Withdraw ₳592,780 for Beyond Minimum Viable Governance: Iteratively Improvin....
211 DReps voted · 68 with a rationale · 3 changed their vote · 2 re-voted unchanged
Open a row to read the rationale.
Changed votes: 1 to yes, 2 to abstain, together voting with 69.6M ₳ of voting power.
- Yes457.4M ₳No rationale
- Yes441.6M ₳Rationale
I will vote as necessary to help Cardano grow into a platform that supports the economic identities of billions of people. This proposal charges a fair price to achieve what is needed to achieve that.
There are no significant matters that affect the neutrality of my decision-making.
Detailed rationale and the improvements I would like to see made to the proposal are attached in the following spreadsheet "TW vote #01" or PDF.
Specifically with regards to bundled proposals, next time I would request that one of the following be implemented:
- Bundled proposals should be subject to a temperature check vote for each item.
- I would like bundled proposals to be verified or created by entities, consortia, or individuals selected by the DRep.
Spreadsheet:
https://docs.google.com/spreadsheets/d/1M8JAuAntJOa7Z6j3GfC2hWFl4kbZLkzEel_cN4-kymw/edit?usp=sharingPDF:
ipfs://bafkreianp5xhbo3ojlxqjjah4kyimr6u62uwnxd2t3lwwu3qmpn4jf4n5a私はCardanoが数十億人の経済アイデンティティを支えるプラットフォームへ成長していくために必要な投票を行います。この提案書は、それを達成するために必要な事項を実現するための正当なコストを請求しています。
私の意思決定の中立性に影響を与える重大な事項はありません。
根拠の詳細と、提案書について私が改善して欲しい点は、次のスプレッドシートの「TW vote #01」またはPDFに添付されています。
特に、バンドル型提案書に関しては、次回は、次のいずれかが実施されることをリクエストします。
- バンドル型提案書は、内訳別の温度チェックの投票を行うこと。 2. バンドル型提案書は、DRepにより選出されるエンティティやコンソーシアムや個人により、検証または作成されるようにして欲しいと思います。
Spreadsheet:
https://docs.google.com/spreadsheets/d/1M8JAuAntJOa7Z6j3GfC2hWFl4kbZLkzEel_cN4-kymw/edit?usp=sharingPDF:
ipfs://bafkreianp5xhbo3ojlxqjjah4kyimr6u62uwnxd2t3lwwu3qmpn4jf4n5a - Abstain350.3M ₳No rationale
- Yes304.6M ₳Rationale
Summary
EMURGO as DRep votes YES on the governance action to fund Beyond Minimum Viable Governance: Iteratively Improving on Cardano Voltaire based on the rationale provided below.Rationale
This proposal fills a critical gap in Cardano’s governance by introducing a structured, data-informed process to evaluate and improve how decisions are made. As governance becomes the core differentiator between Cardano and other blockchain ecosystems, continuous reflection and iteration are essential.
IOG’s leadership in delivering foundational governance frameworks like CIP-1694 and the Constitution lends strong credibility to this initiative. The proposal’s methodical approach that combines research, community feedback, and practical recommendations positions it as a high-impact enabler for long-term Cardano governance maturity. - Yes278.5M ₳No rationale
- Abstain216.7M ₳Rationale
TL;DR: EDC voted:
gov_action18ne...66459t: YES
gov_action13tf...qx0ecg: YES
gov_action13tf...nrw6t9: YES
gov_action13tf...0vdlhj: YES
gov_action13tf...ufvuyl: YES
gov_action13tf...tnrdnx: YES
gov_action13tf...ckzwqt: YES
gov_action13tf...yeptuu: YES
gov_action13tf...huqg03: YES
gov_action13tf...488pdm: YES
gov_action13tf...xzxz7k: YES
gov_action13tf...6d98zp: YES
gov_action13tf...fgyy3v: YES
gov_action13tf...f074ea: YES
gov_action13tf...t5eumh: ABSTAIN
gov_action13tf...c3clg6: YES
gov_action13tf...y7m65d: YES
gov_action13tf...hm6e8q: YES
gov_action13tf...30y0dn: YES
gov_action13tf...79xfzf: ABSTAIN
gov_action13tf...dq823y: ABSTAIN
gov_action13tf...0mqrnw: YES
gov_action13tf...u7pqqr: ABSTAIN
gov_action13tf...q3z9u5: YES
gov_action13tf...n5rx0e: YES
gov_action13tf...ywvhcq: YES
gov_action13tf...htd5td: ABSTAIN
gov_action13tf...tyw3h6: YES
gov_action13tf...cp0jyh: YES
gov_action13tf...66gmxa: YES
gov_action13tf...flfc4s: YES
gov_action13tf...4s2af8: ABSTAIN
gov_action13tf...x4t762: YES
gov_action13tf...7jt4x4: ABSTAIN
gov_action13tf...dh2k4c: YES
gov_action13tf...3cfnf0: YES
gov_action13tf...zags6z: YES
gov_action13tf...z29v77: ABSTAIN
gov_action193l...gl2qg0: YES;We refrained from voting NO on any of the actions, voted ABSTAIN where the majority of our team (7 people) determined that the impact wasn't high enough, the concept wasn't something we would want to support, or the action asked for too much.
