{ "@context": { "@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#", "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", "againstVote": "CIP136:againstVote" } } } }, "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": { "govActionId": "gov_action122wue2k65qq8gmpz795z2axt8apka6ay6xt3pwg8jxj5yfkujmtsqvlfpu7", "summary": "Tingvard judges the “Withdraw 120,000,000 ada for AlphaGrowth’s Cardano PRIME” Treasury Withdrawal governance action constitutional, provided the applicable Net Change Limit is agreed and has sufficient remaining capacity at enactment.", "rationaleStatement": "This governance action requests 120,000,000 ADA from the Cardano Treasury to fund Cardano PRIME, a 12-month community-overseen programme intended to improve DeFi protocol readiness, activate incentives responsibly, and grow durable liquidity across Cardano markets.\n\nThe proposal identifies the purpose of the withdrawal, the amount requested, the 12-month delivery period, and the intended programme structure. PRIME is executed by AlphaGrowth, reviewed through Operating Group oversight, and administered by Intersect as Constitutional Administrator.\n\nThe proposal describes a phased operating model. Phase 1 establishes a public current-state audit, Phase 2 identifies integration, product, and ecosystem-support gaps, and Phase 3 deploys incentives and capital only after the Operating Group affirms the Phase 3 release plan.\n\nThe proposal separates recommendation, oversight, and custody. AlphaGrowth produces analyses, recommendations, and disbursement memos. The Operating Group reviews and may veto or condition material actions. Intersect manages the withdrawn funds directly and holds them in a separate auditable account before disbursement.\n\nThe proposal therefore identifies an administrator for the withdrawal. Intersect acts as Constitutional Administrator and manages the withdrawn funds through the treasury management smart contract framework developed by Sundae Labs, together with custody solutions as required.\n\nThe proposal addresses custody and delegation. It states that funds are managed in a separate auditable account, delegated to abstain while held before disbursement, and administered through the 2026 Treasury Reserve Smart Contract and Project Specific Smart Contract framework.\n\nThe proposal includes audit and oversight provisions. It includes a dedicated 2,000,000 ADA allocation for independent audit or assurance, quarterly financial and ecosystem impact reporting, published recommendations and disbursement records, objective eligibility criteria, and conflict-of-interest protections.\n\nThe proposal includes return-to-treasury conditions. It defines return triggers for unused, unearned, unreleased, or excess funds, and states that programme funds are released only through milestone-gated and action-gated processes, including a Month 4 Phase 3 release gate.\n\nThe proposal discloses prior treasury funding. It states that AlphaGrowth has not received Cardano Treasury funding within the prior 24 months.\n\nTingvard therefore finds that the proposal satisfies the relevant constitutional requirements for a Treasury Withdrawal governance action.\n\nHowever, this finding depends on the applicable Net Change Limit. The proposal itself states that the withdrawal is conditional on an applicable Net Change Limit having been agreed under TREASURY-01a and having enough remaining capacity to cover the withdrawal in full at enactment.\n\nIf the required Net Change Limit does not meet the necessary threshold, or if there is insufficient remaining capacity under the applicable Net Change Limit at enactment, Tingvard will change its vote to unconstitutional.", "precedentDiscussion": "N/A", "counterargumentDiscussion": "N/A", "conclusion": "Tingvard finds the “Cardano PRIME” Treasury Withdrawal governance action constitutional, provided the applicable Net Change Limit is validly agreed and has sufficient remaining capacity.\n\nThe proposal identifies the purpose, amount, delivery period, administrator, custody structure, audit and oversight arrangements, prior funding disclosure, milestone and action gates, reporting obligations, and return-to-treasury triggers.\n\nTingvard therefore judges this governance action constitutional, subject to the Net Change Limit condition stated above.", "internalVote": { "constitutional": 3, "unconstitutional": 0, "abstain": 0, "didNotVote": 2, "againstVote": 0 }, "references": [ { "@type": "RelevantArticles", "label": "Cardano Blockchain Ecosystem Constitution", "uri": "ipfs://bafkreieyuknozbtewyurfqoagvplvykadn6a4u6wglupavdz46bbsnnl6e" } ] }, "authors": [ { "name": "Tingvard", "imageUrl": "ipfs://QmPkHXdK6GLtDNyyKFBWRwARFEy9TPFcbpDganixmRXwWJ" } ] }