process was employed. A purpose-built script was created to programmatically check each action against its metadata and the parent budget. The script and a detailed report of its findings are publicly available and permanently stored on IPFS, ensuring full transparency of the assessment process.
- Verification Script:
ipfs://bafkreibdaehf2i66hjpy5zgaomrndcxnontt3d7xbkzrykng4ygsu7fz6e - Verification Report:
ipfs://bafkreihxuwqphxc2ubwstezqiwg3mnhrmdlf2vujbg4ezcyzsedrcupwt4
Common Constitutional Framework
All 39 proposals were found to be in alignment with the following foundational requirements:
- Tenets & Purpose (Article I, Section 1): The proposals align with the Tenets of the Cardano Blockchain.
- Net Change Limit (Article IV, Section 3, TREASURY-02a): The total requested amount of 275,031,507 ada across 39 withdrawals is within the adjusted Net Change Limit of 348,500,000 ada (reduced from the approved 350M ada NCL in
gov_action1nd3t833j7v5sz65k3tp9yyvztw60sjcjgcgjr37682s3m7frwrusqmd2k80following the ratified 1.5M ada Amaru Treasury Withdrawal (gov_action1vrkk4dpuss8l3z9g4uc2rmf8ks0f7j534zvz9v4k85dlc54wa3zsqq68rx0). Even if all live treasury withdrawals on-chain are approved, the treasury balance remains within this limit (Article IV, Section 3). - Audit & Dispute Resolution (Article IV, Section 4): All proposals satisfy the requirements for accountability and oversight. Each explicitly allocates funds for a "3rd Party Assurer" responsible for independently verifying project milestones. Furthermore, each proposal commits to an off-chain legal contract that includes clear provisions for dispute resolution.
- Denomination in ADA (Appendix I, TREASURY-03a): As required, all 39 withdrawal requests are denominated in ada.
Individual Verification Checklist & Results
Each Treasury Withdrawal Governance Action was individually reviewed. The table below summarizes the results of this verification. A "YES" indicates the requirement was successfully met.
Proposal Title Governance Action Treasury Withdrawal ID Requested Amount (ADA) Amount Match Budget Match Recipient Match Purpose Match Delegation Check Denomination Check Constitutional Assessment 2025 Input Output Engineering Core Development Proposal gov_action13tf...6d98zp 96,817,080 YES YES YES YES YES YES Constitutional Catalyst 2025 Proposal by Input Output: Advancing Decentralised Community Innovation Funding & Infrastructure gov_action13tf...ywvhcq 69,459,000 YES YES YES YES YES YES Constitutional Input Output Research (IOR): Cardano Vision - Work Program 2025 gov_action13tf...hm6e8q 26,848,000 YES YES YES YES YES YES Constitutional A member-based organization for the Cardano ecosystem: Intersect gov_action13tf...tyw3h6 15,750,000 YES YES YES YES YES YES Constitutional Cardano Builder DAO gov_action13tf...u7pqqr 12,000,000 YES YES YES YES YES YES Constitutional TWEAG’s Proposals for multiple core budget projects for Cardano 2025 gov_action13tf...dh2k4c 11,070,323 YES YES YES YES YES YES Constitutional Unveiling the First Unified Global Events Marketing Strategy for Cardano gov_action13tf...q3z9u5 6,000,000 YES YES YES YES YES YES Constitutional Cardano Summit 2025 and regional tech events gov_action13tf...n5rx0e 6,000,000 YES YES YES YES YES YES Constitutional OSC Budget Proposal - Paid Open Source Model for Sustainable Development gov_action13tf...qx0ecg 5,885,000 YES YES YES YES YES YES Constitutional Expanding Stablecoin / Cardano Native Asset Support / Fiat Ramps gov_action13tf...30y0dn 4,000,000 YES YES YES YES YES YES Constitutional Ecosystem Exchange Listing and Market Making service pool gov_action13tf...dq823y 3,126,000 YES YES YES YES YES YES Constitutional High-yield RWA Asset for Cardano : Tokenized Real Estate gov_action13tf...z29v77 3,000,000 YES YES YES YES YES YES Constitutional Midgard - Optimistic Rollups gov_action13tf...fgyy3v 2,162,096 YES YES YES YES YES YES Constitutional Complement Catalyst: Extended Quadratic Funding—Zero Operational Costs gov_action13tf...0mqrnw 1,500,000 YES YES YES YES YES YES Constitutional Blockfrost Platform community budget proposal gov_action13tf...xzxz7k 1,300,000 YES YES YES YES YES YES