Cardano Treasury Withdrawal Proposals

This Treasury Withdrawal funds Dolos by TxPipe: Maintaining Cardano's Lightweight Data Node, Year 2. This Treasury Withdrawal is submitted by Intersect on behalf of the vendor. The content for the following sections; Abstract, Motivation and Rationale have been sourced from the approved proposal submitted by the Vendor as part of the Intersect budget process.

This Treasury Withdrawal funds Hardware Wallet Maintenance 2026. This Treasury Withdrawal is submitted by Intersect on behalf of the vendor. The content for the following sections; Abstract, Motivation and Rationale have been sourced from the approved proposal submitted by the Vendor as part of the Intersect budget process.

This Treasury Withdrawal funds Mithril Protocol. This Treasury Withdrawal is submitted by Intersect on behalf of the vendor. The content for the following sections; Abstract, Motivation and Rationale have been sourced from the approved proposal submitted by the Vendor as part of the Intersect budget process.

# Strike Finance V2 Treasury Deployment Proposal This governance action requests a **12-month productive treasury deployment of 9,000,000 ADA** into Strike Finance V2 liquidity infrastructure. This is **not grant funding**. Treasury-owned capital would be deployed to deepen Cardano-native perpetual futures liquidity, increase on-chain trading activity, and generate yield for the Cardano Treasury. Strike has processed **over 1,130,000,000 USD** in cumulative volume, facilitated **968,000+ trades** across **3,071 unique traders**, generated **over 3,250,000 USD** in profit for liquidity providers, produced **over 1,160,000 USD** in total protocol revenue, and represented **over 50% of Cardano trading activity** during the past six months. | Allocation | Amount | Purpose | |---|---:|---| | V2 USDM liquidity | 9,000,000 ADA sold for USDM | Support scalable execution depth and stablecoin markets | The deployed ADA will be **sold for USDM**, Cardano's fiat-backed stablecoin, to provide stablecoin-denominated liquidity. For modeling, this proposal assumes **ADA = 0.15 USD**, making **9,000,000 ADA** approximately **1,350,000 USDM** of stablecoin liquidity. The actual USDM notional will depend on the conversion price at deployment and will be transparently reported. Under conservative modeled assumptions, the deployment is expected to generate approximately **900,000 ADA-equivalent** in annual yield. Assuming no ADA price change, this would increase the treasury-owned position from **9,000,000 ADA** to approximately **9,900,000 ADA-equivalent** over 12 months. These are modeled estimates, not guaranteed returns. **A council composed of Rami from Snek, Phil from Surf, and James from Moneta will serve as the administrator for this proposal.** Operational custody of deployed liquidity will be handled through this independent multisig council. Strike Finance will not have unilateral custody or control of treasury assets. Realized yield from the first six months will be returned to the Cardano Treasury at month 6. At month 12, **100% of treasury-owned deployed assets, including remaining principal and realized yield, will be returned to the Cardano Treasury**. Any further treasury participation would require a new governance proposal.

## Preamble The previous proposal, “Eternl: Path to Sustainability (2026-2027),” received NO votes from CC members due to a lack of clarity regarding audits. This new proposal is essentially the same as the previous one and adds that clarification. _Previous Governance action:_ gov_action1ngpqafax5rvp8lcgey4asvqtycrh4e56fwp8cn2r9trx2ysryhtsqdm3w3z https://adastat.net/governances/9a020ea7a6a0d813ff08c92bd8300b26077ae69a4b827c4d432ac665120325d700 _Key differences:_ - Added clarification on Audit funds spending and oversight metrics, as requested in the CC vote rationales. - Updated Ada to USD conversion rates - Changed FAQ answer: Eternl DRep will abstain on this proposal _Clarification on FTEs:_ Our price per FTE is $70,000 (compared to other proposals exceeding $200,000 per FTE). A reasonable lower bound rate. Our 6 FTEs are distributed across 10 people contributing to Eternl in various capacities, most of them part-time. ## Abstract Eternl is a non-custodial Cardano light wallet for the web, browser extension, Android, and iOS. Users rely on Eternl for payments, staking, governance, and DApp interaction. This proposal enables 12 months of operations, maintenance, and improvements. It includes frontend and backend maintenance and development, backend infrastructure, user support, and day-to-day operations. The goal is to keep Eternl secure, compatible, stable, and available as Cardano keeps evolving. This costs around $420,000 per year.

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 included it. 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.