Keep in mind, that voting ABSTAIN helps each effected proposal by lowering the absolute voting power needed to pass the action.
- Yes185M ₳No rationale
- Yes182.6M ₳No rationale
- Yes170.6M ₳Rationale
This document provides an aggregate rationale for the Cardano Foundation DRep’s votes on all Treasury Withdrawal GAs stemming from the approved “Cardano Blockchain Ecosystem Budget - 275M ada Administered by Intersect” (gov_action1u9x...k2phgh).
A PDF version of this rationale is also made available.
Our approach is designed to ensure both transparency and efficiency, applying a consistent evaluation framework (see here; the “Evaluation Framework”) to each proposal while presenting our reasoning in a single, comprehensive document.
Our current assessment remains consistent with the principles previously outlined in our public communications and our evaluation during the Ekklesia off-chain signaling phase. As no material changes have been made to the individual proposals since the overarching budget was approved, our votes on these withdrawals reflect our original assessment of them. However, we have changed our previous abstention on the Intersect proposal and our previous “No” vote for the Discover Cardano proposal to a "Yes" vote.
Fund administration clarity is a crucial consideration for our voting decisions. While this budget is approved as a package, we expect Intersect, as administrator, to manage funds diligently, provide public transparency on contracts, and ensure robust oversight, holding recipients accountable for deliverables.
Our voting decisions on the 39 treasury withdrawals are presented in the table below. The "Vote" column displays our votes. For all proposals requesting 3 million ada or more, our assessment is included in the "Note" column.
Table A – Voting Record
Governance Action ID Title Requested ADA Vote Note gov_action13tf...6d98zp 2025 Input Output Engineering Core Development Proposal 96,817,080 ABSTAIN We abstain from both the TSC and IO Engineering proposals for the following different reasons: For the TSC proposal, we abstain due to the lack of a credible execution path. Although we support the intent and approach and while we recognise the significant work that went into this proposal, the recent sudden withdrawal of administrative support by the Intersect board makes the proposal unfeasible, even if funded at this time. For the IO Engineering proposal, we abstain as we are not confident that the current version offers sufficient transparency or accountability to justify endorsement. Our concerns stem from the lack of adjustments following constructive community feedback, particularly regarding scope, cost-effectiveness, and safeguards. View Cardano Foundation feedback from 11 May here. gov_action13tf...ywvhcq Catalyst 2025 Proposal by Input Output: Advancing Decentralised Community Innovation Funding & Infrastructure 69,459,000 YES We vote ‘yes’ on this proposal as it is important to ensure continuity for the main source of grant funding for the ecosystem during a transition year for governance, especially as Project Catalyst is a funding system that the Cardano ecosystem is familiar with. As the proposal did not fully account for CF's initial budget feedback nor propose activities linked to resolving known shortcomings, we will be monitoring these areas ahead of any subsequent budget proposals by Project Catalyst gov_action13tf...hm6e8q Input Output Research (IOR): Cardano Vision - Work Program 2025 26,840,000 ABSTAIN We abstain from this proposal because we view key components of the proposed budget as materially too high, and previous feedback regarding costs and scope, including specific points raised by the Cardano Foundation on March 11 were not adequately addressed. View Cardano Foundation feedback from 11 May here. gov_action13tf...tyw3h6 A member-based organization for the Cardano ecosystem: Intersect 15,750,000 YES We adjusted our vote from ‘abstain’ to ‘yes’ on this proposal. This reflects our acknowledgement of Intersect's revised 15.75M ada budget, recognizing Intersect's shift towards leaner operations. Our initial vote to abstain based on the discrepancy between the on-chain proposal and the updated off-chain figures, which has been remedied now. We emphasize the importance of having accurate and updated details reflected directly on the Ekklesia platform for all future proposals to ensure transparency and streamline the DRep voting process. gov_action13tf...u7pqqr Cardano Builder DAO 12,000,000 YES