Constitutional zkFold ZK Rollup gov_action13tf...tnrdnx 1,161,000 YES YES YES YES YES YES Constitutional Cardano Ecosystem Pavilions at Exhibitions gov_action13tf...79xfzf 889,500 YES YES YES YES YES YES Constitutional Cardano Product Committee: Community-driven 2030 Cardano Vision and 2026 roadmap insights collection via workshops and structured product research gov_action13tf...t5eumh 750,000 YES YES YES YES YES YES Constitutional ZK Bridge gov_action13tf...7jt4x4 700,000 YES YES YES YES YES YES Constitutional Scalus - DApps Development Platform gov_action13tf...4s2af8 657,692 YES YES YES YES YES YES Constitutional A free Native Asset CDN for Cardano Developers gov_action13tf...66gmxa 605,000 YES YES YES YES YES YES Constitutional Complete Web3 developer stack to make Cardano the smart contract layer for Bitcoin gov_action13tf...nrw6t9 600,000 YES YES YES YES YES YES Constitutional Beyond Minimum Viable Governance: Iteratively Improving on Cardano Voltaire gov_action13tf...htd5td 592,780 YES YES YES YES YES YES Constitutional Eternl Maintenance gov_action13tf...x4t762 583,000 YES YES YES YES YES YES Constitutional Gerolamo - cardano node in typescript gov_action13tf...zags6z 578,571 YES YES YES YES YES YES Constitutional Hardware Wallets Maintenance gov_action13tf...488pdm 424,800 YES YES YES YES YES YES Constitutional PyCardano gov_action13tf...c3clg6 314,800 YES YES YES YES YES YES Constitutional Ledger App Rewrite gov_action13tf...0vdlhj 300,000 YES YES YES YES YES YES Constitutional Cexplorer.io – Developer-Focused Blockchain Explorer for Cardano gov_action13tf...flfc4s 266,667 YES YES YES YES YES YES Constitutional MLabs Core Tool Maintenance & Enhancement: Plutarch gov_action13tf...3cfnf0 243,478 YES YES YES YES YES YES Constitutional Dolos: Sustaining a Lightweight Cardano Data Node gov_action13tf...ufvuyl 220,914 YES YES YES YES YES YES Constitutional UTxO RPC: Sustaining Cardano Blockchain Integration gov_action13tf...yeptuu 220,914 YES YES YES YES YES YES Constitutional Pallas: Sustaining Critical Rust Tooling for Cardano gov_action13tf...huqg03 220,914 YES YES YES YES YES YES Constitutional AdaStat.net Cardano blockchain explorer gov_action13tf...cp0jyh 212,000 YES YES YES YES YES YES Constitutional OpShin - Python Smart Contracts for Cardano gov_action13tf...y7m65d 199,911 YES YES YES YES YES YES Constitutional Lucid Evolution Maintenance gov_action13tf...ckzwqt 130,903 YES YES YES YES YES YES Constitutional MLabs Research towards Tooling for Elliptical Curves - GrumpleStiltSkin gov_action13tf...f074ea 104,347 YES YES YES YES YES YES Constitutional BloxBean Java Tools Maintenance and Enhancement gov_action193l...gl2qg0 99,600 YES YES YES YES YES YES Constitutional MLabs Core Tool Maintenance & Enhancement: Cardano.nix gov_action18ne...66459t 45,217 YES YES YES YES YES YES Constitutional Checklist Column Descriptions:
- Amount Match: Confirms that the on-chain requested amount matches the amount specified in the off-chain metadata.
- Budget Match: Confirms that the requested amount matches or is lower than the amount specified in the approved budget.
- Recipient Match: Confirms that the on-chain recipient address matches the address specified in the off-chain metadata.
- Purpose Match: Confirms that the purpose of the withdrawal aligns with the parent budget and the off-chain metadata.
- Delegation Check: Confirms that the recipient address is not delegated to an SPO and is delegated to the predefined "alwaysAbstain" voting option.
- Denomination Check: Confirms that the withdrawal request is correctly denominated in ada as per TREASURY-03a.
Based on the review documented above, all 39 proposals are found to be compliant with the Cardano Constitution.
- Verification Script:
- Eastern Cardano Council2ea7a78e…10ecYesExpired · term ends epoch 580Rationale
We have determined that this treasury withdrawal governance action is constitutional.
The governance action with ID "gov_action13tf...dh2k4c" and title "Withdraw ₳11,070,323 for TWEAG's Proposals for multiple core budget project..." is a Treasury Withdrawal, so is subject to the following sections and guardrails in the Cardano Constitution.
