Withdraw 25,400,000 ada for Intersect: Governance coordination and technical ...
7 of 7 committee members voted
- Ace Alliance71aa5b3a…8f04YesActive · term ends epoch 726Rationale
Ace Alliance finds the proposed "Withdraw 25,400,000 ada for Intersect: Governance coordination and technical ..." Treasury Withdrawals Governance Action constitutional. Rationales are archived at https://github.com/ace-alliance/ace-voting/
A PDF version of this rationale is also made available.
"Withdraw 25,400,000 ada for Intersect: Governance coordination and technical ..." (gov_action1k02...x6wlxf) is a Treasury Withdrawals Governance Action and is therefore governed by both the general proposal standards in Article II, Section 6 and the additional Treasury Withdrawal standards in Article II, Section 7 of the Cardano Constitution. The Action seeks to withdraw 25,400,000 ada from the Cardano Treasury to fund Intersect's governance coordination and technical stewardship for the Cardano ecosystem across three work packages: Intersect operations and ecosystem coordination at 6,000,000 ada, technical stewardship, incident response, and coordination including core Cardano repositories at 18,800,000 ada, and management of critical processes making up the remainder of the request, with the overall ask reduced from the prior year's 7.875 million USD to 6.35 million USD. The Action was submitted by Intersect and funds Intersect itself, with Intersect serving as administrator under its 2026 Treasury Reserve Smart Contract framework. The underlying proposal was socialized and approved off-chain through the Cardano Budget Process led by Intersect before being submitted on-chain. Because the proposer, the administrator, and the recipient coincide here, we note that concentration of roles once and address it under Article II.7.5 below.
Article II.6's procedural standards are satisfied. The action anchors to an IPFS-hosted document with the on-chain blake2b-256 hash 9130db2497759698cad480adb9784ad83387936d4aa7652dcf85104f03ff94ba, a content-addressed form that is immutable once posted, and the metadata supplies the title, abstract, motivation, rationale, budget summary, and supporting references that Article II.6.2 requires. Article II.7.1's terms-of-withdrawal requirement is met by the proposal's specification of purpose, a twelve-month operating period, itemized costs (the three work packages itemized above), and the disbursement and return mechanics of the Treasury Reserve Smart Contract framework, under which funds are released against milestones outlined in the metadata and undisbursed funds can be returned to the Cardano Treasury through the framework's Sweep action. Article II.7.2's disclosure requirement is satisfied: Intersect discloses that it and its committees have received treasury funding within the past 24 months and itemizes the relevant governance actions with their on-chain identifiers, including the 15,750,000 ada MBO withdrawal. Article II.7.3 is satisfied because the 25,400,000 ada requested here is well within the 350,000,000 ada Net Change Limit in force for the period spanning epochs 613 through 713, on its own and in aggregate with the other withdrawals pending at the time of submission.
Articles II.7.4, II.7.5, and II.7.6 are satisfied through the Intersect-administered Treasury Reserve Smart Contract pattern previously found constitutional by this Committee. Under Article II.7.5, the administrator and the recipient coincide because the withdrawal funds Intersect itself. The structural safeguard the Article requires nevertheless exists at the moment of withdrawal: the funds are directed to the script-locked Treasury Reserve Smart Contract rather than to any address the recipient unilaterally controls, and no disbursement can occur without multi-signature authorization that includes external Oversight Committee entities. Intersect operates the 2026 instance of the Sundae-Labs-developed TRSC framework, which mirrors the contracts used in the 2025 budget cycle, with a Project-Specific Smart Contract for this withdrawal. An Oversight Committee of six external, independent third-party entities provides the checks against unilateral administrative control, with explicit multi-signature authorization rules for each TRSC action type, including Fund, Disburse, Pause and Resume, Sweep, and Reorganize. A written off-chain Legal Contract governs delivery, and funds move to the Project-Specific Smart Contract only once that contract is prepared, with all milestones outlined within the metadata. Under Article II.7.4, audit and oversight costs are included within the overhead applied to the proposal, the Intersect administration fee covers administrative oversight, independent oversight is provided through Intersect and a technically capable third party with reporting obligations and milestone-based disbursement controls, and a public dashboard allows the community to audit TRSC and PSSC activity on-chain. Under Article II.7.6, the on-chain withdrawal destination is stake1784sdxt6jjennmstphgdu7l7c2scf5d02a6cve2dgn5s2kq5u3j9v, which is a script-locked stake address (CIP-19 mainnet header byte 0xf1), is not delegated to any stake pool, and is delegated to the predefined always-abstain DRep, each of which we verified on-chain at the time of this review.