We vote ‘yes’ on this proposal as it mitigates the dependency of Cardano on grants by exploring convertible grants to incentivise projects better. The proposal identifies and addresses the gap in post-Catalyst funding for projects needing follow-up support in focusing on achieving product market fit instead of optimising towards grant writing. gov_action13tf...dh2k4c TWEAG’s Proposals for multiple core budget projects for Cardano 2025 11,070,323 YES We vote 'yes' on this proposal as we believe supporting diverse contributors increases the resilience of Cardano, and as the proposal demonstrates a collaborative approach, accountability, and an appropriate engagement framework. gov_action13tf...q3z9u5 Unveiling the First Unified Global Events Marketing Strategy for Cardano 6,000,000 YES We vote 'yes' on this proposal as it provides a clear value proposition for Cardano. This proposal was already assessed as part of the Marketing and Growth Budget. gov_action13tf...n5rx0e Cardano Summit 2025 and regional tech events 6,000,000 YES We vote 'yes' on this proposal as it provides a clear value proposition for Cardano. This proposal was already assessed as part of the Marketing and Growth Budget. gov_action13tf...qx0ecg OSC Budget Proposal - Paid Open Source Model for Sustainable Development 5,885,000 YES We vote 'yes' on this proposal as it aligns with the Cardano Vision and Roadmap for 2025 and beyond and contributes to a sustainable developer ecosystem for Cardano. However, we still believe additional details would have strengthened this proposal further. gov_action13tf...30y0dn Expanding Stablecoin / Cardano Native Asset Support / Fiat Ramps 4,000,000 YES We vote 'yes' on this proposal as it contributes to the growth in liquidity and DeFi, which we believe is an important value proposition. gov_action13tf...dq823y Ecosystem Exchange Listing and Market Making service pool 3,126,000 YES We vote 'yes' on this proposal in line with the GMC’s voting and according to previous viability assessments. gov_action13tf...z29v77 High-yield RWA Asset for Cardano : Tokenized Real Estate 3,000,000 YES We vote 'yes' on this proposal as it supports the expansion of the RWA topic. However, there is a lack of alignment with the roadmap, which we would expect to be enhanced afterwards. gov_action13tf...fgyy3v Midgard - Optimistic Rollups 2,162,096 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...0mqrnw Complement Catalyst: Extended Quadratic Funding—Zero Operational Costs 1,500,000 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...xzxz7k Blockfrost Platform community budget proposal 1,300,000 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...tnrdnx zkFold ZK Rollup 1,161,000 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...79xfzf Cardano Ecosystem Pavilions at Exhibitions 889,500 YES We adjusted our vote from ‘no’ to ‘yes’ on this proposal. This reflects our acknowledgement of the revised scope to avoid overlapping with other proposals. gov_action13tf...t5eumh Cardano Product Committee: Community-driven 2030 Cardano Vision and 2026 roadmap insights collection via workshops and structured product research 750,000 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...7jt4x4 ZK Bridge 700,000 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...4s2af8 Scalus - DApps Development Platform 657,692 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...66gmxa A free Native Asset CDN for Cardano Developers 605,000 NO We vote ‘no’ on this proposal as it does not align with the principles of the Evaluation Framework, specifically principle 3 on Financial and Funding Mechanics. gov_action13tf...nrw6t9 Complete Web3 developer stack to make Cardano the smart contract layer for Bitcoin 600,000 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...htd5td Beyond Minimum Viable Governance: Iteratively Improving on Cardano Voltaire 592,780 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...x4t762 Eternl Maintenance 583,000 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...zags6z Gerolamo - cardano node in typescript 578,571 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...488pdm Hardware Wallets Maintenance 424,800 ABSTAIN We abstain on this proposal in accordance with the principles of the Evaluation Framework, specifically principle 2 on Committee Budget Proposals and Prior Feedback. gov_action13tf...c3clg6 PyCardano 314,800 ABSTAIN We abstain on this proposal in accordance with the principles of the Evaluation Framework, specifically