Cardano Info Action Proposals

This info action proposes naming the Protocol Version 12 hard fork “von Bergen” as a salute and recognition to Fabian von Bergen, also known as Zyroxa. Fabian has been a Cardano community member since the ITN, an always critical, honest and sound voice in Cardano's past who introduced and guided many through the Cardano ecosystem, a well known person on the Cardano Forum, also SPO of the Tempus Stake Pool and a Cardano Ambassador since the earliest days of the program.

By this Info action, the DReps agree a new Net Change Limit of 500,000,000 ada (500,000,000,000,000 lovelace) for the Cardano Treasury, for the period beginning at the start of Epoch 613 (February 13, 2026) and ending at the close of Epoch 713 (on or about July 3, 2027). This Net Change Limit is a fixed cap on the total ada removed from the Treasury through Treasury Withdrawals during the period; it does not count Treasury inflows. This is a newly agreed Net Change Limit: it is the applicable Net Change Limit for the period and supersedes any prior Net Change Limit for the same period. Because the period begins at the start of Epoch 613, all Treasury Withdrawals already debited during the period count toward this 500,000,000 ada limit. This Info action records the DReps' agreement to this Net Change Limit when Yes votes exceed 50% of the active voting stake, the threshold TREASURY-01a sets for agreeing a Net Change Limit; it has no direct on-chain effect and does not authorize any Treasury Withdrawal.

Treasury governance should enable strategic alignment and facilitate decision-making. However, treasury governance within the Cardano ecosystem is in a poor state. First, there is a funding impasse. Second, while being pivotal for Cardano's stability and growth, treasury governance is only indirectly addressed and barely supported by the existing governance system. This governance info action sketches basic ideas for reforming treasury governance and introduces them into public discussion. The goal is to provide an impetus for improving the treasury governance process and to outline guardrails for strategic direction. An implementation will require further refinements and amendments to the current process as well as the constitution. All members of the Cardano ecosystem are encouraged to collaborate in reforming treasury governance into a productive process that enables stability and growth.

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.

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.

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)