Budget Committee Public Meetings and AMAs Summaries

Governance Budgets 2025
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Welcome to the Cardano 2025 Budget & Proposals: Meeting and AMA Summaries topic! This is your go-to resource for concise recaps of community discussions, scheduled Budget Committee AMAs, and other relevant gatherings related to the Cardano 2025 budget. Our aim is to provide transparency, clarity, and foster collaboration by highlighting the main points, decisions, and action items that emerge from each meeting. We invite you to explore these summaries, share your thoughts, and stay informed as we work together to shape the future of Cardano.

Helpful Resources

Next Steps and How to Get Involved

  1. Read the Draft Budgets: As soon as they’re posted on the Cardano Forum, dive into the details.
  2. Share Constructive Feedback: Join the conversation on the Forum threads. This is the most direct way to make your voice heard.
  3. Attend AMA Sessions: The Budget Committee holds regular AMAs covering different time zones to accommodate the global community.
  4. Spread the Word: Encourage other Cardano community members to review the budgets and provide feedback.
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(November 6, 2024)
Intersect Cardano Budget Committee AMA Recap: Top 10 Questions & Key Insights

On November 6, 2024, the Intersect Cardano Budget Committee held a two-hour open session via Zoom, inviting community members to ask questions about the first-ever proposed annual Cardano budget. This session is part of a recurring series of AMAs designed to provide transparency, clarify the budget process, and address community concerns. Below is a succinct recap of the top 10 questions raised, along with summaries of the committee’s answers and insights.

1. Why Propose a Budget Withdrawal Range of 300–500 Million ADA?

Question:
Many community members asked why the proposed budget withdrawal is in the 300–500 million ADA range. Is this number arbitrary, and how was it determined?

Answer Summary:

  • The 300–500M ADA figure is based on analyses by experienced treasurers who considered the “safe spending range” relative to Cardano’s Treasury size.
  • It factors in historical data (e.g., Catalyst withdrawals), current market conditions, and the need to maintain a healthy reserve.
  • This range is not fixed. It is a starting point for discussions with the community, dReps (delegated representatives), and the Constitutional Committee to decide an appropriate Net Change Limit for the coming year.
  • The final figure must be ratified through governance votes; nothing is set in stone yet.

2. Will All Money Be Funneled Through Intersect? Is That Too Centralized?

Question:
Some participants voiced concerns that Intersect seems to be the single entity administering all Cardano funds, effectively centralizing the process.

Answer Summary:

  • Intersect is a facilitator and administrator, not the sole decision-maker.
  • Intersect works alongside the Cardano Development Foundation (CDF)—sometimes called “Dev Trust”—which is the legal entity holding the funds.
  • The Cardano Constitution calls for an annual budget process. Right now, Intersect is stepping up to host that process.
  • Multiple committees within Intersect (e.g., Technical Steering, Product, Open-Source, Budget, etc.) bring proposals forward. Intersect’s role is to aggregate, administer, and facilitate—final approval lies with the community, dReps, and Constitutional Committee per the governance framework.

3. How Is Strategy Defined, and Where Is the Line-Item Detail?

Question:
Community members asked about Cardano’s overarching strategy, how priorities are set, and why the budget details are not fully itemized yet.

Answer Summary:

  • A Product Committee has been formed to shape Cardano’s one-year, two-year, and five-year roadmap.
  • Each Intersect committee (Technical, Open-Source, etc.) is responsible for breaking down its funding needs into deliverables.
  • Detailed budget proposals will be refined and shared publicly throughout November and December 2024 so that the community and dReps can see line items before any formal vote.
  • Final line-item approvals are expected to occur once the dReps confirm the total Net Change Limit (the maximum Treasury withdrawal) and the budget allocations to each committee.

4. Will There Be External Audits and Transparent Reporting?

Question:
Participants stressed the need for external audits, financial transparency, and regular updates to track how budgeted funds are spent.

Answer Summary:

  • Intersect and the CDF both plan to implement multilayered audits:
    1. Internal audits by Intersect’s finance team.
    2. Committee oversight and members’ working groups.
    3. External, third-party audits of the CDF’s financials, with statements published publicly.
  • There will also be quarterly reviews or “checkpoints” where committees and vendors must show deliverables, spending, and progress.
  • If these reviews reveal issues, the budget committee (and ultimately the dReps/Constitutional Committee) can halt further disbursements.

5. What Is the Timeline for Finalizing the 2025 Budget?

Question:
With so many moving parts, how soon can a final budget be approved and implemented?

Answer Summary:

  • November 2024: Open AMA sessions, public socialization of committee proposals, working-group discussions.
  • December 2024: Further budget refinement; engagement with dReps and Constitutional Committee.
  • January 2025 (Earliest): Target window for a governance vote on the final budget. (Some expect March or April if the process faces delays.)
  • These timelines depend on whether the constitutional updates are ratified on-chain and if the community or dReps raise significant changes that must be addressed.

6. What Happens If the Budget Info Action Fails to Reach 67% dRep Approval?

Question:
Several participants asked about contingency plans if the budget proposal does not pass the necessary on-chain thresholds.

Answer Summary:

  • Intersect has seed funds for operational continuity in early 2025 but cannot sustain all proposed activities indefinitely without new Treasury withdrawals.
  • If the info action fails, Intersect and committee leads would re-engage with the dReps to identify points of contention and revise the budget.
  • This would likely delay new initiatives or expansions, forcing a scaled-back approach until a revised budget can pass.

7. How Do Committees Avoid Conflicts of Interest?

Question:
Because committees also include potential service providers or vendors, how is self-dealing prevented?

Answer Summary:

  • Intersect enforces a Conflict of Interest Policy:
    • All committee members must declare conflicts up front.
    • Anyone standing to benefit financially from a proposal abstains from voting on that specific proposal.
  • Each committee’s secretary or chair is responsible for tracking and enforcing these policies.
  • Final spending also requires approvals (or at least no objection) from the dReps and possibly the Constitutional Committee, providing another layer of checks.

8. Will Intersect or the CDF Use Treasury Funds to Vote or Delegate?

Question:
A major concern was whether the newly withdrawn Treasury ADA could be used to influence on-chain governance votes.

Answer Summary:

  • The committee and Intersect leadership affirmed they do not intend to use any portion of the withdrawn ADA for on-chain voting.
  • If any member or committee proposed using the budget for voting, it would need explicit, transparent approval from the dReps/Constitutional Committee.
  • By default, no part of the budget is being earmarked to influence or manipulate on-chain votes.

9. How Will ADA Price Volatility Be Handled?

Question:
Market fluctuations could mean the budget is over-funded (if ADA price increases) or under-funded (if ADA price drops). How is that risk managed?

Answer Summary:

  • The proposed approach is a mix of ADA holdings plus converting to fiat (when necessary) to pay vendors and remain stable.
  • If the ADA price soars, unused funds remain in the CDF wallet as surplus for the following year, potentially reducing next year’s Treasury withdrawal.
  • If the price declines, the committees might need to reprioritize or reduce funding, or an additional vote could be required to amend the budget.

10. What Is the Difference Between Intersect and the CDF (Dev Trust)?

Question:
Many asked for clarity on why there are two entities (Intersect and the CDF), and how responsibilities are divided.

Answer Summary:

  • Intersect: A Wyoming not-for-profit membership organization that organizes committees and administers governance processes (like the annual budget).
  • CDF (Dev Trust): A Cayman-registered foundation that legally holds the funds on behalf of the Cardano community.
  • Intersect manages and facilitates disbursements from the CDF based on approvals from dReps and Constitutional Committee.
  • The CDF is simply the custodian. It does not make spending decisions independently; decisions flow from the Cardano governance process into actionable contracts that the CDF executes.

Conclusion & Next Steps

This November 6 AMA offered the Cardano community a chance to probe the first-ever annual budget proposal. While questions remain—particularly around line-item details, conflict-of-interest guardrails, and final approval thresholds—the Budget Committee stressed that no decisions are final until the community-driven governance steps conclude.

Key Takeaways

  1. Budget is not set in stone: The 300–500M ADA range is a starting point.
  2. Next wave of clarity: Detailed breakdowns of each committee’s requests are expected in November–December 2024.
  3. Community is essential: The dReps will have a significant say, and all members can join working groups to refine proposals.
  4. Transparency promised: Expect public audit reports, quarterly check-ins, and robust oversight to ensure accountability.

Future AMA Sessions

The Budget Committee will hold additional AMA sessions in November and December to further refine the budget. Meeting links will be shared on official Cardano channels—all are encouraged to attend. You can also stay connected via:

  • Intersect Discord (Budget Committee Channel)
  • Budget Committee Knowledge Base (To be regularly updated with new FAQs, timeline graphics, and documents)

Your feedback, skepticism, and collaboration are what will shape a community-owned funding process.

Together, let’s ensure Cardano’s first-ever annual budget charts a sustainable path for 2025 and beyond.

Watch the full session here.