principle 3 on Financial and Funding Mechanics. gov_action13tf...0vdlhj Ledger App Rewrite 300,000 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...flfc4s Cexplorer.io – Developer-Focused Blockchain Explorer for Cardano 266,667 ABSTAIN We abstain on this proposal in accordance with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...3cfnf0 MLabs Core Tool Maintenance & Enhancement: Plutarch 243,478 ABSTAIN We abstain on this proposal in accordance with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...ufvuyl Dolos: Sustaining a Lightweight Cardano Data Node 220,914 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...yeptuu UTxO RPC: Sustaining Cardano Blockchain Integration 220,914 ABSTAIN We abstain on this proposal in accordance with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...huqg03 Pallas: Sustaining Critical Rust Tooling for Cardano 220,914 ABSTAIN We abstain on this proposal in accordance with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...cp0jyh AdaStat.net Cardano blockchain explorer 212,000 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...y7m65d OpShin - Python Smart Contracts for Cardano 199,911 ABSTAIN We abstain on this proposal in accordance with the principles of the Evaluation Framework, specifically principle 3 on Financial and Funding Mechanics. gov_action13tf...ckzwqt Lucid Evolution Maintenance 130,903 ABSTAIN We abstain on this proposal in accordance with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action13tf...f074ea MLabs Research towards Tooling for Elliptical Curves - GrumpleStiltSkin 104,347 YES We vote ‘yes’ on this proposal as it aligns with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action193l...gl2qg0 BloxBean Java Tools Maintenance and Enhancement 99,600 ABSTAIN We abstain on this proposal in accordance with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. gov_action18ne...66459t MLabs Core Tool Maintenance & Enhancement: Cardano.nix 45,217 ABSTAIN We abstain on this proposal in accordance with the principles of the Evaluation Framework, specifically principle 1 on Scope and Strategic Alignment. Summary of Voting Approach
The Cardano Foundation’s votes on these 39 treasury-withdrawal governance actions are the direct execution of a single, comprehensive review process that began during the off-chain signaling phase. Although we present one aggregate rationale for efficiency, each proposal and governance action was individually assessed against a consistent framework anchored in our publicly stated principles.
Evaluation Framework
As outlined in our blog post, Navigating Budget Changes, our evaluation is guided by several core criteria. For these treasury withdrawals, our assessment focused on three primary areas:
- Strategic Alignment: We prioritized proposals that clearly align with the Cardano 2025 Vision & Roadmap and the principles of "Our Cardano." Proposals demonstrating a direct contribution to core infrastructure, ecosystem growth, decentralization, and sustainability scored highest in our assessment.
- Execution Viability & Financials: We assessed whether the requested funding was appropriate with the project’s scope and whether the team demonstrated the expertise and planning necessary for successful execution. This included a review of the budget breakdown, timelines, and risk considerations.
- Accountability and Delivery Assurance: A critical factor was the proposal’s commitment to transparency and accountability. We looked for clear deliverables, defined success metrics, and robust reporting plans. Given the significant value of Treasury funds, we placed a strong emphasis on frameworks that ensure what is promised is ultimately delivered.
The Cardano Foundation’s votes on these 39 treasury-withdrawal governance actions are the direct execution of a single, comprehensive review process that began during the off-chain signaling phase. Although we present one aggregate rationale for efficiency, each proposal and governance action was individually assessed against a consistent framework anchored in our publicly stated principles.
- Yes105.9M ₳Rationale
This proposal marks a crucial step in Cardano’s post-MVG evolution. By grounding governance evaluation in data and real-world insights, it enables concrete improvements via actionable CIPs and CPSs, rather than reactive discussions.
Led by experienced contributors and supported by a transparent framework with third-party oversight, the initiative offers both credibility and repeatability.
