{
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  "body": {
    "comment": "Summary\n\nEMURGO as a DRep votes YES on the treasury withdrawal titled \"Cardano at TOKEN2049 Singapore 2026: Baseline 'Platinum' Sponsorship Proposal\", with rationale outlined below.\n\nRationale\nEMURGO is the proposer of this governance action, and we want to be transparent about how we arrived at a YES vote. Our initial position was to abstain, recognising the conflict of interest that comes with voting on a proposal we ourselves submitted. Two developments have since changed that position.\nFirst, EMURGO has waived the 15% management fee that was originally included in the proposal and will refund it in full to the Treasury. Every ada requested now represents true third-party vendor costs, covering the sponsorship package, booth build, and community support, with zero economic benefit accruing to EMURGO. This decision reflects our full alignment with the community's interests: we are here as a facilitator, not a beneficiary. Second, Charles Hoskinson has personally committed his own resources to amplify Cardano's presence at the event, a signal that reflects genuine conviction in this initiative beyond any organisational interest.\nAt its core, this proposal exists for one purpose: to give Cardano builders a world-class stage. TOKEN2049 Singapore is the largest gathering of institutional capital, enterprise decision-makers, and Web3 builders in Asia, and the Platinum tier secures the second-largest booth footprint at the event, putting the people actually building on Cardano in front of the audiences that matter most. All funds are administered through Intersect's audited smart contract infrastructure, with milestone-based disbursements and a full post-event report committed within 60 days. For these reasons, EMURGO votes YES.\n"
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