Done my civic duty for Cardano and have voted on all the proposals on my docket ✅ The only vote I have abstained on is the revised Constitution, as this will require an in-depth review prior to making a decision 🤔 Like what I do? Consider delegating and making governance better for $ADA all around 🚀 drep1ytxr0lhg5j72wysva9ac2gsn4lck4gyen8ywxkqfchsqg3qs8uy44 Results with rationale for every vote: tempo.vote/drep-profile?dRep… #Cardano all the way my friends! 🥳

📢Attention SPOs and dReps only a couple days left to vote on Incentives Ballot. Voting ends June 15th app.ekklesia.vote

📢 Time to vote on Incentive changes that could affect all SPOs and delegators, voting ends June 15th. So far only 7️⃣5️⃣ SPOs or dReps have voted, over 1.2 Billion in ADA If your SPO or dRep hasn't voted please ask them to vote app.ekklesia.vote/voter-dire…

Thanks goof, appreciate the kind words. This really was everything for us. We spent 8 months building up to this point. The support was epic. It tells me people here really do like what we do and offer for Cardano. The unfortunate reality is I have mouths to feed, including my own. I cannot continue to will my way towards that. All the opportunity this space once flourished with is gone. We can’t make it to 2027 treasury season. That’s the crushing reality. It’s time for a reevaluation of our business. Makes no sense that the commercial arm of Cardano couldn’t take 5 minutes to have a convo with me or see the commercial value of the proposal. Our entire intersect process was decided by 2 people, what’s the fucking point?

🚀I've cast my votes for the 2026 Intersect Cardano Budget Process 🚀 My focus was on investment into programs that can deliver real on chain traffic for cardano:native and that can bring serious attention to our blockchain worldwide. Advertising, continued support for builders, and missing critical infrastructure spending were also included: ✅Cardano Enterprise Adoption: Production Ticketing Platform @CashAnvil ✅Dano Finance: DeFi Kernel, American Options, and Orderbook SDK @DanoFinance ✅Innovation & Growth DAO @JaromirTesar ✅Daedalus Wallet Maintenance and Improvements 2026–2027 @se7en_labs ✅Eryx: Zero-Knowledge Capabilities @eryxcoop ✅GOV.EXE by TxPipe & gf Consulting Group: Public Project Execution Integrity, Pilot in Argentina @txpipe_tools ✅Support Cardano 2030: A Techstars Strategy for Global Ecosystem Adoption & Utility. @Techstars ✅Cardano Content Creator Consortium (C4): Ecosystem Video Content Production, Marketing & Education ✅Amplify Cardano: Ecosystem Accelerator Community-Led Marketing & Events Fund ✅DeltaDeFi: Cardano Flagship Exchange: ₳5,000,000 Treasury Loan with Perpetual Upside ✅Hardware Wallet Maintenance 2026 ✅A High-Performance Partner Chain Factory using Ouroboros Tachýs Once reaching my personal NCL of ~150,000,000 ADA, the remaining proposals were a no. If so much of this NCL had not been consumed solely by IOG @IOGroup , I would have been able to be more flexible. Full Ballot: intersect.ekklesia.vote/vote… Rationales (up to personal NCL being met): docs.google.com/spreadsheets… DRep ID: drep1ytxr0lhg5j72wysva9ac2gsn4lck4gyen8ywxkqfchsqg3qs8uy44 Thank you to everyone who has put in so much work in building for #Cardano and making our blockchain better - this includes, proposers, developers, DReps, and reviewers 🥳 For those that don't get funded this year, please know that next year I hope that the majority of the NCL will go to community builders instead of IOG and the Founding Entities alone 🙏

A Budget Vote countdown timer has been set up. Please vote as soon as possible to give the proposers a chance to respond! 🙏🙏🙏 adatool.net/budget-2026-vote…

While I am not sure if we will pass or not, I am very hopeful seeing these YES votes from the top DReps. Thank you for believing in our team and the idea that Cardano should focus on applications and revenue building protocols. A lot of the builders in the space feel left out, but this is an extremely encouraging indicator. Like i said, regardless of if we pass or not, it's a bit surreal to see this much $$ moving and voting. Take a step back and enjoy what we have built here. Even though it's not perfect, it's absolutely cool af. Thank you to all DReps for your continued work.

This is a proposal I’m voting for - a real retail adoption proposal that can generate tx volume! Let’s go make this happen #Cardano DReps 🚀 $ADA all the way