この提案は、CardanoのガバナンスをMVG以後も継続的に進化させるための重要な一歩です。単なる感覚的な議論ではなく、データと実地経験に基づいた健全性評価を行い、実効性のある改善提案（CIPやCPS）にまでつなげる姿勢は評価に値します。
すでに実績のあるメンバーと信頼できる管理体制、公開型の成果物、第三者検証など、ガバナンスプロジェクトとして高い透明性と再現性が期待されます。
- Yes96M ₳No rationale
- Yes93.3M ₳Rationale
The vote for this withdrawal is YES. Details can be found in the rationale.
A PDF version of this rationale is also made available.
I plan to vote YES on most projects I’ve supported in Ekklesia. To stay transparent, I’ll rate each project across six categories, scoring 0 to 2 per category (max 12 points). Projects scoring below 6 won’t get my support. I’ll consider supporting those with 7–8 points, and will fully support any scoring 9 or more.
The categories are:
- Key infrastructure, research, or essential funding: 1
- Team strength, feasibility, and track record: 2
- Impact on the Cardano ecosystem: 1
- Value for money: 1
- Cost compared to similar proposals: 1
- Personal or community usage and benefit: 1
Total score: 7
- Yes89.4M ₳Rationale
私の投票ポリシーはCARDANO2025ロードマップを実現するべく基盤技術の維持と強化、コア開発と研究、マーケティングの強化を支持しています。事前のオフチェーン投票ではNoにした提案においても、提案内容に関しては一定の必要性を感じているため資金調達プロセスのスケジュールや提案内容を精査したうえでYESに投じます。
My voting policy supports the maintenance and enhancement of foundational technologies, core development and research, and the strengthening of marketing efforts to realize the CARDANO 2025 roadmap. Even for proposals I previously voted "No" on during the off-chain voting phase, I recognize a certain level of necessity in their content. Therefore, after carefully reviewing both the proposal content and the funding schedule, I will cast a "Yes" vote. - Yes89.1M ₳No rationale
- No88.1M ₳No rationale
- Yes83.9M ₳Rationale
SIPO supports this proposal because it addresses a critical need in Cardano’s ongoing governance evolution: moving beyond the Minimum Viable Governance (MVG) framework toward a more data-driven, inclusive, and community-informed governance model.
The project will deliver a comprehensive “State of Governance” report, benchmark KPIs, and produce actionable recommendations based on community feedback gathered through workshops, interviews, and surveys. These outcomes are essential to ensuring that Cardano’s governance system evolves based on evidence, not speculation.
What sets this proposal apart is its coalition of proven contributors, including the Voltaire team from Input Output and key community leaders. Their past successes—such as CIP-1694 workshops and the global constitutional drafting process—demonstrate their capacity to lead this initiative effectively.
This project not only evaluates but also proposes improvements. If community consensus is reached, it will generate Cardano Problem Statements (CPSs) or Improvement Proposals (CIPs), reinforcing iterative governance as a living system. It also offers transparency, verifiability, and reuse by publishing a process playbook and open participation.
Given that this effort is embedded within Intersect’s budget framework and uses auditable smart contracts with third-party assurance, SIPO believes this initiative is a responsible and strategic use of treasury funds. It will provide long-term value by helping the ecosystem identify risks early, measure participation health, and elevate governance maturity through evidence-based refinement.
For these reasons, SIPO casts a “Yes” vote for this proposal.
