“Cardano Foundation Announces Commitment to Decentralized Governance with CIP-1694 and Participation in Cardano Ballot Event”
The Cardano Foundation has reaffirmed its unwavering commitment to advancing the goals of CIP-1694 and propelling Cardano towards a fully decentralized governance structure. In line with this objective, the foundation has announced its intention to utilize its 11.4 million ADA treasury for voting in the upcoming Cardano Ballot event.
Having witnessed the evolution of the Cardano blockchain in recent years, the focus has now shifted towards the decentralized governance policies within Cardano to ensure its long-term sustainability. CIP-1694 represents a decentralized governance mechanism on the Voltaire era of Cardano, which will provide the necessary building blocks for the Cardano network to become self-sustaining.
The impact of CIP-1694 on the future governance of Cardano cannot be overstated. Therefore, the upcoming vote on CIP-1694, utilizing the “Cardano Ballot” developed by the Cardano Foundation in partnership with Input Output and Intersect, serves as a litmus test in Voltaire’s governance journey thus far.
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The “Cardano Ballot” is a non-binding poll that allows the community to offer more formal feedback on Cardano’s on-chain governance process. Aside from the voting aspect, the feedback provided will help shape the plans and priorities for the 2024 governance and development initiatives.
Concurrently, the Cardano Foundation states its active participation in the upcoming Cardano Ballot event by voting affirmatively with a single wallet holding 11,429,000 ADA. Given the stake-based nature of the Cardano voting, participation requires an attached browser (software) wallet that supports CIP-30 and at least one Lovelace wallet by November 21.
The voting for the Cardano Ballot event commences on December 1 and continues until December 11.
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