Detalhes da Proposta
Establishing a Governance-Enforced Hard Cap of 45 Billion ADA Tokens
brodystringer
Resumo
This proposal aims to set a formal hard cap of 45 billion ADA tokens on the Cardano blockchain, ensuring no further issuance of tokens beyond this limit. This will protect ADA’s scarcity, preserve its long-term value, and align with the decentralized governance model of Cardano. By enshrining the hard cap through governance, the proposal guarantees economic stability for all stakeholders and promotes the sustainability of the network.
Motivação
The current supply cap of 45 billion ADA tokens is not yet formalized as a governance-enforced hard limit, leaving open the possibility of future inflation or token issuance beyond this threshold. Such ambiguity could erode trust in the network’s tokenomics, potentially leading to inflation, which dilutes the value of existing holdings and introduces economic uncertainty.
This lack of formal governance over ADA’s maximum supply poses a long-term risk to the Cardano ecosystem. Without a hard cap, stakeholders have no guarantee that future governance actions won’t lead to inflationary pressures, damaging investor confidence, and undermining the sustainability of the network.
Justificativa
This problem is solved by formalizing the existing 45 billion ADA cap as a governance-enforced hard limit, preventing any further issuance of tokens. This will eliminate any ambiguity regarding ADA’s maximum supply and ensure that the network maintains a predictable and inflation-resistant monetary policy.
By enacting this hard cap through Cardano’s decentralized governance model, we allow ADA holders to protect the token’s value collectively. This governance-led approach ensures that economic stability is controlled by the community, preventing centralized actors or future decisions from altering the cap without broad consensus.
This change promotes long-term sustainability, as the fixed supply of ADA, combined with its staking rewards and transaction fees, will ensure that the network remains secure and economically sound without reliance on inflationary tactics.
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Comentários (24)
Agree, this was the given Max. supply since the beginning and also 1 ADA can be split up until 1 Lovelace. No need for higher the Max. supply.
If the constiution passes, then this is a redundant proposal. I support the 45B ADA supply hardcap but will not support this proposal unless the constitution vote fails.
Great idea!
ADA Supply is Hard Capped
Excellent Idea
This should probably be just a vote to see where people stand currently and nothing else. There's nothing stopping a current decision from being overrun in the future anyway. And it should 100% not be possible to have decisions that cannot be overrun.
A deeper conversation must occur to understand if such lang is needed.. given tech limits.. I understate a formal statement may be required as a policy statement for clarity....
I support this proposal as it guarantees ADA's long-term value by formalizing a hard cap, ensuring economic stability and preventing future inflation. This is crucial for maintaining trust in the Cardano ecosystem.
Agreed that a hard cap of 45 Billion ADA should be present in the constitution, otherwise governance action can change this even if it is hard coded in the ledger. The ledger can be changed, such as if we wanted to implement minimum variable fee.
Hard cap, or not, if further clarification is necessary (besides the hard coded-shelley restraints) it needs to be in the constitution, not simply a proposal.
The concept of monetry inflation is extremely complex and especially so when looking at global economic activity. There are no simple or correct answers to problem of having a deflationary asset as a global currency, like BTC or ADA.
This is one of the constitutional workshop question (tenets section): "Should there be an additional tenet addressing financial sustainability? If yes, what should it contain? Should it include an absolute cap on the circulating supply of ada?"
I think there should be at least two drafts of the Constitution, one with the hard cap and one without. We can use Info Actions to narrow and down and then when we vote to ratify the Constitution, the delegators' intent should be reflected.
I think a more useful discussion is how to sustain the reward distribution to the SPOs for the long term when the ADA token emissions drop to dangerously low if we're hard-capping ADA to 45 Billion.
As mentioned in @af post, the 45B is already hardcoded into the shelley-genesis, meaning that the desired outcome of the proposal is already done which makes the proposal obsolete.
This parameter is hardcoded in shelley-genesis.json for all nodes: maxLovelaceSupply: 45,000,000,000,000,000 lovelace. Link: https://book.world.dev.cardano.org/environments/mainnet/shelley-genesis.json It's also in the formal ledger spec, so no gov action
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