⸻⸻⸻⸻⸻⸻⸻⸻⸻
SIPOはこの提案に「Yes」と投票します。その理由は、カルダノのガバナンスを「最小限の実装（MVG）」から、データに基づいた持続的かつ包括的な発展モデルへと進化させるために不可欠な取り組みだからです。
本提案では、コミュニティ参加状況やKPIを測定する「State of Governance（ガバナンスの現状）」レポートが作成され、ワークショップやインタビュー、調査を通じて得られた実体験に基づく知見から、改善提案が導き出されます。これにより、感覚や印象ではなく、証拠に基づいたガバナンスの改善が可能になります。
特筆すべきは、本プロジェクトが、Voltaireチームをはじめとした経験豊富なメンバーとコミュニティリーダーによる連携体制で構成されていることです。CIP-1694ワークショップや憲法起草プロセスなど、過去の実績からも信頼性は高く、本プロジェクトを成功に導く力があると判断できます。
また、本プロジェクトは単なる評価で終わるのではなく、Cardano Problem Statement（CPS）やCardano Improvement Proposal（CIP）など、具体的な改善策の提案にまで踏み込みます。さらに、再利用可能なプロセスプレイブックの公開や、外部からの参加も受け入れる設計となっており、透明性とオープン性が担保されています。
Intersectによる管理の下、Sundae Labsのスマートコントラクトを活用し、第三者機関によるアシュアランス（検証）も含まれるなど、予算執行の信頼性も高く評価できます。
本提案は、カルダノのガバナンスの健全性や参加状況を可視化し、リスクや課題を早期に特定して進化を促す重要な土台を築くものです。長期的に見ても、エコシステム全体にとって非常に価値ある取り組みです。
以上の理由から、SIPOは本提案に賛成票を投じます。
- Yes80.4M ₳Rationale
The budget process is god awful and needs to be fixed.
- No78.6M ₳No rationale
- Yes75.5M ₳No rationale
- No75.3M ₳Rationale
I am voting NO. While improving governance is vital, this initiative is led by IOG's Voltaire team. This is a significant conflict of interest. The architects of a system cannot be the impartial arbiters of its success. Governance evolution must be led by truly independent community bodies.
A PDF version of this rationale is also made available.
While improving our governance framework is critical for sustainability and I do like the proposal in question, I must however vote NO due to a fundamental conflict of interest in this proposal's leadership.
It states that Input Output's Voltaire team will lead the work. For true decentralization to flourish, the architects of a system cannot be the primary arbiters of its success and future direction. This vital research must be led by neutral, independent community bodies to ensure legitimacy and prevent entrenching the incumbent's vision.
- Yes55.4M ₳Rationale
Following the previous vote on Ekklesia.
- Yes50.8M ₳Rationale
As a DRep, I voted for all projects in the 2025 budget vote based on a very simple principle:\n\n- Yes if I believe the long-term value to the Cardano ecosystem exceeds the requested amount;\n- No if it doesn't;\n- Abstain if I'm unsure.\n\nAll of my votes are consistent with my position in the May 2025 Ekklesia round.
- Yes43.3M ₳No rationale
- Yes42.9M ₳No rationale
- No42.3M ₳Rationale
While I have a lot of respect for the vendors of this proposal, I'd like to prevent spending more money and energy on governance-focused initiatives like this for now and focus on adoption & applications instead.
- No41.6M ₳No rationale
- Yes40.2M ₳No rationale
- Yes39.5M ₳No rationale
- Yes38.1M ₳No rationale
- Yes37M ₳No rationale
- No36.8M ₳No rationale
- Abstain34.3M ₳Rationale
Temporary Abstention Rationale
Summary
To ensure timely progression of proposals that meet constitutional thresholds, I am temporarily casting abstain votes on all active governance actions while I continue to review them individually. This avoids delaying enactment due to quorum issues and allows careful evaluation of each on its own merits.Rationale Statement
As a DRep, I take seriously my responsibility to evaluate each proposal in alignment with the HOSKY Cardano First platform, prioritizing decentralization, responsible treasury use, and the long term integrity of CardanoRather than rush through the volume of proposals or risk being a bottleneck for those that meet required thresholds, I am temporarily abstaining on all proposals. This ensures that governance actions with sufficient community support can move forward without being held up by my pending vote
This abstention is not a sign of indecision or neglect. It is a reflection of my commitment to deliberate, well considered governance. I am reviewing each proposal carefully and will cast definitive YES or NO votes with rationale in the coming days
This approach allows me to maintain transparency, uphold voting integrity, and respect the time sensitive nature of decentralized decision making. It is a temporary mechanism to preserve network momentum while continuing to uphold the standards set by both the Constitution and the HOSKY dRep Platform
- Yes32.4M ₳No rationale
- Yes31.1M ₳No rationale
- Yes30.6M ₳Rationale
Socious has voted in favor of all 39 Treasury Withdrawal proposals submitted. These proposals were selected through a well-defined process, and we fully support them out of respect for the will of the broader Cardano community.
