Did you only just decide that #Cardano deserved a choice? Or was that your stance while having Yoroi DRep taking all delegations on their wallet? I’m confused @emurgo_io @Emurgo_Japan @Emurgo_Ken
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📔 Cardano 的觀察日記 · EP.06
🏛️ 社群否決了峰會。而我覺得，大家可能看錯了重點
這週想聊的不是峰會本身。 而是峰會被否決之後，很多人開始說：「Cardano 的治理出問題了🧐」 看到這個說法時，我其實有不同的想法。
📊 先講事實
Cardano Foundation 提出的 2026 新加坡 Summit 預算提案，最終未能通過 DRep 投票門檻。❌
另一方面，Token2049 的贊助提案則順利獲得支持。⭕
⚖️ 同一套治理系統。同一批 DRep。卻出現了不同結果。這也是我覺得有趣的地方。
👥 峰會提案被否決後
不少人開始擔心：
❓ 社群是不是不懂行銷？
❓ DRep 是不是在亂投票？
❓ Cardano 會不會因此失去曝光機會？
這些疑問其實都合理。畢竟對很多人來說，大型峰會本來就是品牌曝光的重要工具。📢
🔍 但我觀察到的是另一件事
在投票過程中，Cardano Foundation 並不是完全沒有回應社群意見。 他們曾經調整提案內容：
．📉 降低預算規模
．🏗️ 提高自身資源投入比例
．⚖️ 試圖回應外界對成本效益的質疑
結果呢？提案還是沒過。
🗣️ 這也是為什麼我不太認同「DRep 根本沒看提案」這種說法
如果沒人看，那第一次投票和修改後的投票，理論上不會有那麼多討論。 更不會出現這麼長時間的拉鋸。⏳
我看到的反而是：
有人支持。 👍
有人反對。 👎
有人要求修改。 📝
有人認為即使修改後仍然不符合預期。 🛑
最後透過投票形成結果。 這不一定代表結果是對的。但它代表了一件事：治理正在發揮作用。 ⚙️
🔄 兩次投票的對比
EP.02 我寫過 Vision 2026。當時提案從早期大量反對聲浪，最後翻盤通過。
而這次 Summit 提案，最終沒有翻盤。❌
這兩件事放在一起看，其實很有意思。因為它們證明了一件事：
✨ 社群不是看到提案就反對，也不是看到提案就支持。
同樣一套治理機制，面對不同內容，給出了不同答案。
💡 治理真正重要的，不是最後的答案
很多人把治理理解成：讓社群決定事情。 但我越來越覺得，治理真正重要的，不是最後的答案。
--> 而是決策過程。 🗺️
是否有討論。
是否有質疑。
是否有人願意提出反對意見。
以及是否有人願意接受最終結果。🤝
🚪 換個角度看代價
所以這次 Summit 被否決，對 Cardano 來說或許少了一次大型曝光機會。這確實可能帶來代價。
但如果換個角度看，它也驗證了一件事：
⚠️ Cardano 的治理機制並不是為了讓提案通過而存在，決策是為了讓提案接受審查。然後由持份者共同做出決定。
🔭 至於這次決定到底是不是正確的？
我認為現在還太早下結論。⏳
🟢 如果未來證明 Summit 的效益遠高於成本，那社群或許錯過了一次機會。
🔴 如果未來證明這筆預算確實不值得花，那這次否決反而是一次有效的監督。
答案不在今天。答案會在未來。 而我會繼續記錄下去。✍️
#Cardano #ADA #CryptoGovernance #加密說書人 #CardanoDiary
Jun 15
📔 Cardano 的觀察日記 · EP.05
📉 這次破底，跟我寫的這四篇都沒關係
ADA 上週跌到 $0.16 附近，五年新低。 🕳️
我前四篇寫了什麼？
Vision 2026 翻盤通過。
@LayerZero_Core 還在 testnet。
創辦人 @IOHK_Charles 說要休息。
舊指控被重新挖出來。
這些事，沒有一件能解釋這次的跌幅。 🙅♂️
🌋 真正的原因，在比特幣那邊
比特幣從五月中的80,000美元以上，跌到六月初不到62,000。
📉 這波下跌是四股力量同時發生：
🦅 鷹派 Fed 政策 取消了原本市場預期的流動性支撐。
🪖 中東軍事衝突 加劇了賣壓。
📉 Strategy 的比特幣出售動作 打擊了本就脆弱的市場信心。
💸 連續 13 天的 ETF 資金外流 則代表機構需求正在撤離。
ADA 跟著破底，不是因為 Cardano 本身發生了什麼。
是整個風險資產市場，同時被抽走流動性。 🌊
我盤點的三條論點——技術、治理、生態——一條都沒被這次下跌碰到。但價格還是跌了快 20%。
⚠️ 這就是宏觀的力量。 它不需要等你的論點改變，就能讓你的倉位市值蒸發兩成。
⏳ 接下來三天，是下一個觀察點
6月16到17日，FOMC會議。 🏛️ 這是 Warsh 第一次主持的會議。
市場目前預期 Fed 維持利率在 3.50% 到 3.75% 不變的機率高達 98%，一個月前這個機率還只有 93%——代表市場對「按兵不動」的信心正在上升。這次會議特別關鍵，因為會同時公布利率點陣圖，外界會緊盯 Warsh 對 2027 年降息路徑的態度。📊
我不會去猜這次會議的結果。98% 的機率，本來就是市場已經消化過的東西。 我在意的是另一件事——
📝 6月10日公布的 CPI 數據比預期溫和，但同時 PPI 通膨數據卻飆升到 6.5%。一邊是溫和，一邊是飆升。這兩個數字放在一起，比單獨看任何一個都更有資訊量。🔍
🎯 我在等的是比特幣的反應，不是 ADA 的
ADA 現在沒有獨立的敘事能力。 🔗 它的價格動能，幾乎完全跟隨比特幣。EP.01 到 EP.04 寫的所有 Cardano 生態進展，在宏觀風暴面前，影響力是零。
這聽起來有點洩氣。但這也是我必須誠實面對的事。🤝
🧱 我的三條論點（技術、治理、生態）： 回答的是「這個項目值不值得長期持有」。
⚖️ 但「值不值得持有」跟「現在的價格會怎麼走」： 是兩個完全不同的問題。
🛑 短期，價格由宏觀決定。🚀 長期，論點由生態決定。
我會繼續寫生態這條線，因為這是我能控制、能驗證的部分。✍️ 但 6/17 這場會議，以及之後比特幣的反應，我也會記下來。
兩條線一起追，才看得清楚哪些是噪音，哪些是訊號。 ✨
#Cardano #ADA #CardanoDiary #加密說書人
