{ "@context": { "@language": "en", "CIP100": "https://github.com/cardano-foundation/CIPs/blob/master/CIP-0100/README.md#", "CIP136": "https://github.com/cardano-foundation/CIPs/blob/master/CIP-0136/README.md#", "hashAlgorithm": "CIP100:hashAlgorithm", "body": { "@id": "CIP136:body", "@context": { "references": { "@id": "CIP100:references", "@container": "@set", "@context": { "GovernanceMetadata": "CIP100:GovernanceMetadataReference", "Other": "CIP100:OtherReference", "label": "CIP100:reference-label", "uri": "CIP100:reference-uri", "RelevantArticles": "CIP136:RelevantArticles" } }, "summary": "CIP136:summary", "rationaleStatement": "CIP136:rationaleStatement", "precedentDiscussion": "CIP136:precedentDiscussion", "counterargumentDiscussion": "CIP136:counterargumentDiscussion", "conclusion": "CIP136:conclusion", "internalVote": { "@id": "CIP136:internalVote", "@container": "@set", "@context": { "constitutional": "CIP136:constitutional", "unconstitutional": "CIP136:unconstitutional", "abstain": "CIP136:abstain", "didNotVote": "CIP136:didNotVote" } } } }, "authors": { "@id": "CIP100:authors", "@container": "@set", "@context": { "did": "@id", "name": "http://xmlns.com/foaf/0.1/name", "witness": { "@id": "CIP100:witness", "@context": { "witnessAlgorithm": "CIP100:witnessAlgorithm", "publicKey": "CIP100:publicKey", "signature": "CIP100:signature" } } } } }, "hashAlgorithm": "blake2b-256", "body": { "summary": "We have determined that this treasury withdrawal governance action is constitutional.", "rationaleStatement": "The governance action with ID \"gov_action1lwudrf9g66mzlrxhq62y5pvzhzzv9wgps7u04kne202udge7kknsqlgmhse\" and title \"Eternl: Path to Sustainability - v2\" is a Treasury Withdrawal, and is therefore subject to the following sections and guardrails in the Cardano Constitution.\n\nARTICLE II, Section 6 of the Cardano Constitution states that governance actions must follow a standardized and legible format, including a URL hosting an immutable document and a corresponding hash, and must provide sufficient rationale including a title, abstract, justification, and supporting materials.\n\nThis governance action includes a valid URL and hash, which matches the hash of the off-chain documentation referenced. The rationale also meets the minimum content specified in this section.\n\nARTICLE II, Section 7 specifies that Treasury Withdrawal governance actions must include the following:\n\n1\\. Purpose, Delivery Period, Costs, and Refund Conditions\n\nThis governance action specifies:\n\n- The purpose of the withdrawal as \"This proposal enables 12 months of operations, maintenance, and improvements. It includes frontend and backend maintenance and development, backend infrastructure, user support, and day-to-day operations.\"\n- In the table under the Summary heading that the \"Delivery period\" is \"12 months\".\n- The relevant costs and expenses under the heading \"Budget and Budget Breakdown\".\n- The circumstances under which funds may be refunded to the Cardano Treasury as \"If the Ada price is above $0.1787 when you convert the funds, what will you do? We will only keep $420,000 in stablecoins; the remaining Ada will be returned to the treasury.\"\n\nThese elements fulfil the requirements of Article II, Section 7(1).\n\n2\\. Prior Treasury Funding Disclosure\n\nARTICLE II, Section 7(2) requires disclosure of whether the prospective recipient has received ada from the Cardano Treasury within the last 24 months.\n\nThis governance action states that \"Tastenkunst GmbH was the recipient of treasury funds from the 2025 budget process\". This fulfils the requirement of ARTICLE II, Section 7(2).