This info action presents a strategic vision for Cardano 2030: to transform Cardano into the world’s most builder-friendly blockchain, enabling enterprises, developers, and communities to build globally impactful businesses. It introduces the concept of a Cardano Ease of Building Index (CEBI), a unified builder starter pack, and outcome-linked incentives to promote adoption and sustainability. The core principle is simple: when you build on Cardano, you build for the world.

The primary goal of this budget proposal is to increase liquidity on Cardano, specifically by supporting stablecoin liquidity. The secondary goal is to generate revenue for the treasury. 50,000,000 ADA is requested to create a fund composed of ADA and fiat backed stablecoins to support the Cardano decentralized finance (DeFi) ecosystem. The majority of the funds (99%) in this budget will be disbursed to DeFi protocols including decentralized exchanges (DEXs) and lending protocols to help seed liquidity on Cardano. Funds must only contain ADA, fiat backed stablecoins, and liquidity tokens from deployment into DeFi protocols. The funds will be managed from a smart contract administered by a 9 person interim committee composed of publicly identified individuals with oversight from a newly established treasury DAO (tDAO), where membership in the treasury DAO includes decentralized representatives (dReps). After 1 year, the tDAO will be required to elect a new committee or else no actions can be taken. The tDAO has the oversight abilities to impeach, elect, and ultimately shut down the fund and return funds to the treasury. In addition to the fund, this proposal will establish a number of public goods including a legal framework for future community involved proposals like this as well as an open source governance contract with executive and oversight functionality.

The primary goal of this budget proposal is to increase liquidity on Cardano, specifically by supporting stablecoin liquidity. The secondary goal is to generate revenue for the treasury. 50,000,000 ADA is requested to create a fund composed of ADA and fiat backed stablecoins to support the Cardano decentralized finance (DeFi) ecosystem. The majority of the funds (99%) in this budget will be disbursed to DeFi protocols including decentralized exchanges (DEXs) and lending protocols to help seed liquidity on Cardano. Funds must only contain ADA, fiat backed stablecoins, and liquidity tokens from deployment into DeFi protocols. The funds will be managed from a smart contract administered by a 9 person interim committee composed of publicly identified individuals with oversight from a newly established treasury DAO (tDAO), where membership in the treasury DAO includes decentralized representatives (dReps). After 1 year, the tDAO will be required to elect a new committee or else no actions can be taken. The tDAO has the oversight abilities to impeach, elect, and ultimately shut down the fund and return funds to the treasury. In addition to the fund, this proposal will establish a number of public goods including a legal framework for future community involved proposals like this as well as an open source governance contract with executive and oversight functionality.

This Treasury Withdrawal funds 12 months of full active maintenance and development for GovTool, the open-source, community-owned set of governance tools that form Cardano’s core low-barrier platform for participation in on-chain governance.

GovTool enables ada holders to register, delegate, propose, vote, and transparently view outcomes. It is actively maintained and expanded by the Cardano GovTool Consortium which consists of ByronNetwork, WeDeliver, LidoNation and Dquadrant with additional open source contributors, guided by the Governance Tools Working Group.

Funding will ensure operational stability, incentivisation for community contributions, support for other open source governance tools using GovTool open-source code and APIs, and deliver accelerated functional updates across all governance pillars. Any unused funds will be returned to the Cardano Treasury.

This Treasury Withdrawal is submitted by Govtool consortium. The Abstract, Motivation, Rationale, and Vendor Profiles are drawn from the approved budget Info Action and refined to meet the constitutional requirements for a treasury withdrawal.

This withdrawal follows the approved budget Info Action for ₳1.15M and it will be administered by Intersect MBO via smart contract framework, fulfilling the constitutional requirement to detail the proposed solution, its alignment to the approved budget, and the amount to be withdrawn.

CARDANO BLOCKCHAIN ECOSYSTEM CONSTITUTION v2.0:

https://cardano.mypinata.cloud/ipfs/bafkreigr35rigmubdmv5u7vr47d2tmvhq3i245uvtmzuciyexepcvaargu

For a complete list of changes, see "List of changes from v1.0 to v2.0".

Here is a list of the major changes:

• Preamble / Article I / Article III / Appendix II: Minor wording improvements.
• Defined Terms: New definitions added for clarity.
• Article II:
  • Simplified wording.
  • Removed the Budget info action requirement for treasury withdrawals.
  • Removed outdated provisions (e.g., DRep/SPO Codes of Conduct).
• Appendix I:
  • More precise definitions.
  • Fixed typos and inaccuracies.
  • Aligned with Article II changes on treasury withdrawals.