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Charting Cardano’s Financial Future: Inside the First-Ever 2025 Budget Process Presentation

Introduction

In a landmark moment for Cardano’s governance, the Cardano Budget Committee hosted its first public presentation on the 2025 Cardano Budget Process at this year’s Cardano Summit in Dubai (October 24, 2024). Over the course of two hours, Lawrence Clark and Lloyd Duhon—key members of the Budget Committee—took the stage to unveil how Cardano’s first formal, community-driven budget will be shaped, managed, and audited. The interactive session drew a wide spectrum of attendees, including developers, governance advocates, ecosystem entrepreneurs, and curious community members.

Here’s a front-row look at the major takeaways, the foundational frameworks proposed, and how this first-ever budget process will usher in a new era of on-chain, member-driven governance for Cardano.

1. Setting the Stage: Why a Cardano Budget Process?

A New Era of Governance

With Cardano’s governance era in full swing—empowered by the Voltaire and Constitution updates—Cardano is moving toward on-chain budgeting to fund core development, research, community projects, and more. This budget mechanism comes from the Cardano Treasury, a protocol-level fund accumulated through transaction fees and inflation. Now, Cardano’s governance bodies (including DReps, the Constitutional Committee, and Intersect) are pioneering how to transparently allocate these treasury funds across five core “budget buckets.”

The Role of Intersect

Intersect, a Wyoming-based member organization, was created to act as a facilitator and administrator on behalf of the Cardano community. It holds sole administration rights over a Cayman-based entity nicknamed the Cardano Development Foundation (CDF)—the legal structure that receives withdrawn ADA from the treasury. As administrators, Intersect does not unilaterally spend or decide budget allocations; instead, it:

  • Coordinates committees.
  • Ensures financial auditing and compliance.
  • Manages treasury withdrawals and monthly dispersals.
  • Reports to the community and the DReps/Constitutional Committee in a transparent, member-driven way.

2. Meet the Budget Committee

Lawrence Clark (Intersect’s Director of Operations and Budget Committee Secretary) and Lloyd Duhon (Budget Committee Subject Matter Expert) introduced themselves alongside other committee members. They underscored two critical points:

  1. They Facilitate, Not Dictate. The Budget Committee’s purpose is to gather and validate spending requests from several specialized committees (Technical Steering Committee, Open Source Committee, Membership & Community, etc.), check feasibility, and assemble a final budget for community approval.
  2. Newly Elected Members. Four fresh faces—Mercy Forodo, JosĂ© VelĂĄsquez, Kristijan Kowalski, and Pepe Otegui—recently joined the Budget Committee following an Intersect member election. All members (veterans and newcomers) will shape, refine, and shepherd the budget forward.

3. The Five Budget Buckets for 2025

One of the most significant highlights was the unveiling of five distinct “budget buckets,” each with its own mandate:

  1. Core
  • Funds chain maintenance, protocol upgrades (e.g., Babel fees, L1 and L2 improvements, Ouroboros updates), and new functionalities that ensure Cardano’s operational sustainability.
  1. Research
  • Continues the chain’s legacy of rigorous scientific inquiry. Research initiatives, academic collaborations, and long-term roadmap studies fall here.
  1. Governance Support
  • Recognizes that effective governance needs operational resources for processes like DS and Constitutional Committee reimbursements, on-chain voting tooling, and improved governance frameworks.
  1. Outreach & Education
  • Aims to strengthen local and global hubs, bolster community-driven conferences, educational programs, and meetups to broaden Cardano’s reach.
  1. Community Grants
  • Aligns with the spirit of Project Catalyst and beyond, funding promising ideas, proofs of concept, and real-world pilots that can add tangible value to the ecosystem.

4. Committee Insights: From Tech to Membership

During the session, each specialized committee’s preliminary budget plans were spotlighted:

Technical Steering Committee (TSC)

  • Babel Fees and Transaction Finality: Proposed to increase network utility and throughput.
  • On-Chain Governance Improvements: Iterating governance modules for robust, decentralized decision-making.
  • Level 1 and Layer 2 Support: Seamless scalability solutions, ensuring Cardano can match real-world demand.

Open Source Committee (OSC)

  • Maintainer Retainer Program: Incentivize and reward open-source maintainers, thus diversifying commits beyond a single contributor (IOG or others).
  • Education & Outreach: Plans for internships and open-source tooling support.
  • Legal & Community Services: Provide critical open-source licensing, compliance, and design resources.

Membership & Community (MCC)

  • Digital Marketing & Regional Hubs: Elevate Cardano’s presence worldwide via localized education and event management.
  • Grants Collaboration with Catalyst: Ensuring synergy between the newly forming Intersect grants function and Catalyst, avoiding duplication.

Civics Committee

  • Governance Education & Tooling: Ensuring DReps and community members can effectively navigate proposals and on-chain votes.
  • Annual Report on Cardano Governance: A yearly “state of governance” that highlights results, metrics, and areas needing focus.

Budget Committee Plans

  • Financial Audits & Reporting: Comply with the Constitution’s requirement for regular external audits of treasury withdrawals and spend.
  • Treasury Management: Oversee monthly conversions to fiat or stablecoins to pay vendors, while maximizing staking and mitigating volatility.
  • 2026 Vision: Begin drafting improvements for the next cycle, using 2025’s experiences as a blueprint.

5. Treasury Management & the One vs. Multiple Withdrawals Debate

One of the hottest topics was whether Cardano should take a single annual withdrawal of ADA from the treasury or multiple smaller withdrawals throughout the year:

  • Single Withdrawal Pros:
    • Simpler to manage and administer.
    • Allows immediate staking of a larger ADA sum, potentially earning rewards that can supplement the budget.
    • Reduces repeated on-chain governance overhead and “cognitive overload.”
  • Multiple Withdrawals Pros:
    • Potentially more flexibility if unexpected initiatives or emergent technologies (e.g., AI, ZK proofs) demand swift funding.
    • Could let DReps shape mid-year priorities more granularly.

Ultimately, the Constitution states that any treasury withdrawal must reference an approved budget. Intersect’s current inclination is to propose a single annual withdrawal for operational simplicity—somewhere between 300–500 million ADA—but the final decision rests on DRep votes and the Constitutional Committee’s evaluation.

6. Building in Transparency, Checks, and Balances

Attendees probed the committees on issues like vendor KYC, malicious code injection, conflict of interest, and treasury depletion. Responses stressed:

  • Quarterly Reviews: The Budget Committee will publish financial performance, highlight over- and under-spending, and present new needs to the DReps and CC for sign-off.
  • Independent Audits: External accounting firms will conduct official audits per constitutional requirements, ensuring no self-audit conflicts of interest.
  • Net Change Limits: DReps may decide an annual “cap” on treasury usage to prevent sudden, massive drawdowns.
  • Long-Term Sustainability: The impetus is on committees—especially Product, TSC, and Membership—to foster greater chain usage and adoption so that recurring transaction fees can fuel a self-replenishing treasury over time.

7. Next Steps & How to Get Involved

As the session closed, Lawrence Clark and Lloyd Duhon outlined the immediate timeline:

  1. November 2024
  • Community & Committee Refinement: Weekly open meetings, Discord calls, and forum discussions to refine each committee’s draft budget.
  • CC & DRep Socialization: Committees present proposed budget lines and respond to feedback from the Constitutional Committee and DReps.
  1. December 2024
  • Info Action Votes: A formal on-chain vote to establish a Net Change Limit and adopt the 2025 Budget.
  • Treasury Withdrawal(s): If passed, Intersect proceeds to initiate treasury withdrawal(s) and sets up monthly expenditure frameworks.
  1. 2025
  • Execution & Quarterly Reviews: Committees begin implementing funded initiatives, with the Budget Committee providing comprehensive financial reporting each quarter.
  • Active Community Feedback: Any major changes, expansions, or new requests go back to DReps and the Constitutional Committee for further on-chain governance votes.

Ways to Participate

  • Join Intersect: Membership is open; members vote for committee representatives and participate in working groups.
  • Discord & Cardano Forum: Provide feedback, track new proposals, and shape policies in real-time discussions.
  • Town Halls & Hubs: Attend local/regional Cardano meetups (Sri Lanka, Tokyo, etc.) to learn about the budget in your language and context.
  • Working Groups: Volunteer for subcommittees or working groups aligned with your skill set—finance, communications, development, auditing, or more.

Conclusion

The 2025 Cardano Budget Process reflects a historic shift in how Cardano governs its resources and fosters innovation. With the Intersect Budget Committee acting as an impartial facilitator, power firmly resides with community stakeholders—DReps, Constitutional Councilors, and Intersect’s broad membership base. Yet, the real test lies ahead: Will the final budget empower new tooling, academic research, open-source contributions, and local hubs as envisioned?

This first public presentation provided not only a detailed roadmap of the who, what, and how behind Cardano’s budget process but also offered a glimpse of the ecosystem’s remarkable spirit of collaboration and self-reflection. As the committees finalize budgets, manage treasury withdrawals, and launch rigorous financial audits, the entire Cardano community is invited to witness and shape a multi-billion-dollar crypto treasury in a radically transparent, decentralized fashion—something few, if any, blockchain platforms have attempted at this scale.

