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    "comment": "Summary\nEMURGO as a DRep votes ABSTAIN on the treasury withdrawal titled \"Blockfrost: Maintenance and Next Generation Indexing\", with rationale outlined below.\nRationale\nBlockfrost has played a meaningful role in lowering the barrier to building on Cardano, and Project Cayley addresses a genuine infrastructure challenge. As Leios scales throughput, the cost of full-chain indexing will become increasingly prohibitive for smaller operators, and a decentralized slice indexing model is the right direction for ensuring that data infrastructure remains accessible as the network grows.\n\n\nThe concern is not with the Cayley work itself, but with the structure of this proposal. Bundling new R&D infrastructure with an operational subsidy for an existing commercial service makes it difficult to evaluate the two components on their own merits. The operational subsidy raises reasonable questions about where the appropriate boundary lies between treasury support and the commercial sustainability of a freemium business that operates a paid tier alongside its free offering.\n\n\nEMURGO believes both components may have merit when assessed independently, and would find it easier to take a clear position if they were presented separately. A proposal focused on Cayley as standalone infrastructure work, with the operational subsidy either restructured or accompanied by clearer financial transparency, would provide a stronger basis for treasury consideration.\n"
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