Expired Cardano Governance Actions

This treasury withdrawal requests **₳39,787,316** (USD $9,946,829) to fund Tweag by Modus Create's delivery of 17 work packages across 9 core infrastructure areas for the Cardano ecosystem over 2026–2028. The primary focus is the **mainnet deployment of Peras** (faster finality: ~2 min vs. ~12 min today), alongside improvements to resilience, scalability, developer tooling, and network observability. Work packages include: - **Peras v1** – production cryptography, KillSwitch, mainnet readiness - **Peras v2** – pre-agreement algorithm, cooldown recovery, performance optimizations - **History Expiry** – partial-history nodes to reduce SPO storage costs - **Hard Fork Mempool Bridger** – transaction preservation during fork incidents - **Conformance Testing** – CTC framework extended for Peras and Leios - **Adversarial Fork Testing** – Genesis property-based test improvements - **Canonical Ledger State & Mithril** – standardized state snapshots (CIP-0165) - **Plutus Script Re-Executor** – debugging tooling for DApp developers - **Mutation Testing** – test suite adequacy framework for Haskell/Cardano - **Hoarding Node** – live deployment, distributed mode, embedded consensus validation, transaction collection - **Block Cost Investigation** – empirical and analytical cost models - **Genesis Sync Accelerator & Node Emulator** – ongoing maintenance Intersect is requested to serve as proposal and contract administrator. All deliverables are open-source and publicly tracked.

Modular top-up unlocks the ‘**Title’ Sponsorship** tier, the highest level of visibility at TOKEN2049. This is an incremental request of **1,768,167 ada (equivalent to $424,360 USD, calculated at an estimated rate of $0.24 per ada)** to upgrade Cardano’s presence from a 108 sqm booth to a massive 144 sqm footprint and secure a Mainstage Keynote. **Dependency Notice:** This is a top-up proposal intended to be voted on in conjunction with the Cardano at TOKEN2049 Singapore 2026: Baseline ‘Platinum’ Sponsorship proposal (Gov Action ID: `gov_action18u8lpkzge2csxe3plynn9lh4agwtv3nrqkyfwalwj4ykjv7l68jqqzmul9z`). If this proposal is ratified without the approval of the ‘Platinum’ Sponsorship proposal, EMURGO commits to returning 100% of the funds to the Cardano Treasury within 30 days of enactment, as there would be no underlying sponsorship to upgrade. By splitting the funding request, we enable DReps to make a clear, isolated decision on the value of premium marketing exposure. The baseline ‘Platinum’ proposal ensures Cardano’s presence, while this upgrade proposal asks whether the community wishes to secure additional benefits, including a 15-minute mainstage keynote, premium media access (press release inclusion and introductions), expanded branding via lanyards, a high-traffic engagement point through the protein shake station, and a larger booth footprint, all of which enhance Cardano’s visibility and reach across the event. The expanded booth and mainstage presence will also amplify the visibility of Cardano ecosystem projects showcasing at the event, providing them with exposure to a broader and more prominent audience. **Important Notes:** Regarding the vote for this “Cardano at TOKEN2049 Singapore 2026: Top-Up ‘Title’ Sponsorship Upgrade (Modular Extension)”, please vote **"YES"** only if you support the "Cardano at TOKEN2049 Singapore 2026: Baseline ‘Platinum’ Sponsorship Proposal" as a DRep and wish to upgrade it to a ‘Title’ Sponsorship.