Stay tuned for more updates on the Cardano Forum and official Intersect channels. The dawn of fully on-chain, member-driven budgeting is here, and everyone has a role to play in this next chapter of Cardano’s evolution.

Have questions about the budget or want to contribute your expertise?
Be sure to attend the scheduled open meetings on Discord and follow the official Cardano channels for ongoing discussions, announcements, and timeline adjustments.

See the full presentation here.

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(November 12, 2024)

Cardano Budget Committee AMA Recap

The Intersect Cardano Budget Committee held another open AMA to discuss the first-ever Cardano budget process. As Cardano moves deeper into decentralized governance, the community is eager to understand how treasury funds get managed, who manages them, and how new proposals (including those from other MBOs) can be introduced. Below are the top 10 questions and answers from this session.

1. Will Intersect Vote or Delegate With Treasury-Held ADA?

Q: One major concern is whether Intersect will itself vote as a DRep (or delegate votes) with the ADA it withdraws from the treasury.
A: No. The Board has a policy not to vote or delegate with any treasury-held ADA. Instead, if ever the DReps or constitution demanded otherwise, Intersect would defer to that directive. As of now, the default is an auto-abstain from voting to ensure no single entity is gatekeeping or influencing governance decisions with treasury funds.

2. What Is the Cardano Development Foundation in the Cayman Islands?

Q: Several references were made to a Cayman-based entity that will receive treasury funds. How transparent is it, and could it create a single point of failure?
A: This entity, often called the Cardano Development Foundation (CDF), will soon publish detailed info on its setup. The impetus is to avoid single points of failure:

  • Funds are held by a professional, compliant custodian.
  • Multiple jurisdictions and multiple entities are planned over time (CDF is just the first).
  • The goal is to diversify custody across geographies and partners, so no single country or entity can freeze Cardano’s budget.

3. Can Other MBOs or Entities Also Request Treasury Funds Directly?

Q: Will only Intersect be able to request funds, or can other independent MBOs do so as well?
A: Absolutely, others can. Intersect does not want exclusive rights. The net change limit and annual budget process exist so any recognized MBO or legitimate project can bring forth a proposal. For example, the Amaru project from Pragma MBO is preparing its own 2025 funding request. Intersect sees itself as a facilitator, not a gatekeeper.

4. Where Is the Detailed Line-Item Budget for 2025?

Q: People want a breakdown: “How much for marketing vs. core dev vs. events?” Why is this not released yet?
A: Intersect’s committees (e.g., TSC, MCC, Civics, etc.) are currently finalizing their numbers. They’re collecting input from multiple development firms, community hubs, event planners, etc. Starting mid-November, each committee will present its full proposed breakdown—both top-line “buckets” and more granular sub-items—to give the community enough detail to assess before the on-chain vote.

5. Why an Annual Budget Cycle, Instead of Ongoing Continuous Withdrawals?

Q: Some worry that only doing one or two large treasury withdrawals might be too rigid.
A: The current approach, guided by the interim constitution, says an annual (or sometimes twice-yearly) budget provides structure and predictability.

  • Less governance overhead for the DS (delegated representatives).
  • Ensures all proposals can be weighed together so we don’t overspend or underfund core essentials.
  • Leaves “headroom” for emergency needs mid-year, so urgent items won’t have to wait a full 12 months.

6. When Will We Set the Net Change Limit & Over What Period?

Q: The constitution says we need a net change limit, but not exactly how or when. How is Intersect approaching it?
A: Intersect expects to propose a net change limit in the range of 300–500 million ADA for 2025, guided by treasury experts at the Cardano Foundation and IOG. The community will see a formal info action soon. This net change limit is not the exact spend; it’s the max that can be withdrawn in that annual cycle if so approved by DReps.

7. What Happens If a Project Exceeds Its Budget Mid-Year?

Q: Projects often go over budget—especially if the ADA price fluctuates. Is there a process to amend or top-up?
A: Yes. The plan is to:

  • Leave some budget “headroom” within the net change limit, so not everything is allocated up front.
  • If a critical project needs more funds, or a new emergent priority arises, a proposal can be made under that remaining net change limit.
  • This ensures we don’t have to wait the entire next year if a truly urgent over-budget scenario happens.

8. Does Intersect’s Budget Potentially Exclude Key Founding Entities Like IOG or Others?

Q: Do the original founding entities (IOG, CF, EMURGO) still have to ask Intersect for money? Or can they come directly to the treasury?
A: Anyone, including those founders, must go through an approved budget or proposal. The difference is that the committees—and especially the Technical Steering Committee—will likely incorporate essential “core dev” items that IOG or other dev houses handle. If a founding entity wants additional or unplanned items funded, they still must present a request for that line item. This ensures equitable governance.

9. Will Core Development Still Be Dominated by IOG?

Q: There’s concern that IOG historically has done 80–100% of core dev. How does that shift in 2025?
A: The plan is for any recognized dev firm to bid or propose under TSC. In 2024, IOG was around 50–52% of the core code development load, with other shops like TXPipe, Mlabs, and others also contributing. For 2025, the TSC aims for broader distribution across multiple vendors and direct contracts, reducing any single point of reliance (including IOG).

10. How Does the Community Keep Tabs on Performance & Spending?

Q: Once the treasury funds are withdrawn, how do we ensure projects actually deliver, and money isn’t wasted?
A: Quarterly reviews. Each funded item sets milestones. The committees or relevant MBO sign off only when milestones are met. The budget committee will compile a quarterly report—showing which milestones were accomplished, how much was spent, and whether tasks are on track. If a project slips or fails, the community sees it—and can reprioritize or reallocate in future cycles.

The 2025 Cardano budget is a crucial stepping stone for ensuring that resources flow fairly and effectively to the ecosystem’s highest priorities. Your input—from clarity on net change limits to championing an MBO’s brand-new project—matters. Jump into the calls, read the proposals, and let’s keep pushing Cardano forward, together.

Watch the full AMA call here.

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November 13, 2024

Cardano Budget AMA Recap: Product Committee Spotlight

On November 13, 2024, the Intersect Cardano Budget Committee continued its series of open AMAs, this time featuring the Product Committee. Over the past two months, the Product Committee has been convening with various working groups, committees, community members, and ecosystem projects to outline draft high-level goals for 2025. Below is a synthesis of the conversation’s most pressing questions.

1. What Is the Product Committee, and Why Do We Need It?

Q: We’ve seen multiple committees—MCC, TSC, OSC—mentioned during these budget sessions. What sets the Product Committee apart?
A: The Product Committee serves as a focal point for Cardano’s strategic vision—particularly from a product and market perspective. It’s made up of a small number of voting seats and about 20+ volunteer Subject Matter Experts (SMEs). Their main job is to facilitate an open, transparent process to draft Cardano’s 2025 goals, incorporate feedback from working groups and committees, and help build a long-term, five-year vision for Cardano’s evolution.

2. What Are the Four Major Topic Areas for Cardano in 2025?

Q: In your presentation, you outlined four big “buckets” or topics for 2025. Could you recap them?
A: The Product Committee has crystallized feedback from two months of workshops into four primary topics:

  1. Get More Usage
  • Key Goal: Drive initiatives that bring developers, dApps, and end-users onto Cardano.
  • Supporting Goals:
    • Make Cardano easier to build on and use.
    • Ensure Cardano is viable and competitive among blockchain platforms.
    • Establish clear funding models for new builders (both at the layer-one and dApp level).
    • Raise Cardano’s reputation through effective marketing and external engagement.
  1. Governance
  • Strengthen and evolve Cardano’s new on-chain governance system, enabling broader community participation, stable processes post-voltaire, and robust educational outreach.
  1. Business as Usual
  • Maintain Cardano’s core infrastructure and unique qualities. Examples include hard-fork readiness, support and expansion of community initiatives, and diversifying the contributors who build and maintain the Cardano codebase.
  1. Vision
  • Outline the steps to define and continuously update Cardano’s five-year vision. This includes advanced research, designing a repeatable vision-creation process, and ensuring the community can align on long-term milestones.

3. How Does the Product Committee Handle Ongoing Feedback?

Q: If the Product Committee is collecting all this community input, when does it stop? When’s the “deadline?”
A: It’s an iterative process with no hard cutoff:

  • Right now, they’re approaching a first consolidated draft of 2025 goals.
  • Once the DS (Delegated Representatives) and the wider community show sufficient consensus, that draft will go on-chain as an info action for final approval.
  • But even after approval, the Product Committee expects to refine details, incorporate new data, and track progress as 2025 unfolds.

4. Are These Goals Already “Locked In,” or Will They Change?

Q: The four main topics sound comprehensive, but what if new technology or ideas appear mid-2025?
A: The Product Committee emphasizes flexibility. They’re suggesting that the 2025 “roadmap” remain open to updates—both from new working groups and from major developments like potential enterprise partnerships. The aim is to keep a living roadmap rather than a static, unchangeable list of milestones.

