{
  "@context": {
    "CIP100": "https://github.com/cardano-foundation/CIPs/blob/master/CIP-0100/README.md#",
    "hashAlgorithm": "CIP100:hashAlgorithm",
    "body": {
      "@id": "CIP100:body",
      "@context": {
        "references": {
          "@id": "CIP100:references",
          "@container": "@set",
          "@context": {
            "GovernanceMetadata": "CIP100:GovernanceMetadataReference",
            "Other": "CIP100:OtherReference",
            "label": "CIP100:reference-label",
            "uri": "CIP100:reference-uri",
            "referenceHash": {
              "@id": "CIP100:referenceHash",
              "@context": {
                "hashDigest": "CIP100:hashDigest",
                "hashAlgorithm": "CIP100:hashAlgorithm"
              }
            }
          }
        },
        "comment": "CIP100:comment",
        "externalUpdates": {
          "@id": "CIP100:externalUpdates",
          "@context": {
            "title": "CIP100:update-title",
            "uri": "CIP100:uri"
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        }
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    },
    "authors": {
      "@id": "CIP100:authors",
      "@container": "@set",
      "@context": {
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        "witness": {
          "@id": "CIP100:witness",
          "@context": {
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            "publicKey": "CIP100:publicKey",
            "signature": "CIP100:signature"
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  "authors": [],
  "body": {
    "comment": "This proposal seeks to establish a Net Change Limit (NCL) of 300 million ADA for the period from epoch 563 (8 June 2025) to epoch 635 (3 June 2026). The NCL defines the maximum amount of ADA that can be withdrawn from the Cardano Treasury during this period.\n\nThe set NCL of 300 million ADA is reasonable considering the fact that it covers ~72 epochs.\n\nAs a DRep, I support this NCL proposal because it upholds the constitutional requirement for controlled Treasury spending, supports the funding of year-long proposals starting in mid-2025, and ensures governance continuity. The 300M ADA cap is aligned with projected Treasury inflows, maintaining a responsible balance between innovation and sustainability."
  },
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}