ARTICLE III, Section 5 of the Cardano Constitution states "In order to promote transparency in the process of on-chain governance, prior to being recorded or enacted on-chain, all proposed governance actions are expected to follow a standardized and legible format including a URL and hash of all documented off-chain content to the Cardano Blockchain. Sufficient rationale shall be provided to justify the requested change to the Cardano Blockchain. The rationale shall include, at a minimum, a title, abstract, reason for the proposal, and relevant supporting materials. The content of every on-chain governance action must be identical to the final off-chain version of the proposed action."
This governance action includes a valid URL and hash, which matches the hash of the off-chain documentation referenced. The rationale also meets the minimum content specified in this section.
Additionally; ARTICLE IV, Section 3, Paragraph 1 states "Withdrawals from the Cardano Blockchain treasury that would cause the Cardano Blockchain treasury balance to violate the then applicable net change limit shall not be permitted."
The net change limit in effect at the time of submission of this vote on-chain, is the governance action with ID "gov_action1nd3...md2k80".
- A. Current NCL Amount: 350000000 ada
- B. Current NCL Time Period: Epoch 532 to epoch 604 (Inclusive)
- C. Total of Treasury Withdrawals within the Current NCL Time Period: 1500000 ada
- D. Amount of this Treasury Withdrawal: 11070323 ada
- E. "C" plus "D" = 12570323 ada
- F. "A" minus "E" = 337429677 ada
As the value of "F" is greater than or equal to zero, this governance action does not violate the net change limit and therefore fulfils the requirement in this section.
Additionally; ARTICLE IV, Section 4 states
Any governance action requesting ada from the Cardano Blockchain treasury shall require an allocation of ada as a part of such funding request to cover the cost of periodic independent audits and the implementation of oversight metrics as to the use of such ada. Contractual obligations governing the use of ada received from the Cardano Blockchain treasury pursuant to a Cardano Blockchain ecosystem budget shall include dispute resolution provisions."This governance action specifies the following:
"Acceptance of the above work is expected to be supported by a 3rd Party Assurer, who will be responsible for reviewing and signing off the work completed at each project milestone against the corresponding milestone deliverables detailed within the Legal Contract. This work is funded from a portion of this treasury withdrawal."
While there were some concerns that simply stating "is expected to be supported by" is not definitive enough and that "This work is funded from a portion of this treasury withdrawal." does not specify how much ada is allocated, we determined that this does still fulfil the requirement in this section.
Additionally; Article VII, Section 6 states "Any ada received from a Cardano Blockchain treasury withdrawal, so long as such ada is being held directly or indirectly by an administrator prior to further disbursement, must be kept in one or more separate accounts that can be audited by the Cardano Community, and such accounts shall not be delegated to an SPO but must be delegated to the predefined auto abstain voting option."
This governance action specifies the following withdrawal address, which at the time of assessment was not delegated to an SPO and is delegated to the auto abstain voting option:
- stake17xzc8pt7fgf0lc0x7eq6z7z6puhsxmzktna7dluahrj6g6ghh5qjr
Finally; the guardrails that require consideration for this governance action are TREASURY-01a, TREASURY-02a, TREASURY-03a and TREASURY-04a. These are addressed as follows:
- TREASURY-01a - The net change limit with governance action ID "gov_action1nd3...md2k80" is currently in effect, after being "agreed by the DReps via an on-chain governance action with a threshold of greater than 50% of the active voting stake".
- TREASURY-02a - As per the above assessment, this treasury withdrawal does not exceed the current net change limit.
- TREASURY-03a - This treasury withdrawal is denominated in ada.
- TREASURY-04a - This governance action specifies that it relates to the budget in governance action "gov_action1u9x...k2phgh", which was "agreed by the DReps with a threshold of greater than 50% of the active voting stake".
We therefore find this governance action Constitutional.
This governance action sufficiently fulfils the criteria specified for treasury withdrawals in the Cardano Constitution, so is deemed constitutional.
- Emurgodc2b0706…89b8YesExpired · term ends epoch 580Rationale
EMURGO, as a member of the ICC, votes YES on the governance action to fund this treasury withdrawal, concluding it is constitutional based on the rationale below.
After a detailed review of the proposal and its supporting documentation, EMURGO finds that it aligns with the requirements of the Cardano Blockchain Ecosystem Constitution:
Article IV, Section 1: This treasury withdrawal is linked to a previously approved on-chain budget info action, providing a clear foundation for its legitimacy within Cardano’s governance process.
Article IV, Section 2: The proposal designates a responsible administrator and outlines transparent oversight mechanisms, including the use of smart contracts and blockchain-native tools, consistent with decentralized governance principles.