5. How Do These Goals Align with Other Committees (TSC, MCC, OSC)?

Q: We’ve heard TSC (Technical Steering), MCC (Membership & Community), and OSC (Open Source) also have “lists.” How does this unify?
A: The Product Committee’s high-level goals are meant to unify. Each specialized committee (TSC, MCC, OSC) can refer to these four broad topics (e.g., “Get More Usage,” “Governance”) when they structure their own 2025 proposals and budget lines. The committees’ proposed budgets should map back to these top-line goals.

6. How Can We Ensure Adequate Funding Beyond the Cardano Treasury?

Q: Many worry the Cardano treasury alone isn’t enough. Do you plan to court venture capital or other sources?
A: Yes—diversifying funding is a recognized priority. There’s ongoing discussion with VCs, potential accelerator programs, enterprise membership fees, and more. While the treasury remains central for core chain development, the Product Committee and other groups see the need to expand how dApp teams and side ventures secure capital, so Cardano’s growth isn’t solely tied to treasury transactions.

7. What About Partner Chains & Layer 2 Solutions?

Q: With new sidechains or partner chains adding load, how do we incorporate them in the “official” 2025 budget?
A: That question straddles both the Technical Steering Committee (for code and dev tasks) and Product Committee (for strategic approach). The Product Committee’s “Get More Usage” bucket includes an impetus to support sidechains and bridging, but the specifics—who funds what, timelines, etc.—remain under discussion across committees. They confirm “if a chain or project aligns, it can propose items under the relevant bucket.”

8. Timeline & Milestones: When Do We Start Seeing Concrete Plans?

Q: The four buckets are big. When do we move from broad topics to line items, KPIs, and deliverables?
A: Through the rest of 2024, the committees collect final suggestions and refine proposed budgets. A consolidated budget “info action” likely goes on-chain in early 2025. Once DS approve the budget, committees will track each funded project. Meanwhile, for ongoing strategic goals, the Product Committee aims to keep updating the community—likely each quarter—on overall progress and needed adjustments.

9. How Does the Product Committee Handle Enterprise Adoption Requests?

Q: Some communities want direct “enterprise roadmaps.” Are you including that in your goals?
A: Absolutely. The “Get More Usage” bucket specifically includes enterprise outreach, developer training, and marketing alignment. If you want to champion a distinct enterprise adoption program, you can propose it under that bucket. The key is: everything must go through the open budget process, then align with the final 2025 budget.

10. How Can People Get Involved Right Now?

Q: I have ideas. I want to help shape the 2025 product direction. What’s next?
A: The best step is to join the open calls that the Product Committee runs. They also maintain an open Miro board, weekly focus groups, and a survey for asynchronous feedback. If your idea fits a specialized domain (like marketing, TSC dev tasks, or community growth), the corresponding committee or working group is your next stop.

Watch the full AMA session here.

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November 16, 2024

Cardano Budget AMA Recap: Where We Stand and What’s Next

On November 16, 2024, the Intersect Cardano Budget Committee hosted yet another open AMA (Ask Me Anything) session, continuing its ongoing series aimed at engaging the community about the first-ever Cardano budget process for 2025. These sessions ensure transparency, gather invaluable feedback, and clarify the myriad details around budget allocations, treasury withdrawals, and committee processes.

Below, we highlight the top 10 questions that arose during this AMA—along with succinct answers from Intersect team members Lawrence, Lloyd, and community participants.

1. Where Does the Budget Process Currently Stand?

Q: We’ve heard that we’re in a “socialization phase.” What does that mean?
A: Right now, each committee (Product, TSC, MCC, etc.) is showcasing its proposed 2025 budget items. The Budget Committee is collecting all these asks, ensuring no duplication, and preparing to present them to the DReps (Delegated Representatives). This “socialization” phase includes multiple AMA calls, knowledge base updates, and community input to refine budget drafts before on-chain voting in early 2025.

2. How Does Intersect Coordinate So Many Proposed Events (e.g., Hackathons)?

Q: Multiple committees want to host hackathons. How do we avoid overlap?
A: While several committees (TSC, MCC, Marketing Working Group) might mention similar events, the Budget Committee works with each to consolidate them. Typically, a lead committee is identified—for example, MCC might coordinate the event funds, TSC might provide the technical guidance—so funding and tasks don’t duplicate.

3. What Exactly Is the MCC’s Role with Grants?

Q: Does the Membership & Community Committee (MCC) approve every single grant, or how does that work?
A: The MCC isn’t rubber-stamping each Catalyst proposal. Instead, it defines broader grant categories and ensures there’s a process (like with Catalyst) to allocate funds appropriately. They manage higher-level approvals and keep track of whether proposals align with the MCC’s mission, but micro-review of every single grant typically falls to specialized bodies (like Catalyst itself).

4. Do We Rely on Catalyst Grants to Fund Core Development?

Q: Is there overlap or dependence on Catalyst for Cardano’s main budget?
A: No. Intersect (via the Budget Committee) handles treasury withdrawal for large-scale development and maintenance. Catalyst remains its own grant-based innovation portal, while the committee funds core tasks—node updates, open source management, etc.—through direct treasury allocations, not Catalyst money.

5. Handling ADA Price Volatility: How Do We Cope if ADA Doubles or Halves Again?

Q: With recent price changes, how does the committee plan to manage price fluctuations?
A: All withdrawals are in ADA, which is then partially converted to fiat (USD, EUR, GBP, etc.) to pay vendors who require fiat. Intersect, via the treasury working group, hedges to avoid sudden drops. If ADA’s price jumps, we don’t necessarily spend more. The impetus remains fulfilling the budgeted tasks at stable fiat costs, not riding the price wave for expansions.

6. Where Does the Cardano Foundation Fit Into All This?

Q: Aren’t they responsible for brand IP and high-level partnerships? How does that differ from Intersect’s budget role?
A: The Cardano Foundation focuses on regulation, standard-setting, brand IP, and broad ecosystem growth. Intersect (via the Budget Committee) ensures that treasury funds get to the right development efforts (through committees like TSC, MCC, etc.). They collaborate to avoid duplication, but Intersect is the “hub” or “intersection” where everyone can propose, align, and fund specific tasks.

7. Who Holds the Treasury Funds Once Withdrawn?

Q: Treasury is on-chain, but which entity controls the ADA after it’s withdrawn?
A: A special entity, often referred to currently as the Cardano Development Foundation (CDF)—but soon to be renamed Cardano Development Holdings (CDH)—is the legal holder of those ADA funds. Intersect “administers” and “monitors” spending. This structure ensures transparency, auditing, and alignment with legal and regulatory requirements.

8. If a Committee Needs Funds Mid-Year for a New Project, How Does That Work?

Q: Once you withdraw from the treasury, is it all locked up, or can committees request more later?
A: The plan is for one annual treasury withdrawal to simplify approval and minimize on-chain votes. That lump sum goes into CDH wallets. Committees then request from that pool throughout the year, via Intersect’s core services team. If something new arises, committees propose an amendment, and if the DReps agree, it can be funded from any leftover or unallocated portion.

9. Paying Community Contributors: Is a Stipend System Coming?

Q: Some volunteer a ton of hours in committees or working groups. Will 2025 cover stipends?
A: Yes. Committees are including “stipend” or “compensation” lines in their 2025 budget asks. Though details must be standardized (like capping if a person is on multiple committees), the consensus is that core contributors should be fairly compensated for hours that directly benefit Cardano.

10. Will There Be Dashboards or Tools for Real-Time Tracking?

Q: After the money is withdrawn, can we see a live on-chain tracker?
A: Intersect is actively evaluating blockchain-based accounting and custody services (like Zodia) to display real-time wallet balances. Moreover, the Budget Committee is designing quarterly transparent reports. Tools are evolving to let the community see spending from the main CDH wallets in near real time, ensuring that each transaction is documented and auditable.

By consolidating these AMA sessions, Intersect and its committees aim to ensure that every community voice can influence and help refine Cardano’s first-ever annual budget. Dive into the resources, attend an upcoming AMA, and make your perspective heard as Cardano forges ahead into a new era of on-chain governance.

Watch the full AMA here.

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November 18, 2024

Cardano Budget AMA Recap: Spotlight on the Product Committee

On November 18, 2024, the Intersect Cardano Budget Committee held one of its ongoing AMA sessions—this time featuring a deep dive into the Product Committee (PC). This committee helps align Cardano’s goals, defines potential focus areas, and ensures the budget process captures the community’s most pressing needs. Below are the top 10 questions the community asked, along with the concise answers provided by Product Committee Secretary Lorenzo and other Intersect representatives.

1. What Exactly Is the Product Committee’s Role?

Q: Who makes up the Product Committee, and how does it fit into Cardano’s budget process?
A: The PC currently has seven voting seats and about 20 contributors. It provides high-level strategic direction for Cardano’s annual goals—like “Get More Usage” or “Governance.” This “why” and “what” perspective complements other committees (e.g., TSC, MCC, Civics), which handle more specialized or technical tasks. Once the community finalizes these annual “goals,” committees can align their budget proposals accordingly.

