Expired Cardano Treasury Withdrawal Proposals

This proposal is to establish an independent entity dedicated to managing open source sustainability funds for the Cardano ecosystem.DAOs and traditional foundations are often too vulnerable to political influence, lack execution speed, and can become centralized in ways that distort outcomes based on internal politics. These issues can undermine priorities and weaken long-term initiatives. To address these problems, I am proposing a purpose-built independent structure — an execution function, not an executive one. This program has a single, clearly defined purpose set by its charter, and the community can shut it down at any time through governance without having to wait for the funds to run out.I am requesting funding for one year. I left a stable, well-paying job to focus on doing this properly, and I believe my track record in the ecosystem speaks for itself. During this period, I will directly manage the fund while deliberately avoiding overlap with existing funding programs.The structure will remain fully accountable to governance. DReps will have the ability to replace me or sunset the entire initiative at any time through an on-chain Info Action. I commit to sponsoring any such Info Action if requested by 15 or more DReps.To ensure proper legal and financial operations, I have already engaged a law firm to establish a public charity through which the majority of funds will flow. This step cannot be completed without initial capital. Once established, the law firm will handle formal auditing in addition to the transparent financial tracking I will maintain.

Bitcoin is the largest pool of capital in crypto, yet most BTC still sits outside DeFi because moving it off the Bitcoin base layer still requires security trade-offs many holders are not willing to accept. Cardano is structurally well suited for Bitcoin DeFi, but it lacks the secure BTC rail needed to compete for that liquidity. Bifrost is designed to provide that rail: a permissionless Bitcoin-Cardano bridge secured by Cardano’s existing SPO ecosystem that brings BTC onto Cardano as a native Cardano asset that applications can integrate into trading, lending, collateral, and other financial use cases. The bridge is on testnet today under Catalyst Fund 14. This proposal funds Phase 1 of 2: the work required to take Bifrost from a working testnet to launch readiness. It covers hardening, security audits, formal verification, ecosystem and partner readiness, and the stewardship and economic foundations required for launch. Public rollout and 24 months of operations are intentionally separated into a Phase 2 proposal in Q1 2027, once the bridge has been proven on-chain. FluidTokens and Lantr Engineering request ₳12,332,031 (approx, \$1,973,125 at 0.16 USD/ADA, including a 10% refundable contingency) from the Cardano Treasury for a 9-month delivery period from July 2026 to March 2027. By the end of Phase 1, Bifrost will be an audited bridge running on Cardano mainnet in both custody modes (federated and SPO threshold) under controlled access, together with the stewardship structure, hardened economic model, and SPO/dApp partner pipeline required for public launch. For Cardano, that means a proven secure rail into Bitcoin liquidity, ready to be opened to the public in Phase 2, and a credible position from which to compete for one of the largest pools of capital in crypto.

This proposal requests **3,333,000 ADA** (3,300,000 ADA for delivery and 33,000 ADA for the 1% budget administration fee) for Dano Finance to accelerate the **DeFi Kernel** as an open standard for shared liquidity, on-chain financial intents, and global order-book coordination on Cardano. Cardano DeFi is still fragmented. DEXs, lending protocols, options protocols, marketplaces, and future synthetic asset systems often operate as separate liquidity silos. The DeFi Kernel addresses this by defining a common standard where compatible smart contracts are permissionless, composable, and discoverable: users can write or fill orders without a privileged batcher, contracts publish clear datum/redeemer schemas, and orders can be found through on-chain mechanisms such as CIP-89 beacon tokens, deterministic addresses, or other tagging methods. Dano Finance will support DeFi Kernel adoption by improving the public [**defikernel.org**](https://defikernel.org/) platform and registry so any Cardano builder can submit a compatible smart contract and make its information visible to the ecosystem. The platform will document script hashes, datum/redeemer schemas, integration steps, supported off-chain libraries, audit/security status, TVL references, and other metadata that wallets, bots, indexers, and protocols need to integrate reliably. Alongside the DeFi Kernel registry work, Dano Finance will deliver two practical DeFi Kernel-compatible primitives, **Spot Leverage Order Book** and **American Options Market-Making Pools**, plus a **Composable DeFi Transaction Builder SDK** that helps wallets, bots, indexers, and other dApps discover, compose, and settle DeFi Kernel-compatible orders. The value to Cardano is a more connected DeFi stack: a stronger DeFi Kernel platform, clearer smart contract metadata, easier integrations, deeper liquidity, better composability, new risk-management markets, and a foundation for future financial applications. Minswap Labs will serve as the budget administrator for this proposal, providing an established Cardano ecosystem administrator to support fund administration, milestone review, and accountability.