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**Proposal as pdf: [https://ipnso-com.ipns.dweb.link/?cid=QmUdbgB3eHms52HY4oha5u2V4mrpCZkhBw2AaozeMiz8sL](https://ipnso-com.ipns.dweb.link/?cid=QmUdbgB3eHms52HY4oha5u2V4mrpCZkhBw2AaozeMiz8sL)** One of the primary challenges in decentralizing access to data-providing services such as Blockfrost is the substantial amount of resources required to index the entire Cardano blockchain dataset, even when only a fraction of that data is needed in practice. As Cardano prepares for Leios, the cost of indexing the full blockchain dataset will grow substantially. Today, participating in data-serving infrastructure requires indexing the entire chain. This prices out smaller operators and concentrates infrastructure around fewer providers. Project Cayley introduces decentralized slice indexing — allowing SPOs and node operators to choose which portions of the chain they want to index and serve. This lowers the barrier to participation, reduces infrastructure costs across the ecosystem, and keeps data-serving infrastructure decentralized as the chain scales. Its modular multi-chain architecture further enables developers to access data across Cardano, Midnight, and Bitcoin through a unified API. This proposal funds two components: Project Cayley ($1,000,000) to build the next-generation indexing architecture, and an operational subsidy ($900,000) to maintain the free-tier infrastructure that Blockfrost has funded entirely on its own since inception. **Total ask: ₳7.92M** ($1,900,000 at $0.24/₳).

**Proposal as pdf: [https://ipnso-com.ipns.dweb.link/?cid=QmYfHrmfTKYGK9YR95ewXSwEruEfGPAtpnp1qwoEUekJa7](https://ipnso-com.ipns.dweb.link/?cid=QmYfHrmfTKYGK9YR95ewXSwEruEfGPAtpnp1qwoEUekJa7)** Cardano's current L1 infrastructure — two-hour finality, \~$0.17 per transaction, and \~7–10 TPS, systematically disqualifies it from high-performance verticals such as DeFi, AI agent micropayments, gaming, and consumer payments before a technical evaluation even begins. Upcoming L1 upgrades (Leios, Peras) will strengthen the base layer will not alone meet the requirements of zero-fee or sub-second use cases. Layer 2 infrastructure is the only path to closing this gap in the current cycle. This proposal, led by Input Output in partnership with Midgard Labs, delivers three complementary workstreams: shared L2-agnostic infrastructure (a data availability solution benefiting all current and future Cardano L2s); production hardening of Hydra, including performance optimization, operational tooling, and DeFi reference implementations to support live adopters Delta DeFi and Masumi; and the mainnet launch of Midgard, Cardano's first permissionless optimistic rollup, targeting 10,000+ TPS and sub-$0.01 fees for open-participation applications. Hydra and Midgard are not competing solutions — they address distinct trust models and together cover a far broader range of use cases than either could alone. L2s grow the Cardano ecosystem rather than cannibalize it. Activity on Hydra and Midgard anchors back to L1 through block publication and settlement, generating protocol revenue that would otherwise flow to competing ecosystems. Midgard's architecture additionally includes a mechanism to route a portion of sequencer revenue to the Cardano treasury, creating a durable, non-speculative economic relationship between L2 growth and ecosystem sustainability. By supporting the first wave of production adopters now, this proposal establishes the reference deployments and developer confidence needed to compound ecosystem growth through subsequent cycles.. **Treasury Ask:** ₳10,425,871

*Proposal as pdf: https://ipnso-com.ipns.dweb.link/?cid=bafybeibbrhuis55rl52hsp5rboooobjg4rvq7q5ly2mern7s7f3xcbjzwi* Bitcoin is a \$1.5T asset with virtually no native DeFi infrastructure. The race to become the dominant credit and liquidity layer for BTC is the largest open market opportunity in crypto. Pogun is an end-to-end Bitcoin liquidity and credit engine built to position Cardano as the definitive home of Bitcoin DeFi. Demonstrating our commitment to the proper use of public funds, Pogun will return 20% of EBITDA to the Cardano Treasury until the initial funding is repaid. This will be followed by an ongoing 5% perpetual return. Pogun delivers three integrated components: * **Credit Market (Q2 2026)** - A non-margin peer-to-peer credit market. A fully on-chain, oracle-free lending protocol where collateral is only at risk upon default, not price fluctuations. * **Yield (Q3 2026)** - A deposit-and-earn layer that routes user capital into yield-generating strategies across private credit, RWAs, and structured fixed-income products. * **Bridge (Q4 2026)** - BitVM-powered trust-minimized bridge providing 1-of-N security for institutional-grade Bitcoin custody: bridge BTC to Cardano, borrow against it, and earn without surrendering custody of the underlying asset. To execute this roadmap, this treasury withdrawal requests ₳12.29M (equivalent to \$2.95M USD at a reference rate of \$.24/₳).