2. How Were These 2025 Goals Decided?

Q: I see references to “Get More Usage,” “Governance,” “Business as Usual,” and “Vision.” Where did they come from?
A: Over the last two+ months, the PC collected feedback via:

  1. Open calls (three per week initially, now weekly)
  2. Focus groups (DReps, Builders, committees)
  3. Online surveys and Miro boards
    The result is eight goals across four major topics:
  4. Get More Usage – The largest and most urgent bucket
  5. Governance – Supporting Cardano’s new on-chain governance framework
  6. Business as Usual – Maintaining Cardano’s reliability and core features
  7. Vision – Evolving beyond Voltaire with a multi-year, community-driven plan

3. Which Sub-Goals Make Up “Get More Usage”?

Q: Everyone keeps saying “usage.” What does that actually entail?
A: The PC sees one primary goal—“Drive initiatives that bring developers, dApps, and users to Cardano for real-world applications”—plus four supporting goals:

  1. Make Cardano easier to build on.
  2. Ensure Cardano is a viable, competitive option among blockchains.
  3. Clarify how new projects can get funded.
  4. Raise Cardano’s reputation via marketing/public relations.

All four aims reinforce Cardano’s adoption, focusing on removing developer hurdles and improving brand awareness.

4. How Do Product Committee Goals Align With Marketing Efforts?

Q: Isn’t “marketing” a separate working group or sub-committee? Where does the PC fit in?
A: The PC’s role is strategic and directional: it recommends “We need to improve Cardano’s reputation.” The Marketing Working Group (MWG) or other committees then figure out the “how”—like specific campaigns or events. Both the MWG and Product Committee have collaborated heavily on shaping the “raise Cardano’s reputation” sub-goal.

5. Does Charles Hoskinson’s “Cardano 2.0” Vision Factor In?

Q: Charles announced “Cardano 2.0” at a recent summit. How does it mesh with the PC’s goals?
A: Charles’s proposals—like new research items or big ecosystem shifts—naturally fed into the Product Committee’s open consultation. The PC aggregates community input, including IOG’s or Charles’s plans. Ultimately, if Charles’s ideas resonate, they’ll align with an overarching goal (e.g., “Get More Usage” or “Future Vision”) in the final budget proposals.

6. What About Bitcoin OS, AI Partnerships, or Other New Initiatives?

Q: The ecosystem changes fast—like “Bitcoin OS” talk. How do we incorporate that if it’s not in these goals already?
A: The PC is set up for continuous consultation. If a major new idea arises—Bitcoin OS, a new partnership, or a big research pivot—community input can update the goals. The Product Committee doesn’t “lock in” an annual roadmap; it collects feedback year-round and refines objectives to keep pace with emerging developments.

7. How Does the Committee Handle Local Education and Developer Upskilling?

Q: We often talk about “Get More Usage.” But what about nurturing local devs in regions like Sub-Saharan Africa or India?
A: The PC’s “Make Cardano easier to build on” sub-goal includes an open door for local developer training and upskilling programs. The implementation detail—e.g., hosting hackathons, awarding grants for local training—is left to committees with relevant remits (e.g., MCC for local hubs, TSC for hackathon budgets). The core principle is that user-friendly tools and robust training underlie adoption everywhere.

8. Which Budget Phase Are We In Right Now?

Q: I’ve heard talk of “socialization” and “consultation.” Where exactly is the 2025 budget process?
A: The budget process is in the community “socialization” phase for November. Each committee is showing their near-finished or draft goals, seeking feedback. After that:

  1. December – Tighter drafts, refined budget lines, more cross-committee alignment.
  2. January – If the Plutus “Chang” hard fork is in place, committees finalize and submit budget proposals as info actions on-chain for DRep approval.

9. What if Future Data Reveals Different Priorities?

Q: Suppose we discover a big new use case or major flaw mid-year. Are these goals locked in stone?
A: The 2025 goals are living guidelines rather than a strict, unchangeable blueprint. If significant new data surfaces, or the community’s needs shift, the PC can gather fresh feedback and recalibrate the goals. The plan is for the Product Committee and others to do quarterly or half-year check-ins to see if priorities need adjusting.

10. Where Can I Submit Feedback or See Details?

Q: I have strong opinions on these 8 goals. How do I weigh in?
A: Multiple ways:

  1. Join the Weekly Product Committee Calls – Held every Thursday, open invite.
  2. Fill Out Online Surveys – Links found in the PC’s GitBook and knowledge base.
  3. Comment on the Public Miro Boards – Provide goal-by-goal feedback.
  4. Keep an Eye on Cardano Forum – Final proposals will appear for comment before on-chain submission.

Ultimately, the PC serves as a conduit for all community input, so every voice counts.

Final Thoughts

From “Get More Usage” to “Crafting a Long-Term Vision,” the Product Committee has distilled months of community feedback into eight proposed 2025 goals across four key themes. This is far from final—your voice still matters. Drop into weekly calls, fill out the surveys, or hop on Discord. The era of open Cardano governance has begun, and with it comes an invitation for every builder, thinker, and enthusiast to help steer Cardano’s direction for 2025 and beyond.

Watch the full AMA here.

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November 19, 2024

Cardano Budget AMA Recap: Technical Steering Committee (TSC) Spotlight

On November 19, 2024, the Intersect Cardano Budget Committee held its sixth open-session AMA—this time featuring the Technical Steering Committee (TSC). The TSC is responsible for overseeing and guiding Cardano’s core technical development and continuity. Below, we highlight the top 10 questions community members asked and the answers given by TSC members and Intersect representatives.

1. What Exactly Does the TSC Oversee?

Q: Is the TSC responsible for all development under the new Cardano budget, or just part of it?
A: The TSC focuses on core Cardano continuity—everything related to the node, networking, consensus, ledger updates, and technical infrastructure needed to keep Cardano secure and cutting-edge. Work on dApps, individual startups, or more peripheral innovation typically falls outside TSC scope and might be addressed by other committees (e.g., Product, Membership & Community, or Catalyst).

2. How Were the TSC’s 2025 Goals Determined?

Q: I see references to 5 major “goals” for Cardano next year. Where did these come from?
A: The TSC builds on the Product Committee’s established 2025 goals, which include:

  1. Get more usage
  2. Make building easier
  3. Meet dApp needs
  4. Reliable decentralized governance
  5. Maintain/strengthen Cardano’s reliability

Each TSC “project card” ties back to one or more of these overarching Product Committee goals.

3. What is the Core Infrastructure Roadmap (CIR) Process?

Q: I keep hearing about CIR triaging projects. How do I submit a new idea?
A: The Core Infrastructure Roadmap (CIR) working group reviews each technical proposal for its feasibility and alignment with Cardano’s core needs. Projects that pass this “triage” step end up on a backlog. Anyone can submit a project using the CIR link found in the TSC knowledge base. Once vetted, it’s then poised for the community to rank during the TSC’s prioritization.

4. Which Projects Already Made the TSC’s Draft List?

Q: Can we see a draft backlog of TSC-related initiatives?
A: Yes. The TSC has published a 23-project backlog on the Knowledge Base, complete with “project cards” detailing each initiative’s rationale, abstract, potential ROI, and relevant references. Examples include:

  • Leios & Ouroboros improvements
  • Script management for governance
  • Layer-2 expansions like Hydra
  • Core node architecture overhauls

Project owners often provide short videos or documentation. The final decision on which to fund rests with the community’s prioritization feedback, plus TSC’s technical guidance.

5. How Can Vendors or New Devs Bid on These Projects?

Q: If the TSC picks a project, how do we ensure open competition and fresh talent?
A: Nothing is pre-awarded. Each TSC-approved initiative will go to an open tender process via Intersect’s procurement system. Interested vendors or developer groups—whether inside or outside the ecosystem—can submit a bid. The TSC reviews bids for competence, delivery plans, and synergy with Cardano’s open-source ethos. The best-suited consortium or supplier then secures the contract.

6. Will the TSC Reveal Estimated Costs for Each Project?

Q: Sometimes, the exact price tag or FTE (full-time equivalents) helps the community rank priorities. Will that be disclosed?
A: So far, the TSC shares FTE estimates rather than dollar amounts. Exact cost figures can undermine competitive bidding, so the TSC focuses on approximate manpower and complexity. However, they’re open to community feedback on whether more financial detail should appear in project cards. Either way, final contract amounts emerge during the tendering stage.

7. Why Does the TSC Want 30% of Its Budget Uncommitted?

Q: The TSC mentioned leaving ~30% of its annual funds “uncommitted.” What’s the logic?
A: The TSC wants the flexibility to pivot if urgent issues arise mid-year (e.g., new SIPs or unanticipated technical emergencies). By not immediately dedicating 100% of the budget, the community can re-prioritize or green-light new projects as needed. DReps ultimately decide if 30% is the right buffer—or whether that percentage should be higher or lower.

8. How Are Audits & Code Acceptance Handled?

Q: Once a vendor finishes a milestone, who ensures the code meets Cardano’s quality standards?
A: The TSC relies on:

  1. Milestone forms: Developers attest to delivering specific deliverables.
  2. Peer review: Another independent engineer or team verifies the work.
  3. Intersect sign-off: An additional final check ensures broad consensus.

Contracts will also emphasize open-source compliance, letting the wider community eventually inspect and critique the results.