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$inputendorsers | Cardano DRep retweeted
Theoretically agree. But, I don't expect institutional adoption without reforming governance.
If they look at the DRep ranking, and the use of budgets in a couple of years, I don't believe institutions will join us.
We need to look at our ecosystem from outside perspective.
Jun 14
I think Cardano is competing against ecosystems that already benefit from massive network effects. And recently, those network effects have started translating into institutional adoption as well, which makes the challenge even greater.
At this point, institutional and enterprise adoption is incredibly important. You could view each adoption as just a single event, but the users, liquidity, and market confidence they bring are almost impossible to put a value on.
Cardano needs to move beyond being just a playground for OGs. We need to attract new people, new liquidity, and broader adoption.
I believe that's the path to long-term survival and growth.
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$cerkoryn | dRep retweeted
We've seen a few large DReps retire recently, and it's highlighted the need for a stronger support network within the DRep community.
That's why we're launching the Cardano DRep Monthly Call with @IntersectMBO.
We want to create a space where DReps can ask questions, share experiences, discuss governance actions, raise concerns, and learn from one another.
📅 Last Wednesday of every month
🕒 3:00 PM UTC
Sign up : luma.com/13blom5u
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If Charles doesn't want to be "President" or "King" then why is he becoming a dRep? Shouldn't his position be "Here are my thoughts, let's debate, you guys vote". If he really is a big bag ADA holder combined with his influence, then well....ready or not, the king cometh.
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Cardano Security May Depend on Fee Growth, DRep Warns
ift.tt/QT8agvA
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Cardano Community Director role opens DRep election for Arouet Holdings seat tied to Draper Dragon Orion Fund oversight.
Read more🔽
ourcryptotalk.com/news/carda…
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I JUST READ THIS WHILE DROP DREP PLAYING ON MY PLAYLIST
Mencoba peruntungan nyari jodoh lewat tiktok (yang ternyata beneran beruntung) 🙂↕️✌🏻💕😁🙏🏻 #jjunabi au
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These are fair statements. Yet our constitution was just updated without easily trackable changes, voted in by dreps who likely didn’t read it.
Bringing direction to governance could be good, but if people are kicked from the new discord for their opinions there may be a revolt.
