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  "body": {
    "comment": "I have decided to vote “no” to the first Net Change Limit proposal (7f320409d9998712ff3a3cdf0c9439e1543f236a3d746766f78f1fdbe1e06bf8#0). A Net Change Limit is a requirement before any treasury withdrawals can occur, as mandated by the Cardano Blockchain Ecosystem Constitution. Currently, there are two competing Net Change Limit proposals up for voting. This one, the first Net Change Limit proposal, has suggested two limits, one for 2025 at 300 million ada and one for 2026 at 250 million ada. I prefer these values over the second, higher proposal of 350 million ada.\n\nHowever, I cannot vote in favour of this proposal in its current form as it was submitted using a mutable reference which was in fact altered within 48 hours of submission, resulting in a mismatching hash and causing confusion among voters. Although this error was rectified quickly following the public acknowledgement, it nevertheless highlighted the very real risk of using mutable references that could be potentially changed with malicious intentions in the future. Voters should be allowed to vote with confidence in knowing that what they are voting on will not change after they have voted. The confusion caused among voters in first few days of this proposal being live erodes trust and wastes voters’ valuable time.\n\nI would like it to be noted that I have no issue with the proposal attempting to establish a higher mandate for itself. Although TREASURY-01(a) in Appendix I Section 3 of the Cardano Constitution mandates that a Net Change Limit must be agreed with a threshold greater than 50%, I do not have a problem with a proposal stating that it would consider a higher threshold for itself in order to bring it in-line with other economic parameter thresholds of 67%. It would still be greater than 50%, meeting the constitutional requirement. I do not consider it an attempt to change a threshold when it is simply a self-imposing one on one particular info action.\n\nIn closing, I would also like to convey an appreciation for the attempt to submit multi-year Net Change Limits. We are already almost one-third of the way into 2025 and appreciate the level of predictability to budget forecasting that a proposed limit in advance of 2026 would have given. Should this proposal be resubmitted with a more immutable reference link and the content not change during the voting period then I would be inclined to vote yes in the future."
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