Expired Cardano Governance Actions

The Cardano Constitution, at Article IV, Section 3, requires that before withdrawal of Treasury funds, the community must have established a Net Change Limit (NCL). This means passing a NCL in a formal on-chain governance info action. The NCL represents the maximum amount of ada which may be withdrawn from the Cardano Treasury in a given period. It is a guardrail which, by definition in the Cardano Blockchain Ecosystem Constitution Definitions referenced below, protects the sustainability of the Cardano Treasury by preventing excessive withdrawals.

The Cardano Constitution requires the establishment of a Net Change Limit, which defines the maximum amount of lovelace that can be withdrawn from the treasury during an outlined period of time.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. This Net Change Limit facilitates a yearly budget cycle for the Cardano community. The 2025 Net Change Limit will begin at the start of Epoch 532 and continue for 72 epochs, finishing at the conclusion of Epoch 604 in December 2025. The 2025 Net Change Limit will be 350,000,000,000,000 lovelace (350M ada). This is the maximum amount that can be withdrawn from the treasury during this specific period and shall not be exceeded.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 both budget actions and treasury withdrawal actions to ensure constitutionality as required by Article IV of the Cardano Constitution and the Treasury Withdrawal Guardrails outlined in Appendix I.

As part of the budget approval process, it is necessary to establish a Net Change Limit. This serves as an opportunity for all governance stakeholders to formally express their positions regarding the proposed Net Change Limit, ensuring transparency, accountability, and alignment with organizational objectives. 2025 Net Change Limit of 300,000,000,000,000 lovelace (300M ada) 2026 Net Change Limit of 250,000,000,000,000 lovelace (250M ada) The Net Change Limit beyond 2027 is not defined in this governance action. The Net Change Limit will be used when reviewing both budget actions and treasury withdrawal actions to ensure constitutionality as required by Article IV of the Constitution and the Treasury Withdrawal Guardrails outlined in Appendix I.

This Info Action calls for a vote by Cardano Delegate Representatives (DReps) on the proposed future roadmap for Cardano. This roadmap, developed by the Cardano Product Committee of Intersect with consultation from key technical stakeholders, outlines key development priorities, technological advancements, and strategic goals for the Cardano ecosystem. The DRep vote will provide crucial input for strategic alignment and inform future budget proposals, including the current budget conversations.

This governance proposal seeks to reduce the treasury cut from 20% to 10% to enhance staking incentives, improve decentralization, and align economic sustainability with the Cardano ecosystem's long term growth. The adjustment aims to optimize staking rewards without compromising the financial health of the treasury, ensuring a balanced economic model that incentivizes participation and network security.

The Intersect Hard Fork Working Group proposes to name the next Cardano hard fork the “Plomin Hard Fork” in memory of Cardano community contributor Matthew Plomin.

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The K parameter was created to limit the total number of ADA staked to one pool. The K parameter determines the saturation of stakepools. To calculate the saturation of stakepools you can take the total number of ADA and divide it by K. K is currently 500, and pool saturation is currently 74,551,771.86 ADA. Pool saturate will increase slightly each epoch as more ADA is minted each epoch from staking rewards. K also has a large effect on a0. a0 is another Cardano protocol paramter that determines ADA staking rewards per epoch. a0 is currently set at .3. If a stakepool operator pledges the enough ADA to saturate their pool they earn 30% more ADA rewards per epoch. If you pledge half of the pools saturation then any delegates earn 15% more ADA rewards after SPO fees. Smaller pledges have a higher impact on staking rewards with a k parameter that's higher.

この瞬間、私たちは心からの感謝と敬意を、Charles Hoskinson率いるInput Output、EMURGO、そしてCardano財団に捧げます。彼らはCardanoを世界にもたらし、その献身、ビジョン、そして揺るぎない努力によって、私たちが今立っている土台を築き上げてくれました。彼らは「生きがい(Ikigai)」の本質を体現し、自身の仕事に喜びと意味を見出しながら、より大きな善のために貢献する力を示したのです。 次のステージに向かう私たちは、少数の努力から多くの力へと移行します。共通の目的意識を持ち、Cardanoコミュニティとして、この土台を集団の知恵、情熱、そしてエネルギーでさらに築き上げていくことを誓います。私たち一人ひとりがCardanoの未来の一端を担い、共通の目的と、共に大きなことを成し遂げられるという信念によって結ばれています。

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