Article IV, Section 3: The requested funds are drawn from a budget that remains active and has not been deemed unconstitutional.
Article IV, Section 4: Provisions for audits, defined oversight metrics, and clear reporting paths are included, supporting accountability in the use of treasury funds.
Article IV, Section 5: The proposal commits to using separate, auditable accounts. On-chain checks confirm the provided stake address is not delegated to an SPO and is delegated to the predefined auto-abstain option.
Treasury Guardrails – Appendix I
The withdrawal is within the net change limit (TREASURY-01a, TREASURY-02a).
It is denominated in ADA (TREASURY-03a).
It aligns with a previously authorized budget (TREASURY-04a).
Additional Context
This proposal is part of a broader series of 39 treasury withdrawals submitted by Intersect on behalf of multiple vendors, following the approval of a budget info action. EMURGO observed that all proposals utilize a shared template, with constitutional elements consistently embedded across the series. While each includes vendor-specific details, the overall structural and constitutional alignment is primarily delivered through these templated sections. The standardized format, along with verified metadata, proposal hashes, and author signatures, reinforces the constitutional integrity of each submission.
This governance action meets the requirements set out in the Cardano Blockchain Ecosystem Constitution and complies with applicable treasury guardrails. EMURGO affirms its constitutionality and supports its progression within Cardano governance.
- Input | Output3c9ebce6…1e4cYesExpired · term ends epoch 580Rationale
Input Output finds "Withdraw ₳11,070,323 for TWEAG's Proposals for multiple core budget project..." constitutional, fulfilling all requirements for a Treasury Withdrawal Action.
The following points confirm the constitutionality of the proposed treasury withdrawal, in accordance with the articles and appendices of the Cardano Blockchain Ecosystem Constitution:\n\n- The proposed governance action has been reviewed and is found to be in alignment with the foundational Tenets of the Cardano Blockchain (Article I, Section 1).\n\n- The governance action adheres to the mandated standards for transparency and legibility, including a URL and a hash of all documented off-chain content. Furthermore, the content of the on-chain governance action matches the expectations set forth in the corresponding budget info action (Article III, Section 5).\n\n- This withdrawal from the Cardano Blockchain treasury is set to enact a Cardano Blockchain ecosystem budget that is currently in effect (Article IV, Sections 1 and 3). You can find the budget info action associated with this Treasury Withdrawal Governance Action here, on chain: gov_action1u9x...k2phgh\n\n- The amount of ada specified in this withdrawal does not cause the Cardano Blockchain treasury balance to violate the net change limit (NCL) that is currently in effect, even assuming that all treasury withdrawals presently live on chain are passed (Article IV, Section 3). You can find the net change limit governance action here, on chain: gov_action1nd3...md2k80\n\n- The funding request for this governance action includes a specific allocation of ada to cover the costs associated with periodic independent audits and the implementation of necessary oversight metrics. Additionally, the contractual obligations governing the use of these funds can be expected to stipulate clear dispute resolution provisions (Article IV, Section 4).\n\n- The terms of this withdrawal mandate that any ada received and held by an administrator prior to its final disbursement must be maintained in one or more separate, auditable accounts. These accounts shall not be delegated to a Stake Pool Operator (SPO) but must be delegated to the predefined "auto abstain" DRep (Article IV, Section 5).\n\n- This Treasury Withdrawal is denominated entirely in ada, as required by the Guardrails (Appendix I, Section 3, TREASURY-03a).\n\nTherefore, based on the analysis above, this Treasury Withdrawal Governance Action fulfills all applicable requirements with one contingency. Treasury withdrawals may be made from the Cardano Blockchain treasury as necessary from time to time to give effect to the Cardano Blockchain ecosystem budget or budgets then in effect (Article IV, Section 1). Additionally, treasury withdrawal requests that do not violate the then applicable Net Change Limit and are not inconsistent with the previously approved budget to which the withdrawal relates satisfy constitutional requirements. Accordingly, our view is that the role of DReps in approving a Treasury Withdrawal Governance Action is to confirm its adherence to the budget in effect, including funding for the administrator. If funding is not approved for the administrator, any Treasury Withdrawal under that budget may become unconstitutional if there is no administrator or the designated administrator is unable to perform its required duties as a result of lack of funding. If DReps wish to reject a Treasury Withdrawal based on merit, this should instead be done by amending the budget. Subject to the foregoing, at the time of writing, this Treasury Withdrawal is found to be consistent with the Cardano Constitution.
- Intersect Constitutional Council85c47dd4…bf64YesExpired · term ends epoch 580Rationale
The Intersect Constitutional Council votes the treasury withdrawal governance action “8ad3d454f3496a...33e#14” to be constitutional.
