{ "@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 ₳1,162,746 from the Cardano Treasury in connection with \"MLabs Core Tool Maintenance & Enhancement: Plutarch and Ply,\" proposed by MLabs LTD. 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 refers to the proposal document on IPFS and presents the proposal's title, summary, rationale, justification, and relevant supporting 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 maintain and enhance Plutarch and Ply, and the supplementary materials specify a 12-month implementation period. It also presents a breakdown of costs: ₳1,111,100 for software development, ₳17,780 for milestone audits, and ₳33,866 for Intersect budget management fees. Furthermore, the supplementary materials state that if there is a significant unused or surplus balance remaining after accounting for the costs of performing the approved work, completion, and reasonable exchange rate risk, it will be returned to the Cardano Treasury upon project completion. Regarding Article 2, Section 7, Paragraph 2, this proposal discloses past Treasury funding related to MLabs and also details past funding provided through Project Catalyst and Intersect. Regarding Article 2, Section 7, Paragraph 3, it confirms that the requested amount of ₳1,162,746 falls within the ₳350,000,000 Net Change Limit covering Epochs 613 through 713. Regarding Article 2, Section 7, Paragraph 4, the supplementary materials state that NoWitnessLabs will conduct an independent audit upon completion of each milestone deliverable and verify compliance with acceptance criteria prior to milestone payments. Additionally, a total of ₳17,780 is budgeted for the four milestone audit fees. Furthermore, this proposal outlines a governance framework that includes reporting obligations and milestone-based payment management. Regarding Article 2, Section 7, Paragraph 5, Intersect is designated as the administrator. Furthermore, a management framework that includes the management of milestone-based payments is presented. Regarding Article 2, Section 7, Paragraph 6, this proposal describes a mechanism whereby, upon enactment of this governance action, funds are directed to the Treasury Reserve Smart Contract (TRSC) stake address, withdrawn from there to the UTxOs remaining at the TRSC payment address, and then transferred to the Project-Specific Smart Contract (PSSC) using a Fund action once the legal contract is prepared and the vendor is ready. Furthermore, the proposal states that the community can audit the TRSC and PSSC through the dashboard and track metrics related to the withdrawn ADA, all of which are verifiable immutably on-chain. Additionally, it specifies 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": "49ff8d139701e16071912d5157a794aa29b4bb5e9459fe1ae55e3ad0ce841ad94de02bcffd96f16c28ad55800dfefb3de994411c57b0dce158be7dc832dbd504" } } ] }