{
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    "@language": "en-us",
    "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#",
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    "body": {
      "@id": "CIP136:body",
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        "rationaleStatement": "CIP136:rationaleStatement",
        "precedentDiscussion": "CIP136:precedentDiscussion",
        "counterargumentDiscussion": "CIP136:counterargumentDiscussion",
        "conclusion": "CIP136:conclusion",
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  "body": {
    "govActionId": "gov_action1mlvplrdk2t7eyclqeca77ppmfq3sghkr5hdppjqhdqdd573r7q6qqms7jwt",
    "summary": "Tingvard judges the “Bifrost: Unlocking Bitcoin DeFi on Cardano — Road to Mainnet (Phase 1 of 2)” Treasury Withdrawal governance action constitutional.",
    "rationaleStatement": "This governance action requests 12,332,031 ADA from the Cardano Treasury to fund Phase 1 of Bifrost, a permissionless Bitcoin-Cardano bridge secured by Cardano’s SPO ecosystem. The proposal covers a 9-month delivery period from July 2026 to March 2027 and is intended to take Bifrost from a working testnet to launch readiness.\n\nThe proposal identifies the purpose of the withdrawal, the amount requested, the delivery period, and the scope of work. Phase 1 funds bridge hardening, security audits, formal verification, ecosystem and partner readiness, and stewardship and economic foundations for launch. Public rollout and 24 months of operations are explicitly separated into a later Phase 2 proposal.\n\nThe proposal includes three milestones covering hardening and audit readiness, security audits and mainnet preparation, and private mainnet deployment under controlled access. Each milestone includes deliverables and acceptance criteria.\n\nThe proposal provides a budget breakdown. The total request is 12,332,031 ADA, including bridge hardening and security, ecosystem readiness and partnerships, legal, stewardship and economy work, and a 10% refundable contingency.\n\nThe proposal includes refund circumstances. It states that the 10% contingency is refundable and that unspent contingency will be returned to the Cardano Treasury at the end of the term. It also includes a failsafe sweep where funds remaining in the contract after expiration sweep back to the Treasury automatically.\nThe proposal distinguishes long-term bridge stewardship from grant administration. The future stewardship structure is a Phase 1 deliverable and will govern the bridge in the long term, while grant administration during Phase 1 is handled separately through the two vendors and an independent oversight board.\n\nThe proposal identifies FluidTokens and Lantr Engineering as the two vendors and provides an independent oversight board. The board co-signs disbursements, reviews milestones, and can halt funding if delivery falters.\n\nThe proposal includes audit and assurance provisions. Periodic third-party audits will be performed by No.Witness Labs, quarterly technical reviews will be published, and an external financial auditor will review Phase 1 treasury management and fund use. Both are remunerated from funds allocated in the proposal.\n\nThe proposal addresses custody and delegation. Funds will be held and released through the SundaeSwap treasury-contracts framework, which uses audited smart contracts. The treasury contract enforces auto-abstain DRep delegation and no SPO delegation for all funds in escrow.\nThe proposal discloses prior treasury and ecosystem funding, including Lantr Engineering’s 2025 Treasury Budget allocation for Scalus and the Catalyst Fund 14 allocation for Bifrost.\n\nThe proposal states that it follows the applicable Net Change Limit and that, at the moment of submission, it is within its boundaries.\n\nTingvard therefore finds that the proposal satisfies the relevant constitutional requirements for a Treasury Withdrawal governance action.",
    "precedentDiscussion": "N/A",
    "counterargumentDiscussion": "N/A",
    "conclusion": "Tingvard finds the “Bifrost: Bitcoin-Cardano bridge secured by Cardano SPOs” Treasury Withdrawal governance action constitutional.\n\nThe proposal identifies the purpose, amount, delivery period, costs, refund circumstances, vendor and administration structure, custody and delegation arrangements, audit and oversight provisions, prior funding disclosure, and NCL position.\n\nTingvard therefore judges this governance action constitutional.",
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      "unconstitutional": 0,
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    "references": [
      {
        "@type": "RelevantArticles",
        "label": "Cardano Blockchain Ecosystem Constitution",
        "uri": "ipfs://bafkreieyuknozbtewyurfqoagvplvykadn6a4u6wglupavdz46bbsnnl6e"
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  "authors": [
    {
      "name": "Tingvard",
      "imageUrl": "ipfs://QmPkHXdK6GLtDNyyKFBWRwARFEy9TPFcbpDganixmRXwWJ"
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