**Proposal as pdf: [https://ipnso-com.ipns.inbrowser.link/?cid=Qmbk3jHKKLQ1VrniKaD7sGMscJxCKvoXqt1sQoEnRLTku4](https://ipnso-com.ipns.inbrowser.link/?cid=Qmbk3jHKKLQ1VrniKaD7sGMscJxCKvoXqt1sQoEnRLTku4)** **Hydra is the only production-grade Layer 2 on Cardano, already running live workloads for Delta DeFi, Masumi, Intersect, Vtechcom and others.** This proposal funds four workstreams - performance optimization, operational excellence, ecosystem support, and developer experience - delivering a feature-complete and hardened Hydra v2 so we offer a competitive scaling solution to existing builders and new builders adopt Cardano. Hydra delivers sub-second finality, near-zero fees, and high parallel throughput with L1-grade settlement. It unlocks verticals such as institutional and perpetual DEXes, agent-to-agent commerce, micropayments, gaming, point of sale, and verifiable information processing. The work aligns with the treasury's TVL, transaction, active-user, throughput, reliability, and protocol-revenue KPIs, and with Pillars 1, 2, 4, and 5. The ask is **₳5,100,781**. This will be milestone-gated, with independent third-party assurance and Intersect providing administrative treasury governance.

This treasury withdrawal requests **₳18,263,496.00** (USD $4,565,874.00) to fund Tweag by Modus Create's delivery of 3 work packages across core infrastructure areas for the Cardano ecosystem over 2026–2027. 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 and further support and maintenance - **History Expiry** – partial-history nodes to reduce SPO storage costs - **Conformance Testing** – CTC framework extended for Peras and Leios Intersect is requested to serve as proposal and contract administrator. All deliverables are open-source and publicly tracked.

The primary mission of this proposal is to strengthen and expand Cardano's global ecosystem presence through Rare Evo 2026 and Rare Dev Gov Day 2026, two established community-led initiatives that have become major coordination, onboarding, networking, governance, and industry outreach platforms for the Cardano ecosystem. **This proposal would position the Cardano ecosystem as the title sponsor of the Rare Evo 2026 main stage and global livestream, while also supporting the second annual Rare Dev Gov Day, a dedicated Cardano-focused technical, governance, and community coordination event occurring ahead of Rare Evo on July 28th, 2026 at ARIA Las Vegas.** The proposal is designed to create direct ecosystem value through: - Global Cardano brand visibility - Ecosystem onboarding and education - Governance participation - Developer and startup exposure - Enterprise and institutional outreach - Cross-chain industry engagement - Community retention - Expanded accessibility for Cardano ecosystem participants - Rare Network will return 20% of all VIP Ticket sales back to the Cardano Treasury (current retail value of a VIP ticket is $900) During a market contraction period many ecosystem projects face reduced marketing, travel, and business development budgets following the slowdown of traditional ecosystem funding sources and general macroeconomics impacts. Maintaining strong ecosystem visibility, participation, and coordination infrastructure during difficult market cycles is critical for long-term ecosystem resilience and growth. The proposal is not intended to create a new initiative from scratch, but rather to expand and strengthen an already proven platform with a multi-year track record of execution and ecosystem impact. Rare Evo 2026 will occur regardless of treasury funding; however, this proposal allows the Cardano ecosystem to substantially expand its presence, accessibility, participation, and strategic industry outreach through a highly leveraged and already operational event infrastructure. Rare Network is requesting ₳2,750,000 based on a $0.24 value for $660,000 budget from the Cardano treasury. This will cover two sponsorship packages for Cardano. One sponsorship for Rare Evo 2026 as the title sponsorship and a second title sponsorship for Cardano Dev Gov Day 2026.

5am.earth Foundation requests 10,000,000 ADA (hard cap) to build an open, Cardano-anchored trust layer for global agricultural supply chains. The trust layer combines Veridian self-sovereign identity for farmers and Agri-Entrepreneurs (AEs) with a Cardano on-chain satellite oracle delivering verified farm and crop data. The 18-month programme (M1 Stand-Up at Month 6, M2 Closed Loop at Month 12, M3 Self-Sustaining at Month 18) delivers across India, Cambodia, and Kenya, reaching 500,000 registered farmers and operating three named application paths during the funded period: AE certification with Andamio (WP3), traceability and compliance with Zengate Global (WP4), and finance and credit with Seedstars SIGMA (WP5). The Foundation is the neutral steward of the open trust layer; commercial partners build on top of it. The proposal is administered by Intersect on standard terms via the standardized Treasury Reserve Smart Contract / Project-Specific Smart Contract framework developed by Sundae Labs, with an independent Oversight Committee of five external entities verifying key administrative actions. Payment structure: 5,000,000 / 2,000,000 / 3,000,000 ADA, milestone-gated, front-loaded on approval and gated on observable evidence at M1 and M2. Project Swaminathan operates on Cardano Mainnet today with 10,500 cumulative farmer/farm registrations as of 5 May 2026 — providing live operational foundation for the proposed scale-up. The programme contributes meaningfully across all five Cardano Vision 2030 pillars, with 2030 projections of 3 million farmers, 112.5 million annual on-chain transactions, $900 million TVL, and 16–20 million ADA in annual protocol revenue. By 2028, the Foundation is structurally positioned to be self-sustaining through commercial partnerships and institutional backing — not returning to the Treasury for operating costs.