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constitutional requirement to detail the proposed solution, its alignment to the approved budget, and the amount to be withdrawn.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 * Removed outdated provisions (e.g., DRep/SPO Codes of Conduct).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.