Last day for Intersect voting! (21 hours left) Currently, our proposal is not passing. Which is a shame but we still feel there's hope in getting some key DReps to reconsider our proposal. Been trying to get an @emurgo_io meeting to see what we can to do align and get that vote from ABSTAIN to YES. Haven't been able to get something scheduled in time. Since I can't get a hold of them, I will just let it all out here in hopes the community can rally behind us. I really think we align with the vision they claim to be pursuing. This is a T'd up enterprise deal, with an established partner on the other side, and guaranteed work. We are an open book, so is Henry (Sellout CEO), and I really think we are passing up on a valuable opportunity and network by not passing this proposal. In addition to that, we are guaranteeing revenue to the treasury. It aligns with every possible pilar of the 2030 vision it can. We already agreed to do the work with the price drop in ADA as well (almost a $300k cut) This isn't our last hope but damn close to it. I have said it many of times, the opportunity on Cardano has been non-existent over the last 8 months. We worked hard to create this opportunity and to watch it slip through the crack is disheartening to say the least. I hope you will give me the chance to state my case face to face but please consider changing and we can work on the meeting during the next 2 weeks before live treasury action. This same point applies to @yutazzz. We have worked hard to answer your questions in a timely fashion. We have been careful to not over-lobby as well. Time for care is up, it's the last day and we need your vote! We directly answered your last question, not sure if you will have more but we want the time to answer every concern you have. The two people named in this tweet have to power to change fates. It's a scary feeling and a lot of responsibility. I wish you both the best of luck in your decisions and hope you will see how hungry we are to deliver. This message is focused at 2 DReps but it applies to all who disagree with our proposal. We are ready to run with this opportunity. We have earned our spot in this ecosystem. Please consider a YES vote. Thank you all! Especially the people out there lobbying for our proposal, it means the world to us. intersect.ekklesia.vote/ball…

Unpopular opinion: Changing the k parameter is NOT going to help you as a small SPO. But there is an on-going vote at app.ekklesia.vote/ballots/69… for SPOs DReps to make their voice heard about changes to protocol and parameter to improve the reward sharing scheme (RSS) @Cerkoryn @earncoinpool

The research proposal was approved. Congratulations to the IO for approving a key proposal for them! The funding for the Gerolamo node was not approved. This is a shame, because on the first attempt, there was really little left to approve. It seems that DReps perceive the total funding for the infra as high, or they are exhausted. The remaining budget for this cycle is ₳110.28M (~31%). Treasury Withdrawals with a high chance of approval (EMURGO Yoroi direct support) are: - Cardano Critical Integrations V2: ₳23M - IO: Hydra: ₳5.1M - Tweag Core Cardano Infrastructure: ₳18.26M If these three proposals are approved, the budget remaining for the proposals submitted in the Intersect process is ₳63.92M (18.2%). In addition, more proposals are submitted in the on-chain governance. More new ones may yet appear. When we subtract the budget for Orion Fund (₳50M, 14.2%), ₳190M was approved for infrastructure (IO, alternative nodes, research, and programming language) and events (TOKEN2049). Let's not forget that in the Intersect process, there are proposals with a high chance of approval. For example, the budget for Intersect: ₳25M budget for committees. Assuming the Intersect budget is approved, about 25% of the NCL (including Orion Fund) may eventually flow into the community. The ratio between the budget for FEs/infra/research and the rest will be roughly 75% : 25%. The declining price of ADA may negatively impact delivery. Teams planned the budget mostly around the $0.25 per ADA exchange rate. In a bear market, even an extra budget for this case may not cover this. In the next cycle, NCL will very likely be lower, probably only ₳300M. Assuming Cardano doesn't return to the top 10 and the ADA price stays similar to today or drops further, the ratio between what FEs will demand and what can flow into the community may be different. I guess that the ratio may be 90% : 10%. To avoid this scenario, I see only one way. FEs need to dramatically reduce costs. This will be a challenge for the "execution function" if we implement this institute. In dollar terms, we had a budget of about $87.5M this cycle (ADA = $0.25). The ratio is $65.6M : $21.9M. Next cycle, it may only be $45M (ADA = $0.15). That's almost half the budget. If the community were to get 25% of the 300M NCL next cycle, the budget for FEs/infra/research will be only $33.7M. That's only half the budget for this year. No one can predict the future. Crypto is volatile. DReps can approve a higher or lower NCL. Cardano's long-term sustainability and success are directly dependent on the price of ADA in the next 3-5 years. Treasury could be depleted in a few years if Cardano's downward trend in market cap continues. The more, if we are forced to increase NCL in the next cycle. The community needs to know what budget in dollar terms FEs will need in the coming years and what portion the community can get. I would like to see Cardano's maintenance and development costs decrease. Only really unnecessary things should be funded. We need to invest in commercialization, ideally through the community, not through FEs. In my opinion, the community should get at least 30-35% of the NCL in the next cycle. We'll see if that works.

I literally created an "off X" solution along with the Intersect budget process. This could all be happening there. The FEs (IO, CF, and Emurgo) all chose to circumvent it and bring the discussion to X because they provided no other means or opportunity for feedback. Ask yourself how a group of these self-same organizations will somehow fix the problem they themselves created

