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    "comment": "\"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks\"\nCardano’s treasury should not become the crypto equivalent of a 2009 bank bailout. While the situations differ, the principle is the same: public funds shouldn’t underwrite private risk.\nOK, maybe I started strongly (just to remind us why are we all here), but personally, I am generally not inclined towards spending Treasury funds directly for supporting individual commercial projects, regardless of how deserving they are and how much they have contributed or if there might be potential positive spillover to other projects by association. \nI am not saying I am 100% right, just that I need to be convinced that it is worth it and this proposal does not convince me. \nThe proposal partly reads as a grant. Yes, there could be down-the-line positive externalities for other projects, but overall this proposal is outside my comfort zone for using Treasury funds. \nIf a single-asset promotion of this size is approved, it may encourage other memecoins (and serious projects) to line up with “list us too” requests. They will see a precedent and they will follow it. \nWe also have some opportunity cost here. The ask for ₳5M could fund some core tooling (HD wallet libraries, indexers, etc..) that benefit all dApps, not just one token pair.\nI have to take into account that the cost of developing Aiken (compiler, standard library, language server, installer, documentation, editor integrations, testing framework and all peripheral tooling) amounted to $500k-$1M. [ https://x.com/_KtorZ_/status/1888287575464464540 ]\nWe do not know which token will succeed two or ten years from now and we cannot second guess the future, however we do know that if we do not have the tooling and the infrastructure the best will not emerge. \nSNEK's success was largely due to the team's innovative approach, but also due to the investments in core tooling made by Cardano that may seem invisible, but these investments today power the Cardano protocol and its underlying tokens. \nI think the Treasury should not give precedence to individual projects when possible to avoid selecting winners and losers. \nHowever, I am not saying my opinion should prevail, so I will give a few suggestions to improve this Treasury Withdrawal request:\n1. Make sure it is constitutional \n2. Show proof that the proposed Board of Advisors is indeed \"on board\" with this initiative. \nI did not see confirmation that the following people have accepted the proposed roles:\na. Tal Cohen, former CEO of Kraken \nb. Phillip Pon, CEO of Emurgo\nc. Rapha C-Roy, CEO of Snek Foundation\nd. Prominent leaders from the Cardano ecosystem and the compliance sector - more to come on this. \n3. See point 2d above, \"more to come on this\" sounds like unfinished business. Finish the entire proposal before submitting a Treasury Withdrawal. Also, provide Tal Cohen's current roles, not only former ones. Provide the board's biographies, instead of one-liners. \n4. Many projects can make the following argument (some with less, some with more justification): \"Backing this initiative isn’t simply an investment in a single token\" or \"This proposal isn’t just about Snek\". Essentially, no investment in a token is really just an investment in a token - as there is some spillover for Cardano. Are the ecosystem-wide risks or benefits of the proposal as currently written - worth the grant ask?\n5. SNEK has undeniably pushed the envelope. Kraken and Crypto.com listings are tangible wins. Essentially, this proposal bundles some very legitimate Cardano ecosystem pain points with a memecoin-centric marketing spend. I think these two can be linked - but I am not convinced that the spend will resolve the Cardano ecosystem pain points that were stated. \nFinally, the constitutionality of the proposal will be assessed by the Interim CC. There are some signs that there might be some possible issues for consideration in terms of constitutionality. \n"
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