- Abstain30.6M ₳No rationale
- AbstainChanged28.1M ₳Rationale
Improving governance and establishing KPIs is great, but governance is already in a viable state and we have many other higher priorities.
Earlier votes
No1y agoSuperseded
Improving governance and establishing KPIs is great, but governance is already in a viable state and we have many other higher priorities.
- Yes27.5M ₳No rationale
- AbstainChanged25.9M ₳Rationale
I am updating my vote to ABSTAIN on the current proposal to fund improving Voltaire. I still believe it a bit early to begin planning to making improvements and that we need to run a bit further and catch a few more scars before we will be in a position to make comprehensive governance improvements. That being said, governance is the single most double-edge sworded feaature we have in Cardano, and any early insights into trajectories realized from such initiatives could be helpful
Earlier votes
No1y agoSuperseded
- No25.8M ₳Rationale
I would prefer to reform the whole intersect / governance workflow, and only we have approved a new way of operating, then we would decide what we need, determine the features and the vote the appropriate budget.
- Yes23.6M ₳No rationale
- Yes22.4M ₳No rationale
- Abstain21.7M ₳Rationale
Despite being 1 of 15 proposals in this series of 39 treasury withdrawal governance actions that I had previously voted for during the budget reconciliation process via Ekklesia I have decided to change my vote to an abstain at this time. During the budget reconciliation process I absolutely felt it necessary to move beyond minimum viable governance (MVG), it was a term used so much during the CIP-1694 process that this felt like the right initiative to begin progressing the state of Cardano governance to a more mature iteration.
That said, I recall how tailored the experience of the CIP-1694 and Constitution workshops were, where people believed they would have a real chance at shaping the process, only to be greeted with pre-determined topics and attempts to raise any other concerns were stonewalled and labelled “out of scope”.
I now see a pandering to a select number of DReps, unimpressed by language such as “top DReps” or “key DReps”. We like to preach about the liquid nature of voting power, so why one group should be favoured over others based on what is meant to be liquid voting power seems short-sighted. A large voting power doesn’t necessarily make someone a “top DRep”, some have low vote participation, may not provide on-chain rationales with their votes or simply vote yes to any proposal suggested by certain vendors without pause for evaluation. This does not bode well for what we like to proudly proclaim “decentralised governance”.
Until there can be assurances that this proposed iteration of Voltaire doesn’t descend into a repeat of past processes, with conversations shepherded to a pre-conceived outcome dressed up as decentralised consensus, I abstain from voting to fund such efforts at this time.
- Yes21.5M ₳Rationale
Long-Term Sustainability
This proposal aims to enhance the usability and accessibility of Cardano’s on-chain governance tooling, a necessary step for ensuring that Voltaire succeeds beyond its technical minimum. It supports long-term sustainability by addressing human factors that influence system adoption and effectiveness.Builder and Ecosystem Growth
The proposal targets onboarding flows, UX audits, documentation, and interface components—resources that benefit wallet teams, DReps, and future governance tools. If well executed, these deliverables can lower the barrier to contribution and drive better user participation in governance processes.Decentralization and Community Engagement
Improved UX and educational content are directly aligned with decentralization goals, as they help more ADA holders participate in governance with confidence. That said, the proposal’s focus on design and education rather than protocol-level infrastructure limits its decentralization impact to soft layers of engagement.Responsible Treasury Spending
₳592,780 is a substantial amount for a proposal centered on UX improvements, documentation, and non-technical deliverables. The proposal lacks a detailed cost breakdown for specific outputs or FTE allocations, which makes it difficult to evaluate value-for-money. We support the intent—but funding should be milestone-based, publicly trackable, and outcomes-driven. Without clear accountability, this risks overspending on deliverables that are subjective and hard to measure. - Yes20.3M ₳Rationale
As a Drep, I vote yes on this proposal in line with my Ekklesia vote earlier this year.