Cardano governance needs changes. The founding entities and Intersect have opened that discussion, and I welcome it. I hope DReps will be a part of this debate, and I hope one principle remains clear: the Treasury must stay in the community's hands. We should be honest about the context. The current push to restructure governance comes after the FEs did not get everything they wanted from the Treasury. I understand why this is frustrating. FEs may believe they know what Cardano needs most, and in many areas, they have deep expertise and a strong track record. But the community and DReps may see things differently. That is not a failure of governance. That is governance. No one knows with certainty how Treasury resources should be allocated in the best possible way. That is exactly why we need balance, checks, and open decision-making. Treasury ADA should be equally accessible to everyone: FEs, ecosystem teams, and community builders. Funding should be difficult to obtain. Public resources must face a high bar, and DReps should retain the final say. FEs should not assume they have a priority right to funding. Of course, Cardano still depends on them in many important areas. But that does not mean every budget request should automatically be approved. If Cardano introduces an execution function, we will also need stronger conflict-of-interest rules. The Constitution should protect a simple principle: the actor who benefits from a decision should not also be the actor who controls that decision. If FEs want to play an executive role, there must be clear boundaries, disclosure, and recusal rules. Execution and Treasury oversight should not be concentrated in the same hands. What we need now is mutual respect between DReps and founding entities. We need better communication channels and better ways to share context before proposals reach the on-chain stage. Many proposals were rejected because they were not sufficiently socialized, the context was missing, or important concerns were not addressed before submission. This applies not only to FEs, but to many proposers across the ecosystem. DReps have direct responsibility for the Treasury. It is their duty to ask questions, request changes, and vote NO when they believe a proposal is not ready. That responsibility should be respected. Many proposers try to ask DReps for feedback before submission, but often they do not receive it. Providing high-quality feedback often requires almost the same amount of work as reviewing an on-chain proposal. Most DReps do not have the capacity for that. Many have regular jobs, families, and other responsibilities. They may be able to handle a few proposals per month, but not dozens. A few DReps are doing an enormous amount of work, and I appreciate that, but this system is not sustainable in the long term. The low interest in CC positions is another signal that governance workload and incentives are not properly aligned. FEs and other proposers need to understand that DRep work is largely voluntary. DReps are expected to make decisions over hundreds of millions of ADA this cycle, while doing highly responsible work for free. That may be acceptable for minimum viable governance, but then we must also be honest about the limits of quality, capacity, and speed. My feeling is that this is not respected and is being used as an argument for change. That is not fair. If we want better governance, we need to give DReps the time, structure, and incentives required to process a large number of proposals responsibly. I am curious to see what changes will be proposed. I want to believe that DReps will be part of the discussion from the beginning, and that any proposal to change governance will have broad support before it is submitted on-chain. Cardano needs stronger execution. But it must not come at the cost of community control over the Treasury.

This is insanity. We’re in the place we’re at exactly because of founding entity control over $ADA governance and the treasury. The last thing we need is executive function to allow further draining of the #Cardano treasury. The pentad literally can’t help themselves but continue the conflicts of interest and use massive voting power to continue to vote themselves more of the treasury and more power. If @IOGroup @Cardano_CF and @emurgo_io / @YoroiWallet can’t survive the bear market with their current funding received, these entities need to die off. There has been ample time for the founding entities to build a self-sustainable business model, and the drain on our community cannot continue. Prove me wrong @phillip_pon @F_Gregaard @IOHK_Charles , we need sustainable leadership by example.

Really sad to see that Gerolamo will likely not pass Gerolamo would have removed the majority of the infrastructure burden a developer has to bear if they want to deploy an app on Cardano. I guess Cardano is not serious about wanting more useful applications.

Wen fix @YoroiWallet ? Still pushing ADA users to your DRep? "Governance only works when people can challenge decisions, question direction, and hold organizations accountable including EMURGO."

When I look at the 5am.Earth proposal, my thoughts go back to why I joined Cardano. To say it short, it was to level the playing fields for everyone. The 5am.Earth proposal does exactly that for farmers, while bringing users and transactions to Cardano. They are already onboarding 500 new farmers per day and Cardano has the chance to become the backbone of global agriculture. These types of proposals brings actual on-chain activity every day, no matter the market conditions. More of this!

I’m really not trying to pile on but this is the headline people see!! Brother we just funded you with half the NCL. That doesn’t feel very promising for us to push for all this funding, spend half of the NCL and hear it basically will have no return or effect on the price? If we are spending half the NCL in one place it should probably be to people who can make the token go back up, or at least create a positive narrative around it. Can we not make maintenance sexy? Can we not make a big push around multi asset treasury? I think that’s just common sense at this point when everyone is fighting for our lives there should be some gratitude for what you successfully received. Don’t take that the wrong way either. I just mean usually when people get $50m in funding for a year they are happy and it has a ripple effect. Instead we are getting a negative ripple effect because of the crash out related to research. It’s not fair that you get to be upset about that but none of us can express our opinions without being mean or bullies, even the people who have known you for 5 years. Just listen to us man, we want to help and work together. Almost all of us are willing to work with you but you have to actually hear us and take the criticism, it can’t just be an echo chamber. I also hope Charles realizes his hope, communication, and opportunity driven approach from the past 1000% can increase the price of Ada. I originally bought in entirely based on hope for a better world. Change the narrative. Lock in, talk about all the good like it’s going out of business.

Cardano cant handle another Sybil attack in intersect for the 2027 board elections. The entire board is due to be replace including the founding entity seats. I can’t handle random proposals & no category (can’t be 100% infra) I can’t handle bailing out unsustainable companies