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Cardano Foundation Demonstrates Commitment to Decentralized Governance
The Cardano Foundation has affirmed its unwavering commitment to advancing the objectives of CIP-1694, aiming to propel Cardano toward a fully decentralized on-chain governance structure.
In pursuit of this commitment, the Cardano Foundation has declared its intention to leverage its 11.4 million ADA wallet to participate in the upcoming Cardano ballot event.
Transition to Decentralized Governance
As the Cardano blockchain’s ecosystem has evolved, there is now a heightened focus on the decentralized governance policies of Cardano to ensure its long-term sustainability.
CIP 1694 stands as an on-chain decentralized governance mechanism for Voltaire, the Cardano governance era. It plays a crucial role in providing the final elements needed for the Cardano network to achieve self-sustainability.
The impact of CIP-1694 on the future of Cardano governance is substantial. Therefore, the polling event on CIP-1694, facilitated by the “Cardano Ballot” developed in collaboration with Input Output and Intersect, serves as an assessment of the progress on the Voltaire governance journey.
The Cardano Ballot: Shaping Governance Initiatives
The “Cardano Ballot” functions as a nonbinding poll, enabling the community to offer more formal feedback on Cardano’s on-chain governance process. Beyond casting votes, the feedback gathered will contribute to shaping the plans and priorities for governance and development initiatives in 2024.
In alignment with this commitment, the Cardano Foundation has announced its active participation in the upcoming Cardano Ballot event. It will cast a “yes” vote using a wallet containing 11,429,000 ADA.
Given the stake-based nature of the Cardano Ballot, participation requires a browser extension wallet (software wallet) supporting CIP-30 and a minimum staking of one Lovelace before Nov. 21.
The polling for the Cardano ballot event is scheduled to commence on Dec. 1 and will continue until Dec. 11.