- Yes20.3M ₳No rationale
- Yes17.2M ₳No rationale
- Yes16.3M ₳Rationale
Treasury withdrawals
Software Development Proposals:
Development budgets should not be funded from the treasury. Instead, the treasury should be used to incentivize feature completion through grants. The treasury should not operate as a venture capital fund or to fund ongoing development budgets. It should be results oriented and decoupled from budgeting. Dracula DAO Deep will make exceptions this round for projects that deliver specific, high value features or results at a reasonable ask amount.Marketing Proposals:
Marketing budgets are the best way to fund these types of efforts. Judgement should be used based on the ask amount and value proposition.Research Proposals:
Research budgets should be evaluated based on the track record of the team being funded, the value proposition and whether the results are released to the public.DAO Funding:
DraculaDAO believes DAOs should find other ways to support operations other than public treasury funds.Bitcoin:
Dracula DAO Deep is against purchasing Bitcoin with treasury funds, and are generally not in favor of a tight Bitcoin / Cardano partnership. Bitcoin DeFi is ok as long as the value proposition remains with Cardano. Cardano is already Bitcoin++ and treasury funds should not be used to encourage or sustain BTC energy waste and outdated consensus model.Yes - MLabs Core Tool Maintenance. Ask is reasonable.
Yes - Midgard Optimistic Rollups. This is urgently needed as an L2 solution for Cardano and the ask is reasonable.
Yes - Hardware Wallets Maintenance. This is necessary and ask is reasonable.
Yes - Pallas Rust Tooling. Core tooling used by many projects and ask is reasonable for the specific deliverable.
Yes - UTxO RPC
Yes - Lucid Evolution Maintenance
Yes - zkFold ZK Rollup
Yes - Dolos. Ask is reasonable with specific deliverable.
Yes - Ledger App rewrite
Yes - Paid Open Source Model. This looks like a nice way to take the VC function out of the treasury and start towards incentivizing projects through features and benefits like bug bounties. Willing to take a chance on this, but will vote no in the future if results are disappointing.
Yes - Gerolamo node in typescript
Yes - MLabs Core Tools: Plutarch. Ask is reasonable
Yes - ZK Bridge
Yes - Eternal maintenance
Yes - Scalus Development Platform
Yes - Cexplorer.io
Yes - Native Asset CDN
Yes - Adastat.net
Yes - Intersect MBO. DraculaDAO does not like the high ask amount and the budgeting approach, but for Intersect MBO there may not be a better way like there is with software development. Therefore DraculaDAO supports this proposal, realizing this possibly breaks with the general guidelines DraculaDAO described above.
Yes - Beyond Minimum Viable Governance. Focused feature set and reasonable ask. IOHK should use this approach for all its teams.
Yes - Cardano Summit
Yes - Unified Global Events Marketing
Yes - Quadratic Funding. Reasonable ask for a specific feature.
Yes - Cardano Ecosystem Pavilions
Yes - High-yield RWA Asset. Direct communication with this vendor increased our faith in this project and have changed our stance on this.
Yes - Expanding Stablecoin / Native Asset Support. This was marginal in terms of ask amount and number of features grouped together.
Yes - OpShin
Yes - PyCardano
Yes - Cardano Product Committee
Yes - BloxBean Java Tools
Yes - Input Output Research
Yes - MLabs ResearchAbstain - Input Output Core Development. This is simply a warning shot as DraculaDAO expects this proposal will pass. We are generally in favor of the initiatives and features being delivered by IOHK, but believe the ask is too high as a single budget line item and do not want to set a precedent of another ask of similar magnitude for the next budget cycle. Instead, IOHK should divide its deliverables into features and ask the treasury for grant incentives delivered on completion of the each feature (see Beyond Minimum Viable Governance as what we see as a good example). We are not in favor of such a large withdrawal encompassing such a large number of features. In general we do not support using the treasury for budget line items as mentioned in the introduction to this rationale.
Abstain - Blockfrost Community Budget. We support Blockfrost and operate an icebreaker node. There are no specific features mentioned, just an ongoing budget line item, which we do not support. We will support Blockfrost in other ways.No - Web3 developer stack for Bitcoin integration. DraculaDAO does not support a tight integration with Bitcoin.
No - TWEAG Proposals. We see value there but the ask is too large and too many deliverables bundled together.
No - Catalyst 2025. Ask is too large as a single budget request.
No - Cardano Builder DAO. Treasury should not be used to incentivize features, not fund ongoing budgets for software development or DAOs.
No - Market making should have other ways to fund operations. - Yes15.3M ₳No rationale
- Yes14.2M ₳No rationale