Withdraw 120,000,000 ada for AlphaGrowth’s Cardano PRIME

This Treasury Withdrawal funds Cardano PRIME, a 12-month community-overseen program to improve DeFi protocol readiness, responsibly activate incentives, and grow durable liquidity across Cardano markets. The withdrawal requests ₳120,000,000, with USD figures included only as planning references at the $0.16/ADA assumption.

PRIME is executed by AlphaGrowth under Operating Group oversight. Intersect acts as Constitutional Administrator and manages the withdrawn funds directly. Program funds are released through milestone-gated and action-gated processes, including a Month 4 Phase 3 release gate, published recommendations and disbursement records, independent audit or assurance funding, a separate auditable account, abstain delegation while funds are held before disbursement, and return-to-treasury triggers for unused, unearned, or unreleased funds.

This withdrawal is conditional on an applicable Net Change Limit having been agreed under TREASURY-01a and having enough remaining capacity to cover the withdrawal in full at enactment.

Cardano has made material infrastructure progress through USDCx, LayerZero, Pyth, Dune, and other ecosystem additions, but that infrastructure has not yet converted into enough durable DeFi liquidity, application depth, LP participation, or institutional awareness. As of June 2026, Cardano DeFi has approximately $90M in TVL and $45M in stablecoin supply, leaving substantial room relative to comparable ecosystems.

The core problem is not simply low headline TVL. It is fragmented liquidity, inefficient liquidity, limited advanced liquidity products, limited risk and insurance tooling, and low external distribution. DeFi activity, fee generation, and capital retention are central to long-term treasury sustainability, so the proposal funds a structured program to turn existing infrastructure into retained economic activity.

PRIME addresses the problem through a phased operating model: Phase 1 establishes a public current-state audit; Phase 2 identifies integration, product, and ecosystem-support gaps; and Phase 3 deploys incentives and capital only after the Operating Group affirms the Phase 3 release plan.

The model separates recommendations, oversight, and custody. AlphaGrowth produces analyses, recommendations, and disbursement memos. The Operating Group reviews and may veto or condition material actions. Intersect manages the withdrawn funds into a separate auditable account; disbursements are executed through the program's published recommendation and review process. The Operating Group does not hold program funds, and AlphaGrowth does not unilaterally hold or control program funds.

The request is denominated in ada, includes a dedicated ₳2,000,000 independent audit or assurance allocation, uses objective eligibility and conflict-of-interest protections, reports financial and ecosystem impact metrics quarterly, and defines six return triggers for unused, unearned, unreleased, or excess funds. The performance fee is tied to verified qualifying TVL growth, with ADA price effects and non-PRIME attributable TVL excluded under the attribution methodology.

Prior Treasury Funding Disclosure

AlphaGrowth has not received Cardano Treasury funding within the prior 24 months.

Intersect Budget Management Tooling

To administrate treasury funds, Intersect will utilize the treasury management smart contract framework developed by Sundae Labs in conjunction with custody solutions as required.

The 2026 Treasury Reserve Smart Contract stake address: stake1784sdxt6jjennmstphgdu7l7c2scf5d02a6cve2dgn5s2kq5u3j9v
The 2026 Treasury Reserve Smart Contract payment address: addr1x84sdxt6jjennmstphgdu7l7c2scf5d02a6cve2dgn5s2k8tq6vh499n88hqkrwsmealas4psng674m4sej5638fq4vqmxs59w
The 2026 Project Specific Smart Contract payment address: addr1x9d6k9z6t6fvsetj2djmerargk475lef9gfvshy4rwh4h7jm4v295h5jepjhy5m9hj86x3dtafljj2sjepwf2xa0t0aq048cay