{
  "@context": {
    "CIP100": "https://github.com/cardano-foundation/CIPs/blob/master/CIP-0100/README.md#",
    "hashAlgorithm": "CIP100:hashAlgorithm",
    "body": {
      "@id": "CIP100:body",
      "@context": {
        "references": {
          "@id": "CIP100:references",
          "@container": "@set",
          "@context": {
            "GovernanceMetadata": "CIP100:GovernanceMetadataReference",
            "Other": "CIP100:OtherReference",
            "label": "CIP100:reference-label",
            "uri": "CIP100:reference-uri",
            "referenceHash": {
              "@id": "CIP100:referenceHash",
              "@context": {
                "hashDigest": "CIP100:hashDigest",
                "hashAlgorithm": "CIP100:hashAlgorithm"
              }
            }
          }
        },
        "comment": "CIP100:comment",
        "externalUpdates": {
          "@id": "CIP100:externalUpdates",
          "@context": {
            "title": "CIP100:update-title",
            "uri": "CIP100:uri"
          }
        }
      }
    },
    "authors": {
      "@id": "CIP100:authors",
      "@container": "@set",
      "@context": {
        "name": "http://xmlns.com/foaf/0.1/name",
        "witness": {
          "@id": "CIP100:witness",
          "@context": {
            "witnessAlgorithm": "CIP100:witnessAlgorithm",
            "publicKey": "CIP100:publicKey",
            "signature": "CIP100:signature"
          }
        }
      }
    }
  },
  "authors": [],
  "body": {
    "comment": "I will vote YES on both of the next two GAs.\n\n200 M ADA NCL for 2025\n300 M ADA NCL for 2025 3Q- 2026 2Q\n\nBecause I think the following order is good, in which case it would be reasonable to vote YES for both:\n\n1. 300 M ADA NCL for 2025 3Q- 2026 2Q\n2. 200 M ADA NCL for 2025\n3. 350 M ADA NCL for 2025（now）\n\nThe approach of determining spending based on inflows has been well-received by the community.\n\nThe 350M ADA NCL is too large for the second half of 2025 alone.\n\nThe 200M ADA NCL may be appropriate for the second half of 2025 alone, but many of the current Cardano budget proposals are expected to cover a 12-month period, i.e., up to mid-2026. From that perspective, it seems insufficient without a separate NCL for 2026.\n\nTherefore, I would vote YES on both and recommend setting the 2026 NCL in the case where the 200M ADA NCL is approved and the 300M ADA NCL is rejected.\n\nBut personally, I think it would be better to set it as 3Q2025-2Q2026, rather than setting separate NCL 2025 and NCL 2026. This is easier to manage, since most of the Cardano budget work will probably be set in 3Q2025-2Q2026. \n---\n私は次の2つのGAの両方に賛成票を投じます。\n\n200 M ADA NCL for 2025\n300 M ADA NCL for 2025 3Q- 2026 2Q\n\n以下の順序が良いと考えているため、両方に賛成票を投じるのが妥当です。\n\n①300 M ADA NCL for 2025 3Q- 2026 2Q\n②200 M ADA NCL for 2025\n③350 M ADA NCL for 2025（now）\n\n流入額に基づいて支出額を決定するというアプローチは、コミュニティから支持を得ています。とすると、\n\n③は2025後半だけを考えると流入に対して多すぎます。\n\n②は、2025年後半のみに適用すると、妥当かもしれませんが、現在のCardano予算案の多くは12ヶ月間、つまり2026年半ばまでを対象としています。この観点からすると、2026年用のNCLを別途設定しなければ不十分であるように思われます。\n\nしたがって、私は両方に賛成票を投じ、②が承認され、③が却下された場合は、2026年のNCLを設定することを推奨します。\n\nしかし、個人的には、2025年のNCLと2026年のNCLを別々に設定するよりも、2025年第3四半期から2026年第2四半期に設定する方が良いと考えています。Cardano予算作業の大部分は2025年第3四半期から2026年第2四半期に設定されると思われるため、管理が容易になります。\n"
  },
  "hashAlgorithm": "blake2b-256"
}