Expired Cardano Governance Actions

This governance action proposes a Net Change Limit of 300,000,000,000,000 lovelace (300 million ADA) for the period from the start of Epoch 613 (13 February 2026) to the end of Epoch 713 (3 July 2027). Upon approval in accordance with the Constitution, this NCL shall apply to Epochs 613–713 and supersede any previously agreed NCL for the same period.

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Intersect’s Hard Fork Working Group proposes to name the next Cardano hard fork, to Protocol Version 11, the “van Rossem Hard Fork” in memory of Cardano community contributor Max van Rossem.

The Cardano Constitution requires the establishment of a Net Change Limit (NCL), which defines the maximum amount of lovelace that can be withdrawn from the treasury during an outlined period of time. This governance action serves as an opportunity for all governance stakeholders to formally express their positions regarding the proposed Net Change Limit, ensuring transparency, accountability, and alignment across the ecosystem. The Net Change Limit will begin at the start of **Epoch 613** (13 February 2026) and conclude at the end of **Epoch 713** (3 July 2027). The Net Change Limit will be **350,000,000,000,000 lovelace** (350M ada). Unless superseded by a new NCL, this is the maximum amount that can be withdrawn from the treasury during this specific period and shall not be exceeded. The Net Change Limit will be used when reviewing treasury withdrawal actions to ensure constitutionality as required by Article IV of the Cardano Constitution and the Treasury Withdrawal Guardrails outlined in Appendix I. This action has been submitted on the behalf of the Cardano Budget Committee at Intersect, following community feedback.

This Budget Info Action asks DReps and the Cardano community to signal support for a **₳1,500,000, 6-month budget** to harden and scale **DeltaDeFi**, a Hydra-based, low-latency order-book exchange aiming to become core **trading infrastructure for Cardano**, focused on ADA and Cardano native tokens (CNTs). The requested budget is intended to: * Bring the current **Hydra spot DEX** from beta to a production-ready venue for both API traders and everyday users; * Scale the **Hydra and data infrastructure** so Cardano has at least one CEX-grade venue for ADA and key CNT pairs; and * Deliver a **Vision 2030 KPI Measurement Programme** (baseline report + live dashboard + progress report) that tracks DeFi infrastructure contribution to ecosystem goals. Within the ₳1,500,000 total: * 80% is dedicated to engineering, operations and security for the Hydra trading infrastructure; and * 20% is dedicated to the **Vision 2030 KPI Measurement Programme**: * an initial **"State of Cardano DeFi" baseline report**, * a public **Vision 2030 KPI dashboard**, and * a final **6-month progress report**

Starting at the end of 2024 and continuing throughout 2025, the Cardano Product Committee of Intersect facilitated the **first community-led process to propose a 2030 Cardano Vision and Strategy**. During the first part of 2025 this process also received delegated authority and funding by Cardano DReps during the 2025 budget cycle. The extensive process the Product Committee followed, which **involved 700+ people**, focused on collecting as much input as possible from the broader community with attention to representative groups via different channels such as surveys, focus groups and remote and in-person workshops, and then reconnecting with those same groups to review a draft proposal based on the input provided. This process can be reused in the future to keep both Vision and Strategy updated ([high level process mapped](https://productcommittee.docs.intersectmbo.org/committee-outcomes/2030-long-term-cardano-vision)): 1. [Input collection - Workshops](https://productcommittee.docs.intersectmbo.org/committee-outcomes/2030-long-term-cardano-vision/insights-collected/insights-collection-workshops) 2. [Focus group SPOs](https://productcommittee.docs.intersectmbo.org/committee-outcomes/2030-long-term-cardano-vision/insights-collected/focus-groups) 3. [Surveys](https://productcommittee.docs.intersectmbo.org/committee-outcomes/2030-long-term-cardano-vision/insights-collected/surveys) 4. Conversations with founding entities leaders from IOG, Cardano Foundation, EMURGO 5. [Business calls](https://product.cardano.intersectmbo.org/business-interviews/) 6. [Drafted proposal](https://product.cardano.intersectmbo.org/vision/) 7. [Reviewed proposal Workshops](https://productcommittee.docs.intersectmbo.org/committee-outcomes/2030-long-term-cardano-vision/draft-review-workshops) * [Proposal link and history on github](https://github.com/IntersectMBO/product-website/commits/master) 8. [Approved budget withdrawal on 17th August](https://gov.tools/outcomes/governance_actions/8ad3d454f3496a35cb0d07b0fd32f687f66338b7d60e787fc0a22939e5d8833e#35)