This proposal seeks treasury support from the Cardano Foundation to strategically bootstrap liquidity for USA, a yield-bearing synthetic dollar [digital asset mimicking USD value via algorithms or derivatives] developed by SMARDEX and collateralized by long ADA positions. Already successfully deployed as USDN on Ethereum, USA uniquely combines genuine decentralization, trustless yield generation, and market-neutral stability, appealing to an underserved, critical and growing niche in the current DeFi landscape.

This proposal is more widely available on the References and Supporting Information below, with the text here being intentionally short and concise.

USA’s innovative design eliminates reliance on centralized entities or manual interventions, utilizing fully on-chain, autonomous perpetual futures markets to deliver sustainable yield. This differentiates it sharply from existing stablecoin solutions, which either lack yield entirely (e.g., GHO, sUSD) or rely on centralized management (e.g., USDe). Its Cardano-native architecture ensures seamless integration and composability within the ecosystem, avoiding cross-chain risks and enhancing resilience. By strategically deploying protocol-owned liquidity into USA, this proposal not only resolves the classic "cold start" liquidity challenge faced by new assets but actively fosters enduring economic activity and ecosystem growth. Unlike transient incentive programs that attract short-term, mercenary capital, treasury-supported liquidity in USA establishes deep, durable market foundations. The capital provided by the treasury remains fully under Cardano's control, accessible at all times through transparent, non-custodial, and permissionless smart contracts. In short, this initiative positions Cardano at the forefront of decentralized stablecoin innovation, creating lasting value through a sustainable, yield-bearing, and entirely Cardano-native asset.

This proposal establishes a Governance Workstream Consortium which establishes decentralized execution framework, ROM Multisig Model, to support the delivery of constitutional dept workstreams in Cardano. Its core aim is to ensure that budgeted governance tasks are completed verifiably, transparently, and without relying on a single administrator.

(at the time of writing the gov.tools site did not have a Parameter Change dropdown value on Propose a Governance Action page implemented yet, although I hear it is in the works)

This proposal is to change the parameter "minimum fixed rewards cut for pools (minPoolCost)" value from it's current value of 170 Ada to 0 Ada. This is to allow stake pool operators to set their fee structure as they see fit - without always forcibly taking a chunk out of pool rewards, the protocol-level action which results in continually growing gap (as the per-block reward continues to reduce over time, by staking design) in maximum ROI that a given small pool can offer compared to a big pool with similar fee structure in place.

In my early crypto journey, I fell for a scam that cost me $1,700—a loss born not from ignorance, but misplaced confidence. I believed I could outwit deception by changing the script. I couldn’t. That moment taught me that even intelligent users are vulnerable in a system that offers no safety net. What kept me grounded was Cardano: its mission of research, patience, and principled design. That mission is why I stayed.

Yet Cardano’s openness and decentralization, while empowering, also expose users to hidden dangers: cloned tokens, misleading branding, and overhyped projects. This proposal introduces a framework for improving wallet-layer safety and trust, including UI enhancements, opt-in transparency tools, and a community-reviewed case study examining the breakdown of post-ISO trust.

Ironlight is bringing Tokenization to TradFi. This is done by creating a fully regulated secondary trading venue for tokenized Real World Assets (RWA). The RWAs are private market funds, company equity and real estate. Ironlight is different from most other players in 3 major aspects:

1. Liquidity: Ironlight has secured 4 major institutions to backstop trading. Additionally, RIAs & Wealth Advisors from the major banks are market participants.

2. Sponsor Access Model: The Alternative Trading System (ATS) allows for trading & settling between anyone in the US financial system not just within it’s own network. This allows for dramatically more participants and thus facilitates liquidity.

3. Institutional Grade Technology: Built from the ground up, the technology can process 2 million messages per second at 20 microseconds per transaction. Additionally, built under Reg SCI. The technology was built at the same standard Wall Street expects for Public Market ATS/Exchanges.

This proposal is not up to date and will be done in a separate budget info action and must not be included or considered in any Intersect budget.

To see the up to date proposal see here: https://hackmd.io/@PRAGMA-org/amaru-proposal and will be submitted on chain Amaru is an open-source project that aims to build a new fully interoperable block-producing node for improving the overall accessiblity and robustness of the Cardano network without compromising on its satefy and security. Amaru provides another perspective and solution for stake pool operators and developers alike, focusing on modularity and easy-of-use. The project is implemented mainly in Rust and aims to attract new contributors to the core maintenance of the ecosystem.

This proposal is designed to breakdown the objectives, scopes, timelines and costs pertaining to Amaru. It delivers the full vision behind the project and open the discussion regarding a Cardano treasury withdrawal to sustain its development.

For better viewing experience please use this link: https://hackmd.io/@PRAGMA-org/amaru-proposal

Disclaimer: The following document is a DRAFT proposal for the Amaru project. It is a collective document that describes the vision and the needs of multiple entities/actors involved in the development of Amaru.