During the assessment of the 39 treasury withdrawal governance actions it became clear that a template has been used, with identical sections repeated across all 39 while each individual proposal contained their own vendor/project-specific sections within. It was therefore identified that the majority of the constitutional alignment was satisfied by the templated sections and while each individual proposal has been assessed for completeness, the Council reiterates its role is to assess the constitutionality of proposals and not to pass any subjective judgement on the individual vendors/projects represented in each proposal.
The series of 39 treasury withdrawal governance actions have been submitted by Intersect, on behalf of multiple vendors, following the approval of the budget info action (“e14de8d9dc4f4d...91ee#0”). With regards to the standard constitutionality checks that this Council applies to all governance action types, all proposals meet the required standards of Article III Section 5. They all follow a standardized and legible format, including a URL and hash of their off-chain contents and provide a title, abstract, reasoning and relevant supporting materials. Their contents are identical to the final off-chain version of the proposals, as confirmed by the matching metadata hashes. Key elements repeated across all proposals that this Council highlighted for their constitutionality include; provided smart contract and withdrawal stake address details, valid and verifiable author signature, outlined budget management processes, on-chain withdrawal proposal amount matching that of the proposal metadata and the on-chain / off-chain content hashes matching.
Following the process taken for the first treasury withdrawal action to be submitted on-chain, the additional checks to verify a match between the withdrawal amounts put forth in the metadata and those submitted on-chain have been carried out. This has been confirmed by cross-referencing the metadata with the currently live on-chain proposal, queried via the command-line, and further supports the constitutional requirement of Article III Section 5 for the proposal to be “open, transparent and protected from undue influence or manipulation”. For clarity, the total sum of all treasury withdrawal proposals in this series of 39 proposals is 275,031,507 ada. The budget info action that these treasury withdrawals are linked to outlined a budget for 275,269,340 ada, leaving 237,833 ada remaining from the previously approved Intersect budget. This can be attributed to 2 proposals lowering their requested amounts and notes can be found within their respective proposals. Cardano Ecosystem Pavilions at Exhibitions lowered their request by 229,833 ada (https://gov.tools/governance_actions/8ad3d454f3496a35cb0d07b0fd32f687f66338b7d60e787fc0a22939e5d8833e#29) while Input Output Research lowered their request by 8,000 ada (https://gov.tools/governance_actions/8ad3d454f3496a35cb0d07b0fd32f687f66338b7d60e787fc0a22939e5d8833e#32), accounting for the total 237,833 ada difference between budget info action and the combined treasury withdrawal requests.
As with the previous treasury withdrawal action to be submitted on-chain the majority of the constitutionality focus centred around Article IV. The series of 39 treasury withdrawal actions are linked to a previously approved on-chain budget info action (Article IV Section 1) and each specifies a process for overseeing the use of funds from Cardano Blockchain treasury withdrawals including designating one or more administrators who shall be responsible for oversight (Article IV Section 2). The combined total of all 39 treasury withdrawal proposals is 275,031,507 ada and after taking into account the only other approved treasury withdrawal of 1.5 million ada, even should they all pass they would not cause the Cardano Blockchain treasury balance to violate the currently applicable net change limit of 350 million ada, previously established by the approval of governance action “9b62b3c632f329...70f9#0”. The treasury withdrawal actions are also made pursuant to a budget that is in effect and that has not been deemed unconstitutional by the ICC (Article IV Section 3).
The proposals outline in detail the intended management structure for the withdrawal funds, among which includes a Treasury Reserve Smart Contract (TRSC) and Project-Specific Smart Contracts (PSSC), a stake address has also been provided (see https://cardanoscan.io/stakekey/f18583857e4a12ffe1e6f641a1785a0f2f036c565cfbe6ff9db8e5a469).
The Constitution mandates that any treasury withdrawal funds must not be staked with an SPO and must be delegated to the predefined auto-abstain voting option (Article IV Section 5). Following checks using Cardano blockchain explorers it can be confirmed that, as of 23 July 2025, the provided treasury withdrawal stake address is not delegated to an SPO and is delegated to the predefined auto-abstain voting option.
Lastly, the proposals satisfy the treasury guardrails TREASURY-02a, TREASURY-03a and TREASURY-04a in Appendix I Section 3. That is to say, they are made pursuant to a previously approved budget, do not exceed the net change limit and are denominated in ada.
The Intersect Constitutional Council considers this treasury withdrawal action to be Constitutional.
- Cardano Japan Council (ICC)4012cab5…0755Not votedExpired · term ends epoch 580No rationale