hash algorithm: blake2b-256
body:
  summary: We have determined that this treasury withdrawal governance action is constitutional.
  rationale statement: The governance action with ID "gov_action122wue2k65qq8gmpz795z2axt8apka6ay6xt3pwg8jxj5yfkujmtsqvlfpu7" and title "Withdraw 120,000,000 ada for AlphaGrowth’s Cardano PRIME" is a Treasury Withdrawal, and is therefore subject to the following sections and guardrails in the Cardano Constitution. ARTICLE 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. This 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. ARTICLE II, Section 7 specifies that Treasury Withdrawal governance actions must include the following: 1\. Purpose, Delivery Period, Costs, and Refund Conditions This governance action specifies: - The purpose of the withdrawal as "This Treasury Withdrawal funds Cardano PRIME, a 12-month community-overseen program to improve DeFi protocol readiness, responsibly activate incentives, and grow durable liquidity across Cardano markets." - The period for delivery of proposed activities as "a 12-month community-overseen program". - The relevant costs and expenses as "The withdrawal requests ₳120,000,000, with USD figures included only as planning references at the $0.16/ADA assumption. The request is denominated in ada, includes a dedicated ₳2,000,000 independent audit or assurance allocation". - The circumstances under which funds may be refunded to the Cardano Treasury as "return-to-treasury triggers for unused, unearned, or unreleased funds" and "six return triggers for unused, unearned, unreleased, or excess funds". These elements fulfil the requirements of Article II, Section 7(1). 2\. Prior Treasury Funding Disclosure ARTICLE II, Section 7(2) requires disclosure of whether the prospectiv…
  precedent discussion: None
  counterargument discussion: None
  conclusion: This governance action sufficiently fulfils the criteria specified for treasury withdrawals in the Cardano Constitution, so is deemed constitutional.
  internal vote:
    constitutional: 5
    unconstitutional: 0
    abstain: 2
    did not vote: 0
authors:
  name: Eastern Cardano Council
  witness:
    witness algorithm: ed25519