Ace Alliance finds the proposed "Withdraw 25,400,000 ada for Intersect: Governance coordination and technical ..." Treasury Withdrawals Governance Action constitutional.
- Cardano Curia84feba94…6bd5YesActive · term ends epoch 799Rationale
Cardano Curia finds the Treasury Withdrawal for Intersect: Governance Coordination and Technical Support constitutional.
What is being proposed
This Treasury Withdrawal funds Intersect governance coordination and technical support activities. The requested amount is 25,400,000 ada.
Constitutional assessment
Cardano Curia reviewed this action as a Treasury Withdrawal under the Constitution's governance-action standards and treasury-withdrawal requirements. The relevant requirements include a clear purpose and delivery period, disclosure of costs and refund circumstances, prior-funding disclosure, compliance with the applicable Net Change Limit, funded independent audit and oversight, designated administrators, and segregated auditable accounts delegated to the predefined abstain option while held before disbursement.
The proposal supports decentralized governance operations and technical coordination. Its larger scale makes milestone controls, public reporting, conflict disclosures, and independent assurance especially important; the constitutional finding relies on those published controls remaining binding.
The action is also consistent with the constitutional tenets concerning fair treatment, reasonable use of blockchain resources, recognition of ecosystem contributions, preservation of value, and long-term sustainability, provided that the published administration, reporting, audit, milestone, and return-to-treasury commitments remain binding throughout execution.
Determination
Cardano Curia finds the action constitutional. This is a determination of constitutional compliance, not a guarantee of delivery performance or financial return.
Cardano Curia finds governance action b3d452bff7769d...0ccf#4 constitutional and records five internal votes for constitutional, with no votes for unconstitutional or abstain.
- Cardano Japan Council725d4d44…7b31YesExpired · term ends epoch 653Rationale
We consider this governance action to be constitutional.
This proposal is a Treasury Withdrawal Governance Action to withdraw ₳25,400,000 from the Cardano Treasury in connection with Intersect's "Intersect: Governance coordination and technical stewardship for the Cardano ecosystem." This proposal met the 67% support threshold required during the Hydra voting phase of the 2026 Intersect budget process and has proceeded to the submission of an on-chain Treasury Withdrawal Governance Action in accordance with the approved budget process framework. This proposal references the proposal document on IPFS and presents the proposal's title, summary, rationale, justification, and related supplementary materials. These elements comply with the requirements of Article 2, Section 6, Paragraphs 1 and 2 of the Cardano Constitution. Regarding Article 2, Section 7, Paragraph 1, this proposal aims to facilitate governance coordination, technical stewardship, incident response, and the management of critical processes within the Cardano ecosystem; the supplementary materials specify a 12-month implementation period. Additionally, it presents a breakdown of costs for the three Work Packages and outlines a policy for returning funds to the Cardano Treasury—including funds no longer needed for approved purposes, funds that cannot be responsibly deployed, or funds remaining unused after the completion of defined programs. Regarding Article 2, Section 7, Paragraph 2, the proposal discloses the relevant Governance Actions, Governance Action IDs, amounts, and totals for funds received by Intersect and its committees within the past 24 months through previous Treasury Withdrawal Governance Actions. Regarding Article 2, Section 7, Paragraph 3, this proposal confirms that the requested amount of ₳25,400,000 falls within the ₳350,000,000 Net Change Limit covering Epochs 613 through 713. Regarding Article 2, Section 7, Paragraph 4, this proposal stipulates an independent audit and assurance by Appold and outlines a review that may include verification of deliverables, control testing, expenditure verification, and evaluation of milestone evidence. It also stipulates milestone-based withdrawals, evidence-backed reporting, and transparent disclosure. Regarding Article 2, Section 7, Paragraph 5, this proposal explicitly states that Intersect will act as the Administrator of this proposal and will implement milestone-based disbursements, supporting evidence for payments, transparent reporting, and independent third-party assurance for related deliverables. Regarding Article 2, Section 7, Paragraph 6, this proposal presents a fund management mechanism utilizing the Treasury Reserve Smart Contract and the Project-Specific Smart Contract. It outlines the process by which funds are directed to the Treasury Reserve Smart Contract upon enactment and transferred to the Project-Specific Smart Contract once the legal contract is prepared and the vendor is ready, as well as the approval structure required for management actions and oversight by an external Oversight Committee. It also states that the TRSC and PSSC cannot be staked with an SPO and are delegated to the predefined auto-abstain DRep. Therefore, as no clear conflict with the Cardano Constitution has been identified, this proposal is deemed constitutional.
For the reasons stated above, we determine that it is constitutional.