9. What About Conflict of Interest When TSC Members Are Linked to Vendors?

Q: If certain TSC members are employees at major Cardano organizations, how do you avoid favoritism?
A: The TSC is adopting a recusal policy. If a TSC member’s company (or their close associates) competes for a tender, that member must remove themselves from discussions and votes related to that project. The TSC is drafting formal guidelines to ensure fairness and transparency.

10. How Can the Community Influence 2025 TSC Priorities?

Q: Is there a single survey for feedback? Do we have to read every project’s page?
A: The TSC has a multi-question survey, open for roughly two weeks, asking for:

  • Ranking of the 5 overarching Product Committee goals
  • Preferences among the 23 (and counting) project cards
  • Views on the 30% uncommitted budget approach
  • Proposals for missing projects

You can find survey links on the TSC Knowledge Base, along with each project’s “card” so you can make an informed decision. This is the community’s chance to shape Cardano’s technical future before final budgets go on-chain.

Final Thoughts

From uncommitted budget reserves to open tenders and a 23-project backlog, the TSC is charging full steam ahead toward Cardano’s 2025 technical roadmap. Yet they rely on the community’s collective voice to decide which initiatives truly matter, how to handle unforeseen issues, and how to ensure fair vendor selection. If you’re passionate about Cardano’s evolution, now’s the perfect time to review project cards, fill out surveys, and attend AMA sessions. The TSC’s door is open—take your seat at the table and guide Cardano’s core development for 2025 and beyond.

Watch the full AMA here.

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November 21, 2024

Cardano Budget AMA Recap: MCC & OSC Present 2025 Plans

On November 21, 2024, the Cardano Budget Committee at Intersect hosted an open AMA focused on two key committees preparing for Cardano’s first-ever on-chain budget: the Membership & Community Committee (MCC) and the Open Source Committee (OSC). Both committees outlined their high-level ideas for 2025, including proposed budgets, working group initiatives, and how they plan to bolster Cardano adoption and open-source development.

Below, you’ll find the top 10 questions posed by community members during the session, along with condensed answers from MCC and OSC representatives. If you’re keen on deeper dives into budgets, synergy between committees, or how to get involved, read on.

1. What’s the Overall Focus of the MCC for 2025?

Q: What does the Membership & Community Committee aim to achieve next year?
A: Nori (MCC Chair) explained that the MCC is centering on four major goals for 2025:

  1. Outreach & Education: From hackathons to local meetups and workshops, the MCC plans to seed community-driven events that attract both new and existing Cardano members.
  2. Community Grants: Building on Intersect’s 2024 grants, the MCC wants to continue funding projects that align with Cardano’s mission—e.g., developer tooling, local hubs, or strategic marketing experiments.
  3. Marketing Coordination: While there’s a separate Marketing Working Group (MWG), the MCC envisions synergy in planning or funding marketing initiatives that directly enhance Cardano membership.
  4. Membership Value & Community Hubs: The MCC wants to grow Intersect membership—especially enterprise members—and support regional hubs as “frontlines” for adoption.

2. How Can the Community Join or Create Working Groups Under MCC?

Q: I see mention of multiple working groups—marketing, grants, design, community support, etc. How do I get involved or propose a new one?
A: The MCC welcomes direct participation. You can:

  • Run for MCC seats: Five positions will open in April 2025.
  • Join or Form a Working Group: Current ones include marketing, grants, community hubs, etc. Each working group has a dedicated channel in Intersect’s Discord.
  • Create a Special Interest Group (SIG): SIGs need less formality than a working group. Just fill a form, and if approved, you’ll get your own Discord channel to rally others around your topic.

3. What About the Marketing Working Group (MWG) and MCC Overlap?

Q: The MWG recently formed and has big ideas. How does it align with MCC?
A: Nori clarified that the MWG operates under the MCC’s budget umbrella for 2025. The MWG focuses on broad marketing strategies—both for Cardano and, to an extent, Intersect. The MCC sees itself as an umbrella committee that can coordinate, fund, or refine MWG proposals so they fit the overall budget structure.

4. What Events or Hackathons Are the MCC Funding?

Q: Are there specific events or hackathons on the MCC’s 2025 radar?
A: Currently, the MCC’s plan is to reserve a budget for these activities rather than list them all out. Organizers in the community will be invited to submit event proposals via a grants-style process. A dedicated panel (under the MCC’s oversight) will evaluate which hackathons, local meetups, or large-scale gatherings to support.

5. How Will the MCC Coordinate Events with the Marketing Working Group?

Q: If the MWG also plans events, won’t that duplicate MCC’s efforts?
A: Collaboration is key. Both groups have distinct focuses:

  • MCC Events: Typically education-, membership-, or community-building.
  • MWG Events: Marketing-driven, aiming to boost adoption/visibility.

They do plan some overlap and co-sponsoring. However, they’ll meet regularly to avoid duplication and ensure community-led event proposals find the right home in the budget process.

6. What’s the Open Source Committee’s (OSC) Vision for 2025?

Q: The OSC covers a lot of ground—core dev, maintainers, tooling. How do they plan to use their budget?
A: Tex (OSC Secretary) shared the committee’s big-ticket initiatives:

  1. Maintainer Retainer Program – Funding community maintainers for key projects, aiming to decentralize maintenance away from a small group of founding entities.
  2. 24/7 Security Support – A dedicated “level 1/level 2” response team for immediate fixes or urgent chain issues, complementing bigger on-chain governance actions.
  3. Project Support Services – Mentorship and resources for open-source teams building Cardano tooling or infrastructure.
  4. Code Forest Model – Bounties for Cardano or open-source ecosystem tasks, spurring new contributors.
  5. Google Summer of Code–Style Program – A summer coding initiative to onboard new devs to Cardano open-source.

7. How Does the OSC’s 24/7 Security Support Differ from TSC or Gov Tools?

Q: Why not rely on the TSC or other working groups for emergency support?
A: The OSC’s security support focuses on fast-turnaround bug fixes and patches. If a minor chain break or major bug surfaces, this dedicated team can fix it within 24–72 hours. Larger governance-level changes might still go through the TSC, but short-term stability is the OSC’s domain.

8. Is the Marketing Working Group Really Asking for 12% of the Budget?

Q: A big question from the AMA—some folks balked at a rumored 12% request. Is that final?
A: The MWG’s early draft suggested 12% of the overall budget. Within that, a fraction (~15% of the 12%) was operational overhead, with the remainder for community marketing initiatives. However, the MWG stressed this is just a draft. They welcome community scrutiny and plan a revision. A dedicated session with the MCC is forthcoming to refine these numbers.

9. How Will MCC Grants Work Legally? Are There Contracts?

Q: Does MCC just hand out funds, or is there a binding structure?
A: Grants have historically been managed via Intersect’s core services with an RFP-like format. Each approved project signs a contract outlining milestones, deliverables, and dispute resolution. That same approach is likely for 2025, ensuring oversight and legal clarity. The MCC will propose budget allocations and categories but rely on Intersect’s “core services” team for the actual contractual process.

10. Where Does the OSC or MCC Overlap with Other Committees (TSC, Civics, etc.)?

Q: Are these committees silos, or do they interact?
A: They collaborate. The ISC (Intersect Steering Committee) meets regularly, bringing all committee chairs and secretaries together. For instance, MCC stepped back from DRep education because Civics is already handling it. Meanwhile, the OSC coordinates with the TSC around low-level chain issues. Expect continued cross-committee synergy and alignment on bigger Cardano roadmap objectives.

Conclusion

This AMA gave the MCC and OSC an opportunity to lay out their vision for 2025—from community events and local hubs to a “maintainer retainer” for open-source devs. While some questions—like the exact marketing budget percentage or synergy with other committees—remain under discussion, both committees eagerly invite more community feedback. Stay engaged, offer your perspective, and join the committees or working groups that align with your passions. Together, we’re building Cardano’s governance and budget from the ground up—your voice matters!

Watch the full AMA here.

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November 21, 2024 (Late Evening Session)

Cardano Budget AMA Recap: 10 Key Takeaways from the Session

Late evening on November 21, 2024, the Intersect Cardano Budget Committee hosted another open AMA session on Zoom, giving community members a chance to ask questions about the first-ever on-chain Cardano budget. The discussion touched on multiple facets of the budgeting process—ranging from stablecoins and dispute resolution to how the committees’ proposals will be organized. Below are the top 10 questions and answers from the session.

1. Where Does the 2025 Budget Currently Stand?

Q: How has the budget process evolved, and what are the latest developments?
A: Lloyd shared that four committees (Product, TSC, OSC, and Membership & Community) have presented initial materials for their potential budget items. Each committee is refining its proposals in response to community feedback. Next steps include a round of AMAs and the net change limit proposal going on-chain, aligning with the upcoming Plutus (Plomin) hard fork. The final budget info actions will only appear on-chain after thorough review by the community and Delegated Representatives (DReps).