**Treasury Withdrawal Proposal** By: Cardano Foundation & EMURGO This Proposal as a PDF: https://ipnso-com.ipns.dweb.link/?cid=QmQc5zt319nHtseyj4vVKkm4PFCHS7To3WCs6pH3SGgrxq This proposal outlines a high-impact, effective, dual-event strategy to be executed in Singapore from October 5–8, 2026. This strategy is designed to maximize budget efficiency by co-locating two key events to maximize the reach of Cardano and its ecosystem: 1. **The Cardano Summit 2026:** A two-day dedicated event hosted by the Cardano Foundation, providing a showcase for Cardano's community innovation and technology, enterprise applications, institutional use cases, regulatory roundtables, and governance maturity. Interest in the Cardano Summit, from both media and enterprise, has steadily increased since its inception, reaching its highest level in 2025/2026. 2. **Cardano Premier Title Sponsorship at TOKEN2049**: The world's largest blockchain summit with over 25,000 attendees. The package includes a large-format exhibition booth in a premium traffic zone, a historic first-ever mainstage keynote— exclusive to title sponsors — on-site media interviews, and a dedicated ecosystem showcase from the top 20 projects on Cardano. This sponsorship will be fully managed by EMURGO. The Cardano Foundation and EMURGO teams are requesting a total of 14,076,539 ada ($3,659,900 USD): 1. 9,615,385 ada (USD 2,500,000) for the 2026 Cardano Summit managed by the Cardano Foundation 2. 4,461,154 ada (USD 1,159,900) for a “Title” TOKEN2049 Sponsorship managed by EMURGO Based on the current value of ada **at 0.26 to the US Dollar** (at the time of writing), this translates into 14,076,539 ada. Please see the Proposal Specifics and Budget Breakdown below for further details on the budget and administration process. Key Performance Indicators are included in Section 7 below. This proposal is being submitted outside of the Intersect budget process due to critical timing constraints, as payments made through this process are projected to be made in August or September at the earliest, which is unworkable for 2026 events. Waiting for this process would mean missing the crucial opportunity to build upon the Summit momentum generated in 2025. The full concept and slide deck can be found here: https://ipnso-com.ipns.dweb.link/?cid=QmaF8tt7prMb41TqSfN9GSJhM5PcWXVuD7uxYBDjecjaDX

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The Cardano Foundation (CF), supported by Input Output Group (IOG), is requesting community approval to be appointed as the new managing entity for Project Catalyst. This will allow for full and effective transition of Catalyst operations and responsibilities from IOG to CF in accordance with the statutes of the Catalyst Foundation Company (CFC). This transition will ensure continuity of operations and minimise delays on milestone reviews and eligible payouts for teams delivering against projects in Funds 10-14. This approval request and Info Action is unrelated to Intersect’s role as the constitutionally mandated budget administrator for funds 14 to 16. This request is also unrelated to the already announced return to the Cardano Treasury of the previously approved allocations for Fund 15 and 16. This Info Action will be considered approved, if greater than 50% of the active DRep voting stake votes YES upon the action's expiration.

This Governance Information Action provides the formal description of the Intersect Budget Process Framework for the 2026 and future cycles, until modified, administered by Intersect. It outlines a structured, multi-step workflow used to collect, review, consolidate, and execute Treasury-funded activities, and records the improvements introduced for the 2026 budgeting year.