Interestingly we have no cap on drep delegation so contesting ‘the’ party may not be impossible. Getting people to care enough to shift their delegation may be easy if their voice is not welcome.
All hail Caesar
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Asbond retweeted
Jun 14
I DRep di Cardano segnalano carico di lavoro e pressione pubblica durante il processo di bilancio 2026
#Cardano #CardanoNews $ADA
via Cardano News
songmarketcap.com/cardanonew…
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I have voted YES ! This is a revised proposal v2 with changes suggested via community feedback.
EMURGO has voted NO on Daedalus, they wanna push there YOROI wallet (which has less features btw), so they have voted YES on there own proposal. 👎
Eternl-DRep has voted ABSTAIN on there own proposal. 👍
Its very important that we strengthen Community Wallets. I have voted YES to support the Eternl Wallet - and we all know how much we love Eternl.
So please, consider to vote YES on this proposal. ♥️
Thank you very much.
Updated proposal:
Eternl: Path to Sustainability - v2
adastat.net/governances/fbb8…
The previous proposal, “Eternl: Path to Sustainability (2026-2027),” received NO votes from CC members due to a lack of clarity regarding audits.
This new proposal is essentially the same as the previous one and adds that clarification.
Key differences:
- Added clarification on Audit funds spending and oversight metrics, as requested in the CC vote rationales.
- Updated Ada to USD conversion rates
- Changed FAQ answer: Eternl DRep abstains on this proposal
Clarification on FTEs:
Our price per FTE is $70,000 (compared to other proposals exceeding $200,000 per FTE). A reasonable lower bound rate. Our 6 FTEs are distributed across 10 people contributing to Eternl in various capacities, most of them part-time.
Thanks to everyone who took the time to vote on the first attempt.
Please consider voting on the updated proposal as well.
Cheers,
Your Eternl Team
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The problem is that I do. I’m a student of history here.
And this just more of the same.
And ADA holders like yourself and Yuta are lapping it up, again - as they get max extracted.
Now the discord/drep combo to centralise control of funds back to one person.
ggwp
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This is the flywheel. 🔄
Land data → sustainability index → yield & crop records → credit score → micro-loan → repayment → stronger reputation → updated credit score →bigger loan.
Yoram Ben Zvi breaks it down: starting with $100 micro-loans for farmers, scaling up to $1,000 — each repayment updating the farmer's and Agri-Entrepreneur's reputation on-chain.
Reputation through @andamio_teams . Credit scoring through real farm data. Microfinance distribution through Seedstars.
"Everything in the center sits on Cardano. Cardano is the trust layer."
🗳️ Share our treasury proposal with your DRep:
→ 5am.earth/cardano-proposal
#Cardano #5amEarth
@YoramBenzvi @udaisolanki @AiquantTech @ZengateGlobal
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Updated proposal:
Eternl: Path to Sustainability - v2
adastat.net/governances/fbb8…
The previous proposal, “Eternl: Path to Sustainability (2026-2027),” received NO votes from CC members due to a lack of clarity regarding audits.
This new proposal is essentially the same as the previous one and adds that clarification.
Key differences:
- Added clarification on Audit funds spending and oversight metrics, as requested in the CC vote rationales.
- Updated Ada to USD conversion rates
- Changed FAQ answer: Eternl DRep abstains on this proposal
Clarification on FTEs:
Our price per FTE is $70,000 (compared to other proposals exceeding $200,000 per FTE). A reasonable lower bound rate. Our 6 FTEs are distributed across 10 people contributing to Eternl in various capacities, most of them part-time.
Thanks to everyone who took the time to vote on the first attempt.
Please consider voting on the updated proposal as well.
Cheers,
Your Eternl Team
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Well, the fact that everything will be in one place. Lots of SPOs, DREPs, founding entities, dApp developers, and regular users will come together there. And people from all levels will be able to discuss specific issues. There are plenty of things I think about as a small DREP, but thanks to people in research or development, I might find out that they’re actually completely different. I don’t have as much insight into many of these issues as I’d like.
For me, it’s a meeting point for the entire ecosystem. A place to go for information.
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DRepを「有名だから」「よく見る名前だから」だけで選んでいませんか？
Cardanoのガバナンスでは、
DRepの投票履歴や判断傾向を見ることも大切です。
CardanoismのDRepマッチング診断は、
自分の価値観に近いDRepを探すための入口です。
cardanoism.com/governance/dr…
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And enforces a regime of shunning any dRep that does not tow the party line.
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3h
Exactly. Voting concentration is the root issue, what happens when Charles becomes a DRep and it concentrates further?
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