2. How Are Committees and Buckets Related?

Q: Originally, the budget revolved around “buckets.” Now committees are bringing proposals. Which approach is correct?
A: Both. This year, committees (e.g., Technical Steering, Open Source, etc.) are mapping their proposals into the existing budget buckets (like Core, Research, Innovation, Governance, and Outreach). In future cycles, once the overall process is more mature, committees and any other organizations (e.g., MBOs, project teams) will align clearly under these buckets—or propose entirely new buckets—before going for DRep approval.

3. How Do We Find All Committee Proposals in One Place?

Q: It’s challenging to track each committee’s knowledge base or GitBook. Is there a centralized hub?
A: The Budget Committee Knowledge Base hosts a consolidated portal listing each committee’s budget ask. Some committees have already posted their line items, and the others will follow. Once complete, everything will be publicly visible and regularly updated, so everyone can view proposals without hunting through multiple sources.

4. What If a Group Wants an Alternative Proposal to the Committees’?

Q: The committees have existing plans. But what if a team wants a different project or new line item included?
A: Lloyd advised that the easiest route this year is to find the closest-aligned committee and submit to them. If the proposal truly doesn’t fit any existing committee or bucket, the Budget Committee will work to accommodate it. Ultimately, for 2025, everything should land within the existing buckets. Next year, new or stand-alone proposals will be more straightforward to propose via the regular bucket-allocation cycle.

5. Why Might Committees Request All Funds at Once?

Q: Some fear that large ADA withdrawals up front could be risky. Is staggering the withdrawals possible?
A: Many committees foresee signing multi-month contracts that require guaranteed funding from day one—vendors need assurance the money is on hand. While a single withdrawal is simplest, partial withdrawals or quarterly releases are also possible. However, each approach has trade-offs in terms of timely vendor payments and potential financial cliff risks. Ultimately, the DReps decide whether to allow one lump sum or multiple staggered treasury withdrawals.

6. Any Plans to Use Stablecoins to Reduce Volatility?

Q: If vendors mostly accept fiat, and ADA’s price is volatile, can we convert to stablecoins on-chain?
A: Absolutely. A key administrative goal is to minimize sell pressure on ADA. Converting portions of the treasury to stablecoins (e.g., USDA, other Cardano-native stablecoins) allows on-chain liquidity while providing price stability for vendor payments. The constraint is ensuring sufficient market liquidity and robust treasury management strategy. Over-the-counter (OTC) deals are also planned for fiat conversions when necessary.

7. How Will the Budget Documents Be Translated for a Global Community?

Q: Cardano is global. Are translation efforts underway for these budget proposals?
A: Yes. An informal translator network (largely Intersect ambassadors and community volunteers) has already stepped up—ready to produce Spanish, Portuguese, Japanese, and other language versions of key budget documents once they’re finalized. Community AMA sessions in local languages are also in progress to ensure widespread accessibility.

8. What Happens if the New Constitution Doesn’t Pass?

Q: The upcoming Constitutional Convention might yield multiple drafts or no final agreement. Could that stall the budget?
A: Even if the new Constitution fails to pass, Cardano has an Interim Constitution that the Interim Constitutional Committee can still use to approve the 2025 budget and treasury withdrawals. That said, the preferred path remains adopting a final Constitution via DRep approval, then implementing an on-chain budget in line with the updated governance framework.

9. How Will Dispute Resolution Work for Budgeted Projects?

Q: Large contracts can fail or face disagreements. Does the budget process address dispute resolution?
A: Yes. The budget proposals (and the constitution draft going to the convention) specify signed contracts with mandatory dispute-resolution clauses. Each RFP or vendor contract will include a venue (often an arbitration service) to handle conflicts. Over time, Cardano may build out more formal or specialized on-chain arbitration processes, but initially, standard legal or commercial arbitration will be the fallback.

10. Post-Approval: How Does the Actual Tendering and Payment Flow Happen?

Q: After the DReps vote, how do we go from “approved budget” to real vendor payments?
A: Post-approval, committees initiate an open tender process for each piece of work, receiving bids from vendors. Once winners are chosen, contracts are signed (specifying payment milestones and dispute resolution). Intersect’s treasury team then sells or converts enough ADA to fiat or stablecoins to pay each vendor as they hit milestones. Progress is reviewed monthly (via financial and technical reporting) and quarterly in more in-depth community updates.

Final Thoughts

From stablecoin strategies and partial withdrawals to dispute resolution clauses and the possibility of no final Constitution, the late evening November 21 AMA underscored the complexity of Cardano’s first on-chain budget. Even as the Constitutional Convention looms, the Budget Committee and participating committees continue refining line items, translating documents, and engaging the community. It’s a landmark process—one that thrives on your feedback and collective intelligence. So read up, join AMAs, and help shape Cardano’s financial future.

Watch the full AMA here.

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November 27, 2024

Cardano Civics Committee AMA Recap: Top 10 Questions & Answers

On November 27, 2024, the Cardano Civics Committee (part of Intersect) hosted a live AMA (Ask Me Anything) session to discuss its 2025 plans for stewarding Cardano’s new era of on-chain governance. Joining were Civics Committee members Nico, Adam, and JosĂ©, who covered topics ranging from supporting delegates (dReps), SPOs, and Ada holders, to stewarding the Constitution and the overall governance process. Below are the top 10 community questions and the team’s answers.

1. How Did the Cardano Civics Committee Originally Form and What Is Its Purpose?

Question: Can you explain how the Civics Committee came about and why it exists?

Answer (Adam):
We began about a year ago, informally coordinating on governance issues (e.g., CIP-1694). After months of open calls and community workshops, we officially formed as a committee under Intersect. Our core mission is to ensure Cardano’s governance remains accessible, fair, and transparent. We do that by supporting governance roles (dReps, SPOs, Constitutional Committee, Ada holders) and facilitating the creation and improvement of governance processes.

2. What Are the Three Pillars for 2025?

Question: You mentioned three pillars for 2025. Can you outline them?

Answer (Nico):
We’ve grouped our 2025 initiatives into three main pillars:

  1. Support Governance Participants: Provide resources and education for dReps, the Constitutional Committee, SPOs, and Ada holders—helping them all engage more effectively in governance.
  2. Steward the Governance Process: Assist with the Constitutional ratification events, transition to the new Constitutional Committee, and ensure that governance tooling (e.g., voting interfaces) keeps evolving.
  3. Facilitate Governance Improvements: Research, measure, and propose updates to ensure Cardano governance remains resilient and forward-looking, including how to handle compensation models for key roles.

3. How Do You Plan to Support dReps, SPOs, and Ada Holders Specifically?

Question: Each group has different needs. What does “support” look like in practice?

Answer (José):
We aim to offer or enable:

  • Training & Tooling: Basic “how-to” guides, plus advanced scripts for SPOs.
  • Onboarding: Step-by-step instructions for prospective dReps, so they can become effective representatives.
  • Outreach & Awareness: Encouraging more Ada holders to delegate their vote to an active dRep or vote directly.
  • Language Accessibility: Ensuring resources are available in multiple languages and remain user-friendly.

We don’t want to dictate how they must engage. Instead, we’re facilitators, helping each role find what they need to participate fully.

4. Is the Civics Committee Also a ‘Gatekeeper’ for New Tools?

Question: If the community builds a governance tool (like mad Orchestra’s prototype), does it need Civics’ approval?

Answer (José):
We’re not gatekeepers. We welcome community-driven innovations—anything that makes on-chain governance better. The Civics Committee can help in areas like signal-boosting useful tools, awarding grants for further development (if budgeted), or connecting devs to the right committees for technical reviews. But we don’t “approve or reject” new tools. We’re a hub for resources and visibility, not a gate.

5. How Will the Civics Committee Collaborate with MCC (Membership & Community)?

Question (Nori, MCC): Our committee also handles education, meetups, and local hubs. How can we work together in 2025?

Answer (José & Lloyd, Budget Committee):
It’s essential to avoid duplication and foster synergy among committees. For instance, MCC might organize local meetups and community hubs, while Civics focuses on governance training or Constitution Q&A. We’ll coordinate through Intersect’s Steering Committee to ensure we have common goals, share resources, and avoid paying twice for the same initiative. Collaboration might include:

  • Joint quarterly review events, co-organized by MCC & Civics.
  • Shared educational content, combining MCC’s community outreach and Civics’ governance expertise.
  • Grant processes that properly route governance tooling requests to Civics and broader educational or marketing requests to MCC.

6. How Do You Envision Stewarding the New Cardano Constitution?

Question: Once CIP-1694 and the new Constitution come online, what’s next?

Answer (Nico):
Our role is to guide transitions:

  • Ratification Event: Help communicate the final steps and threshold requirements for adopting the Constitution.
  • Committee Transitions: Move from the Interim Constitutional Committee to the newly elected one, advising on security, legal incorporation, or process frameworks.
  • Governance Tooling: Oversee tooling updates for on-chain proposals, ensuring they remain stable and user-friendly.

We don’t create policy ourselves; we coordinate to ensure the new governance processes run smoothly.

7. Will dReps and Constitutional Committee Members Be Compensated?

Question: There’s a debate on paying these governance actors. Where does the Civics Committee stand?