\n\n3\\. Net Change Limit (NCL)\n\nARTICLE II, Section 7(3) requires that Treasury Withdrawals must not exceed the Net Change Limit.\n\nThe Net Change Limit in effect at the time of submission of this vote on-chain is the governance action with ID \"gov_action1m3xx08yv788vfxqh6nfvrjtvmqpwezsy0ggaczctkyjmttc2wmxsq4jsr7q\".\n\n- A. Current NCL Amount: 350000000 ada\n- B. Current NCL Time Period: Epoch 613 to Epoch 713 (Inclusive)\n- C. Total of Treasury Withdrawals within the Current NCL Time Period: 296536117 ada\n- D. Amount of this Treasury Withdrawal: 2350000 ada\n- E. \"C\" plus \"D\" = 298886117 ada\n- F. \"A\" minus \"E\" = 51113883 ada\n\nAs the value of \"F\" is greater than or equal to zero, this governance action fulfils the NCL requirement.\n\n4\\. Audit Allocation and Oversight Metrics\n\nARTICLE II, Section 7(4) states \"Treasury Withdrawals actions shall require an allocation of ada as a part of such funding request to cover the cost of periodic independent audits and the implementation of oversight metrics as to the use of such ada.\"\n\nThis governance action states that \"The Audits allocation covers periodic independent audits of treasury fund use and the implementation of oversight metrics. It is not a technical security audit budget.\", which fulfils the requirements of ARTICLE II, Section 7(4).\n\n5\\. Designated Administrators\n\nARTICLE II, Section 7(5) requires that one or more administrators are designated to monitor fund usage and ensure deliverables are achieved.\n\nThis governance action states that \"Tastenkunst GmbH will be the treasury fund administrator for this proposal.\", which fulfils this requirement.\n\n6\\. Fund Management Requirements\n\nARTICLE II, Section 7(6) states \"Any ada received from a Cardano Blockchain treasury withdrawal, so long as such ada is being held by an administrator prior to further disbursement to the Treasury Withdrawal Recipient, must be kept in one or more separate accounts that can be audited by the Cardano Community, and such accounts shall not be delegated to an SPO but must be delegated to the predefined abstain voting option.\"\n\nThis governance action specifies the following withdrawal address, which at the time of assessment is not delegated to an SPO and is delegated to the auto abstain voting option:\n\n- stake1u92flcyspwcp92lmgs0p47vdjrrek96l07cv3v6033wddfc8h620a\n\nFinally, the guardrails that require consideration for this governance action are TREASURY-01a, TREASURY-02a, and TREASURY-03a. These are addressed as follows:\n\n- TREASURY-01a - The net change limit with governance action ID \"gov_action1m3xx08yv788vfxqh6nfvrjtvmqpwezsy0ggaczctkyjmttc2wmxsq4jsr7q\" is currently in effect, after being \"agreed by the DReps via an on-chain governance action with a threshold of greater than 50% of the active voting stake\".\n- TREASURY-02a - As per the above assessment, this treasury withdrawal does not exceed the current Net Change Limit.\n- TREASURY-03a - This treasury withdrawal is denominated in ada.\n\nWe therefore find this governance action **Constitutional**.", "precedentDiscussion": "None", "counterargumentDiscussion": "None", "conclusion": "This governance action sufficiently fulfils the criteria specified for treasury withdrawals in the Cardano Constitution, so is deemed constitutional.", "internalVote": { "constitutional": 5, "unconstitutional": 0, "abstain": 2, "didNotVote": 0 }, "references": [] }, "authors": [ { "name": "Eastern Cardano Council", "witness": { "witnessAlgorithm": "ed25519", "publicKey": "a12e0d6516828fd47afc70e2eccdfa11a4f4c76cb5eca55bdc9349865a70e4fe", "signature": "a66a57e03be827d3d11442a4389add59d81dc802cfbbb80d99bbe88865f4f2d9883d363485e3db01e2d3dbdc53f7fe0b44ef5df446d89576a4b7a2f4487d3009" } } ] }