This governance action proposes to add an additional Constitutional Committee member through a community-initiated Update Committee action. The proposal is submitted independently by community participants, in accordance with Cardano’s permissionless governance framework, and explicitly references the previously submitted Update Committee action whose purpose was to add Cardano Curia to the Constitutional Committee By increasing the number of Constitutional Committee members above the `minCommitteeSize` parameter (currently set to 7), this action strengthens governance continuity and reduces the risk of ratification delays should a committee member resign or retire during the current mandate.

The Cardano Community adopted the 2025 Net Change Limit (NCL) on 24 April 2025, which defined the maximum amount of lovelace that could be withdrawn from the Cardano Treasury from the start of Epoch 532 until the conclusion of Epoch 604. Because the Cardano Constitution does not allow withdrawals from the Treasury that would violate the established NCL, this "2025 Net Change Limit Extension" serves the purpose of extending the previously established Net Change Limit for an additional eight (8) Epochs so that management of the Cardano Treasury will not be disrupted.

This Cardano Critical Integrations Budget Governance Action requests ₳70,000,000 from the Cardano Treasury to establish a strategic integration fund supporting the onboarding of critical infrastructure, including tier-one stablecoins, institutional digital asset custody and wallet infrastructures, on-chain analytics platforms, cross-chain bridges, and pricing oracles to the Cardano ecosystem. This infrastructure establishes the foundational layer required to onboard tier-one stablecoins, with the potential to unlock exponential growth in DeFi transaction volume across the ecosystem. It will also help accelerate ecosystem efforts in other key areas such as Real World Assets (RWA) and DePin. This acceleration is expected to play a key role in supporting Cardano’s path to profitability as a layer one in terms of fee generation, ensuring long-term financial sustainability. This project is being driven through close collaboration between Input | Output Global, the Cardano Foundation, and EMURGO, together with Midnight Foundation and Intersect, all of whom are actively engaged in negotiations with integration partners. Representatives from all five organizations form the Steering Committee, which is responsible for making key strategic decisions. The founding entities and Intersect also recognize the Midnight Foundation’s contributions to date. Infrastructure providers and/or protocol collaborations are in a mature stage, and several partners have already provided detailed pricing and delivery timelines. However, for reasons of strategic and commercial confidentiality, together with partner companies’ compliance requirements, the specific infrastructures involved can only be disclosed outside of the Steering Committee after the integration is completed. The project will follow a milestone-based funding structure, with budget drawdowns executed from Intersect’s custody and administration only upon submission of signed agreements and the agreed scope of work. The Oversight Committee at Intersect will review drawdown requests to confirm that the amounts and designated recipients align with the executed contracts. Since work is already underway in some of these areas, this proposal envisions an early early budget deployment, and we anticipate this budget being utilized immediately and up to 24-month deployment, depending on withdrawal success, contracting periods, and timely receipt.

In September 2024, only weeks after the Chang hard fork to introduce on-chain governance, an Info governance action titled Cardanoの生きがい - Ikigai - was submitted. This was only a symbolic governance action, as it simply asked the community whether they agreed with a statement thanking those that helped get Cardano to this point and expressing a sense of hope for the future. Unfortunately, due to a bug in the code of the Cardano node that permitted an unregistered stake key to be used in the governance action, the submitter was unable to recover their deposit of 100K ada. While the community expressed at the time the importance of reimbursing this deposit via a treasury withdrawal; once the ability to do so became available, following the Plomin hard fork; unfortunately none of the entity based budget submissions have included this. The Cardano in Oceania initiative did include the deposit reimbursement in their budget Info governance action, however their governance action was not approved. This governance action therefore aims to resolve this outstanding issue.