This proposal will evolve in January 2025 following changes of scopes and resources allocated to the project

It is meant as a starting point for discussing Cardano treasury withdrawals in alignment with the incoming constitution.

As such, we invite anyone interested to comment on the following document, and share feedback with us.

Result of the estimation phase of our proposal: 6 FTEs + $60k (see https://hackmd.io/@PRAGMA-org/amaru-proposal for details)

Given our assumptions the valuation of this proposal based on a 200k$ base for an FTE, the estimation comes down to: 6 * 200k$ + 60 k$ = 1260k$

Given our assumption regarding our optimism bias (add 25% of contingency), the proposal submitted will be targetting: $1.578M as a result of the scopes covered in Amaru and ask for the equivalent in ADA at the time the treasury withdrawal is emitted.

Cardano needs to expand in French-speaking countries, especially in Africa, where innovative ideas and technologies lag far behind those in English-speaking countries. The Inkuba Blockchain Center is a pilot project that may resolve the issue.

Cosmos Collective transforms a brand-new science-fiction universe into a DAO where ADA-holders co-own the IP, vote on storylines, and share in future royalties. Our first 18-month roadmap covers (1) a Wyoming non-profit wrapper + DAO smart contracts, (2) an open-source story bible under a CC-compatible licence, and (3) Season 1 content: a web-comic and audio drama funded and green-lit entirely on-chain. We request 100 000 ADA to build the legal + technical rails, launch Founder NFTs, and prove that Cardano governance can power a sustainable, fan-driven entertainment franchise.

"a seed, from which a new and greater civilisation can grow."

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eUTxO - a seed that bares the conditions that could form the emergent environment for a secure, universal access control layer for distributed computing and systems - starting with Japanese public data.

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「新しいより偉大な文明が成長する種」。

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eUTxO - 分散コンピューティングとシステムのための安全なユニバーサルアクセス制御層の創発環境を形成する条件を育む種 - 日本の公共データから始まります.

RealToro addresses critical inefficiencies and illiquidity within the traditional real estate market, such as complex transaction processes and high barriers to entry for investment and financing. We are developing a comprehensive platform on the Cardano blockchain that allows property owners to tokenize real assets, making them searchable and transactable via smart contracts. Users can initiate decentralized leases and mortgages, fractionalize ownership, raise funding against property value, and participate in smart contract-based insurance pools. Furthermore, the platform introduces tokenized Collateralized Mortgage Obligations (CMOs) using Aiken. By leveraging Cardano's security, scalability, and low transaction costs, RealToro aims to democratize real estate investment, streamline financing, increase market liquidity, and significantly boost transaction volume and Total Value Locked (TVL) within the Cardano ecosystem.

Test

Integrate Ethereum Virtual Machine (EVM) compatibility into Cardano to enable Ethereum-based decentralized applications (dApps), smart contracts, and assets to run seamlessly on the Cardano blockchain. This integration will foster cross-chain interoperability, attract Ethereum developers, and enhance Cardano’s ecosystem with low-cost, scalable solutions.

Compel Charles Hoskinson, the founder of Cardano (ADA), to provide full transparency regarding the funds within ADA wallets, specifically those under his control or influence. The goal is to allow the Cardano community to have clear visibility into the founder's allocation and use of ADA funds to ensure proper management, accountability, and the prevention of any potential mismanagement or ethical violations.

As part of the budget approval process, it is necessary to establish a Net Change Limit. This serves as an opportunity for all governance stakeholders to formally express their positions regarding the proposed Net Change Limit, ensuring transparency, accountability, and alignment with organizational objectives.

2025 Net Change Limit of 300,000,000,000,000 lovelace (300M ada) 2026 Net Change Limit of 250,000,000,000,000 lovelace (250M ada) The Net Change Limit beyond 2027 is not defined in this governance action.

The Net Change Limit will be used when reviewing both budget actions and treasury withdrawal actions to ensure constitutionality as required by Article IV of the Constitution and the Treasury Withdrawal Guardrails outlined in Appendix I.

As part of the budget approval process, it is necessary to establish a Net Change Limit. This serves as an opportunity for all governance stakeholders to formally express their positions regarding the proposed Net Change Limit, ensuring transparency, accountability, and alignment with organizational objectives.

2025 Net Change Limit of 300,000,000,000,000 lovelace (300M ada) 2026 Net Change Limit of 250,000,000,000,000 lovelace (250M ada) The Net Change Limit beyond 2027 is not defined in this governance action.

The Net Change Limit will be used when reviewing both budget actions and treasury withdrawal actions to ensure constitutionality as required by Article IV of the Constitution and the Treasury Withdrawal Guardrails outlined in Appendix I.