- KtorZ64f97568…3a49YesExpired · term ends epoch 653Rationale
Ok
A PDF version of this rationale is also made available.
The proposal funds Intersect's operational activities supporting Cardano's governance, technical coordination, and ecosystem resilience, including incident response, repository stewardship, governance processes, and ecosystem coordination. It therefore presents a reasonable case for advancing the long-term sustainability of Cardano under Article I - Section 1.
The proposal identifies an administrator, specifies independent audit and assurance arrangements through Appold, defines custody through dedicated treasury management smart contracts, provides transparent on-chain administration, clearly discloses previous Treasury funding received by Intersect and its committees, and remains compliant with the applicable Net Change Limit.
While the proposal encompasses a broad range of operational and coordination activities, it articulates how these activities support Cardano's governance and technical resilience and provides sufficient information for constitutional assessment. I do not identify any material omissions or ambiguities that would affect that assessment.
Hence, I do not identify a clear constitutional violation and consider the proposal constitutionally compliant.
- Phil_uplc68bb0b42…8746YesActive · term ends epoch 799No rationale
- Tingvard646d1b3a…be43YesActive · term ends epoch 726Rationale
Tingvard judges the “Intersect: Governance coordination and technical stewardship for the Cardano ecosystem” Treasury Withdrawal governance action constitutional.
Tingvard judges the “Intersect: Governance coordination and technical stewardship for the Cardano ecosystem” Treasury Withdrawal governance action constitutional.
Rationale statement
This governance action requests 25,400,000 ADA from the Cardano Treasury to fund Intersect’s governance coordination, technical stewardship, incident response, release coordination, repository stewardship, and management of critical ecosystem processes.The proposal identifies the purpose of the withdrawal, the amount requested, the delivery period, and the intended scope of work. It states that funding will support Intersect operations and ecosystem coordination, technical stewardship and incident response, and management of critical processes.
The proposal discloses prior Cardano Treasury funding received by Intersect and its committees within the past 24 months, including the relevant governance action IDs and amounts.
The proposal states that the requested amount does not, at the time of submission, breach the applicable 350M Net Change Limit covering epochs 613 to 713.
The proposal identifies Intersect as administrator and states that treasury funds will be managed through the 2026 Treasury Reserve Smart Contract and a Project-Specific Smart Contract.
The proposal includes an oversight structure. Intersect will administer the TRSC and PSSC, while an Oversight Committee consisting of Sundae Labs, Cardano Foundation, Dquadrant, NMKR, Sundial, and Eternl will provide checks and balances on certain administrative actions.
The proposal addresses custody and delegation. It states that the TRSC and PSSC cannot be staked with an SPO and are delegated to the auto-abstain predefined DRep.
The proposal includes audit and oversight provisions. It states that independent audits and assurance will be provided by Appold, alongside milestone-based drawdowns, evidence-backed reporting, and transparent disclosures.
The proposal also states that a public dashboard is available for the community to audit the TRSC or PSSC and track metrics related to the withdrawn ada.
Tingvard therefore finds that the proposal satisfies the relevant requirements for a Treasury Withdrawal governance action.
Tingvard finds the “Intersect: Governance coordination and technical stewardship for the Cardano ecosystem” Treasury Withdrawal governance action constitutional.
- Eastern Cardano Council2ea7a78e…10ecNoActive · term ends epoch 726Rationale
We have determined that this treasury withdrawal governance action is unconstitutional.
The governance action with ID “gov_action1k02...x6wlxf” and title “Withdraw 25,400,000 ada for Intersect: Governance coordination and technical ...” is a Treasury Withdrawal, so is subject to ARTICLE II, Section 7 of the Cardano Constitution. While most of the requirements under this section were met by this governance action, it did not fulfil the requirements under ARTICLE II, Section 7(1) and ARTICLE II, Section 7(4).
ARTICLE II, Section 7(1) states ""Treasury Withdrawals" actions must specify the terms of the withdrawal. This shall include: the purpose of the withdrawal, the period for delivery of proposed activities which the withdrawal shall be used for, the relevant costs and expenses of the proposed activities, circumstances under which the withdrawal might be refunded to the Cardano Treasury."
The governance action does not specify "circumstances under which the withdrawal might be refunded to the Cardano Treasury."
ARTICLE II, Section 7(4) states "Treasury Withdrawals actions 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."
While the governance action does state that "Independent audits and assurance for this proposal will be provided by Appold.", it does not refer to an allocation of ada to cover the cost of doing so.
We therefore find this governance action Unconstitutional.
This governance action does not sufficiently fulfil the criteria specified for treasury withdrawals in the Cardano Constitution, so is deemed unconstitutional.