{
  "@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",
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          "@context": {
            "GovernanceMetadata": "CIP100:GovernanceMetadataReference",
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            "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"
          }
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    "authors": {
      "@id": "CIP100:authors",
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      "@context": {
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          "@id": "CIP100:witness",
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  "hashAlgorithm": "blake2b-256",
  "body": {
    "summary": "We consider this governance action to be constitutional.",
    "rationaleStatement": "This proposal is a Treasury Withdrawal Governance Action to withdraw ₳12,332,031 from the Cardano Treasury in connection with \"Bifrost: Unlocking Bitcoin DeFi on Cardano - Road to Mainnet (Phase 1 of 2)\" by Lantr Engineering and FluidTokens. This proposal refers to the proposal document on IPFS and presents the proposal's title, summary, rationale, and justification. 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 deploy the Bifrost bridge - which enables Bitcoin DeFi on Cardano - to the audited mainnet, with an implementation period of approximately nine months designated as Phase 1. Furthermore, it outlines deliverables for each milestone, success criteria, a roadmap, scope of work, budget breakdown, and reporting structure. Regarding Article 2, Section 7, Paragraph 2, this proposal discloses Lantr Engineering's prior Treasury Withdrawal within the past 24 months, including the allocation amount, receipt status, and corresponding Governance Action. It also separately discloses prior Project Catalyst funding received by FluidTokens and Lantr Engineering for Bifrost. Regarding Article 2, Section 7, Paragraph 3, we confirm that the requested amount of ₳12,332,031 falls within the applicable Net Change Limit. Regarding Article 2, Section 7, Paragraph 4, this proposal outlines the establishment of a supervisory framework comprising an independent Oversight Board, an independent technical assurer, and an independent financial auditor, and specifies that milestone-based reviews, public reporting, technical assurance, and financial audits will be conducted. Regarding Article 2, Section 7, Paragraph 5, this proposal outlines the separation of grant administration from the bridge's operating entity, establishing a system for fund management via an escrow contract and oversight by an independent Oversight Board. Regarding Article 2, Section 7, Paragraph 6, this proposal adopts fund management via an escrow contract using the SundaeSwap treasury-contracts framework. Furthermore, this framework specifies that funds will not be delegated to the SPO; instead, they will be delegated to DRep via a predefined abstention voting option, and any remaining funds after the contract's expiration will be automatically returned to the Cardano Treasury. Therefore, as no clear conflict with the Cardano Constitution has been identified, this proposal is deemed constitutional.",
    "precedentDiscussion": "None",
    "counterargumentDiscussion": "Under this proposal, the long-term stewardship structure is scheduled to be determined during Phase 1, and the final operating entity has not yet been finalized. It was pointed out that this is a key issue in assessing implementation risks and sustainability.",
    "conclusion": "For the reasons stated above, we determine that it is constitutional.",
    "internalVote": {
      "constitutional": 3,
      "unconstitutional": 0,
      "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": "7205c9d8b7e7f8114a7d38d9292beac097e5b3f843f444ee2e70989e6c9adaa67a497d376004f2658ca625b6951db37c7b7ad2bed37f8f97df0afddd07f51109"
      }
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}