{
  "@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"
          }
        }
      }
    },
    "authors": {
      "@id": "CIP100:authors",
      "@container": "@set",
      "@context": {
        "name": "http://xmlns.com/foaf/0.1/name",
        "witness": {
          "@id": "CIP100:witness",
          "@context": {
            "witnessAlgorithm": "CIP100:witnessAlgorithm",
            "publicKey": "CIP100:publicKey",
            "signature": "CIP100:signature"
          }
        }
      }
    }
  },
  "authors": [],
  "body": {
    "comment": "EMURGO upholds the importance of transparent, constitutionally grounded treasury processes that support sustainable growth for community-driven initiatives. While we strongly support grassroots contributions and have voted in favor of most within this governance action, not all included proposals align with our criteria for support.\n\nIn particular, we note that all of the initiatives listed are already being considered for funding under the Intersect MBO 2025 framework. Proceeding with an overlapping Info Action introduces the risk of duplicated funding efforts and compromises the clarity and accountability we strive for in treasury allocation.\n\nTo maintain consistency, prevent redundancy, and reinforce the integrity of Cardano’s budgetary systems, EMURGO has chosen to vote ‘No’ on this governance action. We continue to encourage all proposals to follow the established, transparent channels to ensure long-term fiscal responsibility and alignment with the community’s governance model."
  },
  "hashAlgorithm": "blake2b-256"
}