{ "@context": { "@language": "en", "CIP100": "https://github.com/cardano-foundation/CIPs/blob/master/CIP-0100/README.md#", "CIP136": "https://github.com/cardano-foundation/CIPs/blob/master/CIP-0136/README.md#", "hashAlgorithm": "CIP100:hashAlgorithm", "body": { "@id": "CIP136:body", "@context": { "references": { "@id": "CIP100:references", "@container": "@set", "@context": { "GovernanceMetadata": "CIP100:GovernanceMetadataReference", "Other": "CIP100:OtherReference", "label": "CIP100:reference-label", "uri": "CIP100:reference-uri", "RelevantArticles": "CIP136:RelevantArticles" } }, "summary": "CIP136:summary", "rationaleStatement": "CIP136:rationaleStatement", "precedentDiscussion": "CIP136:precedentDiscussion", "counterargumentDiscussion": "CIP136:counterargumentDiscussion", "conclusion": "CIP136:conclusion", "internalVote": { "@id": "CIP136:internalVote", "@container": "@set", "@context": { "constitutional": "CIP136:constitutional", "unconstitutional": "CIP136:unconstitutional", "abstain": "CIP136:abstain", "didNotVote": "CIP136:didNotVote" } } } }, "authors": { "@id": "CIP100:authors", "@container": "@set", "@context": { "did": "@id", "name": "http://xmlns.com/foaf/0.1/name", "witness": { "@id": "CIP100:witness", "@context": { "witnessAlgorithm": "CIP100:witnessAlgorithm", "publicKey": "CIP100:publicKey", "signature": "CIP100:signature" } } } } }, "hashAlgorithm": "blake2b-256", "body": { "summary": "We consider this governance action to be constitutional.", "rationaleStatement": "This proposal is a Treasury Withdrawal Governance Action to withdraw ₳25,400,000 from the Cardano Treasury in connection with Intersect's \"Intersect: Governance coordination and technical stewardship for the Cardano ecosystem.\" This proposal met the 67% support threshold required during the Hydra voting phase of the 2026 Intersect budget process and has proceeded to the submission of an on-chain Treasury Withdrawal Governance Action in accordance with the approved budget process framework. This proposal references the proposal document on IPFS and presents the proposal's title, summary, rationale, justification, and related supplementary materials. These elements comply with the requirements of Article 2, Section 6, Paragraphs 1 and 2 of the Cardano Constitution. Regarding Article 2, Section 7, Paragraph 1, this proposal aims to facilitate governance coordination, technical stewardship, incident response, and the management of critical processes within the Cardano ecosystem; the supplementary materials specify a 12-month implementation period. Additionally, it presents a breakdown of costs for the three Work Packages and outlines a policy for returning funds to the Cardano Treasury—including funds no longer needed for approved purposes, funds that cannot be responsibly deployed, or funds remaining unused after the completion of defined programs. Regarding Article 2, Section 7, Paragraph 2, the proposal discloses the relevant Governance Actions, Governance Action IDs, amounts, and totals for funds received by Intersect and its committees within the past 24 months through previous Treasury Withdrawal Governance Actions. Regarding Article 2, Section 7, Paragraph 3, this proposal confirms that the requested amount of ₳25,400,000 falls within the ₳350,000,000 Net Change Limit covering Epochs 613 through 713. Regarding Article 2, Section 7, Paragraph 4, this proposal stipulates an independent audit and assurance by Appold and outlines a review that may include verification of deliverables, control testing, expenditure verification, and evaluation of milestone evidence. It also stipulates milestone-based withdrawals, evidence-backed reporting, and transparent disclosure. Regarding Article 2, Section 7, Paragraph 5, this proposal explicitly states that Intersect will act as the Administrator of this proposal and will implement milestone-based disbursements, supporting evidence for payments, transparent reporting, and independent third-party assurance for related deliverables. Regarding Article 2, Section 7, Paragraph 6, this proposal presents a fund management mechanism utilizing the Treasury Reserve Smart Contract and the Project-Specific Smart Contract. It outlines the process by which funds are directed to the Treasury Reserve Smart Contract upon enactment and transferred to the Project-Specific Smart Contract once the legal contract is prepared and the vendor is ready, as well as the approval structure required for management actions and oversight by an external Oversight Committee. It also states that the TRSC and PSSC cannot be staked with an SPO and are delegated to the predefined auto-abstain DRep. Therefore, as no clear conflict with the Cardano Constitution has been identified, this proposal is deemed constitutional.", "precedentDiscussion": "None", "counterargumentDiscussion": "It is difficult to argue that a structure in which funds for multiple projects are consolidated into the TRSC using a single receiving address is fully consistent with the requirement for \"separate accounts\" set forth in Article 2, Section 7, Paragraph 6 of the Constitution. In light of this, some of our members deemed the structure unconstitutional, arguing that it could not be considered constitutional.", "conclusion": "For the reasons stated above, we determine that it is constitutional.", "internalVote": { "constitutional": 2, "unconstitutional": 1, "abstain": 1, "didNotVote": 0 }, "references": [ { "@type": "RelevantArticles", "label": "CARDANO BLOCKCHAIN ECOSYSTEM CONSTITUTION", "uri": "ipfs://bafkreieyuknozbtewyurfqoagvplvykadn6a4u6wglupavdz46bbsnnl6e" } ] }, "authors": [ { "name": "Cardano Japan Council", "witness": { "witnessAlgorithm": "ed25519", "publicKey": "833ddc6eedc272e763c33b9e6ed91efea5f0a5161f05bf72c83326a9b11507de", "signature": "bbd749aa2c43b941fdd73504ed739953c69828cb5fc623ce8a0134973e45ca63504343184ea4f3016e2fa575bac434961cb909b959b7a9b0c023d761cbf65f07" } } ] }