**Scalus** is an established, open-source Cardano development platform, built by **Lantr Engineering** over three years of continuous delivery. It is the integrated, JVM-native toolset for complex protocols and mission-critical applications, such as **Gummiworm L2, Bifrost bridge, SugarRush DEX, Vela stablecoin, DID / DIDComm decentralised identity**, that build on it. Its components are already reused inside Cardano's most widely used developer tooling: **MeshJS, Evolution SDK, Lucid Evolution, Cardano Client Lib, and YaciDevKit**. Many teams depend on Scalus without ever integrating it directly. This proposal funds a focused, 9-month continuation across three lines of work: - **protect** the existing infrastructure and prepare it for the upcoming **Dijkstra hard fork (maintenance and readiness)** - **deepen** its reuse across the **JVM and JavaScript ecosystems (interoperability)** - **expand** Scalus beyond protocol development toward **operating applications (first scoped application runtime)**. It is a deliberately reduced resubmission. DReps recognised the previous Scalus proposal's vision, technical quality, and delivery record, but found its scope and budget too large. This version answers that directly: the ask is cut to **₳2,464,844** over 9 months, at a conservative **\$0.16/ADA** reference rate and **no contingency**. Delivery is milestone-based, administered through audited SundaeSwap treasury contracts with an independent oversight board and third-party assurance. The goal is bounded and concrete: protect prior public investment, keep Scalus and everything built on it working through the next protocol cycle, make it more reusable across the ecosystem, and extend it from building applications to running them. It's a proportionate continuation of proven work. **At a glance** - **Ask:** ₳2,464,844 (~\$394,375 at \$0.16/ADA) · 9 months · no contingency - **Scope:** maintenance · Dijkstra hard fork readiness · interoperability (JVM + JS/TS) · a scoped application runtime - **Excludes:** standalone L1 node · full L2 integration · broad formal verification - **Vs. previous proposal:** reduced from ₳8.5M / 12 months; L1 node and third-party dependencies removed - **Team:** Lantr Engineering, three years building Scalus, every prior milestone delivered on time - **Governance:** SundaeSwap escrow · independent oversight board · third-party assurance

Blockfrost is a reliable way for developers to interact with the chain without running their own infrastructure or node. This proposal transitions Blockfrost into a free, community-governed public good, owned by the people who build on it where the Blockfrost source code, trademarks, and domains are transferred into community stewardship under an independent, community-governed not-for-profit. It funds a 18-month transition and operations into community ownership. Total ask: **₳9,832,979** (\$1,868,266 at \$0.19/₳).

This Treasury Withdrawal funds Phase 2 of a production Cardano-native ticketing platform operated by Sellout.io and built by Anvil Development Agency. Phase 1 (on-chain event creation, CIP-68 ticket minting, transfers, and attendance verification) is already live on Cardano mainnet, funded entirely by Sellout (over $130k invested). Phase 2 delivers a secondary marketplace with on-chain royalty enforcement, per-event anti-scalping controls, wallet onboarding for Sellout's 200,000+ existing users, organizer tools, an independent third-party security audit, and a professional launch campaign, anchored by the contracted Yellowstone Club 2026 concert series. This is a direct on-chain Treasury Withdrawal governance action submitted by the proposer. Intersect serves as the budget administrator by prior agreement - holding and disbursing funds through the Sundae Labs Treasury Reserve / Project-Specific Smart Contract (TRSC/PSSC) framework with independent oversight - rather than this being a submission through the Intersect budget-process portal. The withdrawal requests 4,969,231 ada (~$1,093,231 USD at $0.22/ADA) over 8 months, disbursed against milestones. Phase 2 is delivered through a new operating entity that pays a defined revenue share back to the Cardano Treasury; the team commits to repay $1,093,231 to the Treasury through this mechanism.

The Cardano Builder DAO is an ecosystem-wide, purpose-built, smart contract-governed funding mechanism to support projects advancing Cardano’s Vision 2030 through measurable ecosystem KPIs. Its role is to allocate capital to builders who can drive growth in the metrics that matter most to Cardano’s long-term success, including monthly active users, monthly on-chain transactions, and TVL.

Alchemy is a Cardano-native Bitcoin treasury protocol and BTCfi infrastructure layer proposed by a collaboration between Sundial Protocol and Charms. It gives Cardano reusable infrastructure for transparent, on-chain Bitcoin-backed structured exposure: reserve architecture, composable FIRE (BTC+) and ICE (BTC-) assets, public dashboards, integration adapters, monthly reporting, and staged launch liquidity. The proposal requests 10,000,000 ada, using a reference value of approximately USD 0.20 per ada for a total planning budget of approximately USD 2.0 million. The request is split into two separated pools. Pool 1, approximately USD 1.0 million, supports protocol infrastructure and staged launch liquidity. This pool is treasury-supported, kept separate from operating spend, deployed in tranches, and designed so that profits, yield, and returns generated by the launch liquidity position are returned to the Cardano Treasury quarterly. Pool 2, approximately USD 1.0 million, funds delivery, audit, integrations, dashboards, governance reporting, legal/compliance work, and go-to-market execution. The withdrawal is self-contained, denominated in ada, independent of any Budget Information Action, and designed to comply with the current Cardano Constitution and the prevailing Net Change Limit. Intersect is proposed as interim fund administrator, subject to confirmation and final agreement. Any administrator-held ada will be kept in auditable accounts and delegated to auto-abstain, not to a Stake Pool Operator. Sundial and Charms also commit to a rollover clause: if external investment funds Alchemy development, the development portion of this treasury request rolls into additional treasury-supported launch liquidity instead. The Treasury funds additional Cardano BTCfi depth, not duplicate compensation.

This Treasury Withdrawal funds Bringing Real-World Payments to Cardano with Wirex. 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.