Answer (José & Nico):
Compensation is a key question for 2025. We’re hearing widespread support for some level of direct or indirect reward. However, the Civics Committee won’t unilaterally decide. Instead, we’ll:

  1. Provide a forum for proposals and research (including studies on how best to incentivize dReps).
  2. Facilitate community discussions to weigh trade-offs (e.g., paying for votes vs. quality of participation).
  3. Propose formal processes so the community and dReps can vote on feasible compensation models.

8. How Does Civics Ensure Collaboration Across Cardano Foundation, IOG, Emergo, and Others?

Question (Ken, Community): There are multiple founding entities—how do you get them all to coordinate?

Answer (Adam):
Intersect literally intersects major Cardano stakeholders, including Cardano Foundation staff (like Nico) and IOG (like Joel, Danielle, etc.). Emergo also has representation on Intersect’s Board of Directors. That fosters direct lines of communication and ensures synergy. Essentially, Civics is a neutral “meeting place” where each entity can weigh in on governance, share tools or ideas, and unify behind Cardano’s best interests.

9. How Will the Community Measure If Cardano’s Governance Is Improving?

Question: You mentioned a potential “Annual Governance Report.” How will that work?

Answer (José):
We propose creating a State of Cardano Governance annual report. The idea is to:

  • Gather metrics (e.g., how many dReps voted, how many proposals, how many SPOs engaged).
  • Collect feedback from all governance roles on processes, pain points, and best practices.
  • Highlight crucial trends and areas for improvement (e.g., if 80% of dReps never vote, that’s a red flag).

Such transparency helps refine future budgets and priorities.

10. How Do I Get Involved with the Civics Committee?

Question: I’m excited about governance. Where do I start?

Answer (Adam & José):

  • Join Intersect: Gain access to working groups, meeting schedules, and talk directly with us on Discord.
  • Attend AMAs & Workshops: We host them regularly to gather feedback and help new contributors.
  • Propose Solutions: If you see gaps—maybe a language barrier or a missing tutorial—bring it up! Civics can help direct your idea or connect you with potential grants or working groups.

Above all, we urge you to register your stake for governance, explore becoming a dRep, or at least delegate to someone who’s actively participating.

Final Thoughts

As the new Constitution approaches, the Cardano Civics Committee stands ready to assist the ecosystem in making on-chain governance robust and inclusive. Whether it’s supporting dReps, orchestrating the Constitutional Committee transition, or amplifying community-built tools, the committee invites your input and collaboration.

“The more people engage in governance, the better. Step forward, come closer, and join us in shaping Cardano for the long term.”—JosĂ©, Civics Committee

Thank You to everyone who attended or watched this AMA. It’s your voices and ideas that make decentralized governance a reality. Let’s continue building Cardano’s governance together—one community-driven step at a time.

Watch the full AMA here.

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December 17, 2024

Cardano Budget Committee AMA Recap: Top 10 Questions & Answers

On December 17, 2024, the Cardano community gathered via Zoom for another open AMA (Ask Me Anything) session, hosted by the Intersect Cardano Budget Committee. This time, the spotlight was on the Technical Steering Committee (TSC), represented by Chair Kevin Hammond, members Matt Davis and Marcus G., and joined by members of the Budget Committee and broader community.

The TSC provided updates on Cardano’s core infrastructure roadmaps, insights into how technical projects might be funded in 2025, and how community participation will shape priorities. Below are the top 10 questions that arose during this AMA, along with the answers shared by TSC members and meeting participants.

1. What Is the Role of the Technical Steering Committee in the 2025 Budget?

Question: Can you clarify the TSC’s scope and how it ties in with the overall Cardano budget?

Answer (Kevin Hammond, TSC Chair):
The TSC focuses on Cardano’s core technical roadmap—ensuring critical infrastructure (such as the ledger, consensus, and networking) remains stable, secure, and continually improved. We don’t finalize each line item of the budget ourselves; rather, we evaluate and prioritize technical proposals, then recommend which projects should receive development funding. This collaboration involves working with other committees—like Product and Open-Source—to deliver the most impactful outcomes for the ecosystem.

2. How Does the TSC Balance Top-Down vs. Bottom-Up Proposals?

Question (Georgio, Community Member): Will the TSC create a strict list of projects and budgets, or is there flexibility for community-submitted ideas?

Answer (Kevin Hammond):
We start with key ecosystem goals—like scalability, better tooling, and improved developer experience—but remain open to bottom-up contributions. If you see an unmet need or want to propose an idea, you can share it. The TSC will evaluate, refine, and, when feasible, recommend that it be funded. Nothing is set in stone; we want an ongoing pipeline where new ideas enter, get vetted, and possibly receive support.

3. What Is the ‘Uncommitted Budget,’ and Why Is It Important?

Question: The presentation mentioned reserving some of the budget for unexpected issues. How does that work?

Answer (Kevin Hammond):
Rather than allocate 100% of the funds immediately, the TSC suggests setting aside ~30% as an “uncommitted budget.” In any large technical roadmap, unforeseen challenges can arise—be it security patches, new standards, or urgent ecosystem demands. Having a flexible pool enables quick reallocation to address high-priority items without derailing other initiatives.

4. How Will the TSC Handle Pre-Treasury Funding for Q1–Q2 2025?

Question (Lawrence, Budget Committee Member): If the new treasury system isn’t unlocked or fully approved early in the year, how do we keep the lights on?

Answer (Kevin Hammond):
We anticipate a short bridge period during which we rely on temporary funding sources (e.g., existing grants, philanthropic contributions) to cover critical maintenance. Meanwhile, the TSC will prioritize essential tasks such as ledger security and network stability. Once the community ratifies the budget and the treasury opens, we’ll transition to treasury funds for ongoing initiatives.

5. Which Technical Projects Are Top Priorities for 2025?

Question: Can you list some key infrastructure items the TSC is focusing on?

Answer (Kevin Hammond):
Projects likely to rank highly include:

  • Ouroboros Laced Updates (e.g., Leios, Paras): Enhancing throughput and finality.
  • Hydra & Mithril: Layer 2 solutions for better scaling.
  • Babble Fees & Transaction Pricing: Exploring alternative fee mechanisms.
  • Log-Structured Merge Trees (LSMT): Improving long-term node performance and sustainability.
  • Core Maintenance & Security: Keeping Cardano stable and resilient is non-negotiable.

6. How Do You Ensure Community Involvement in Setting Technical Priorities?

Question: Many participants want a say. How do we join or influence TSC decisions?

Answer (Matt Davis, TSC):
We strongly encourage the community to:

  • Submit proposals or “problem statements” via the Intersect Knowledge Base.
  • Attend open calls and survey feedback sessions.
  • Join relevant working groups to help refine or evaluate incoming proposals.

The TSC collects and synthesizes this input for transparent, data-driven prioritization.

7. What About Emerging Technologies Like Quantum Computing or Bitcoin Integration?

Question (Juan, Product Committee Member): Should Cardano prepare for quantum threats or integrate with Bitcoin?

Answer (Kevin Hammond):
We’re aware that quantum computing could, in time, affect cryptographic security. Research teams have touched on quantum resistance, and the TSC will factor it into future risk assessments. Likewise, Bitcoin interoperability (e.g., “Bitcoin-O” mention) can bring new transaction volume, but we’d assess feasibility and ROI carefully before committing resources.

8. Why Aren’t More People Attending These AMAs, and How Can We Improve Engagement?

Question (Georgio): The turnout seems low. How do we better publicize these meetings?

Answer (Joy, Meeting Host):
We share announcements via multiple channels (Cardano Forum, official calendars, social media), but we agree we can always do more. We welcome community help in amplifying announcements. In 2025, we’ll also explore scheduling workshops alongside major events (e.g., Rare Evo) to gather more in-person input. For now, you can find the Cardano Budget AMA Calendar linked below to stay updated.

9. How Does the TSC Coordinate with Product and Open-Source Committees?

Question: Technical improvements often rely on user or product feedback. How do these committees stay aligned?

Answer (Kevin Hammond):
We have regular cross-committee sessions. For instance, the Product Committee is actively defining user-oriented goals (like improved developer experience, new dApp tooling). We integrate their findings into TSC roadmaps. The Open-Source Committee similarly guides best practices for open collaboration. Think of it as a multi-pronged approach—different committees focusing on different areas, but constantly syncing.

10. What Is the Best Way to Keep Up with All the Proposals and Roadmap Progress?

Question: There’s so much information. Where’s the single source of truth?

Answer (Matt Davis):
The Intersect Knowledge Base is our repository for all official documents—project proposals, presentation slides, and guidance on how to submit your own. We’ll continue to update it, so bookmark it. For real-time dialogue, join the Budget Committee Discord. If something’s missing, let us know—we want it to be comprehensive and transparent.

Thank you to everyone who attended this AMA, asked questions, and helped guide the future of Cardano’s technical roadmap. As Kevin Hammond put it, the TSC is “open for business” and looks forward to channeling your enthusiasm into meaningful developments. Let’s continue building the world’s most robust, scalable, and innovative blockchain—together.

Watch the full AMA here.

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December 18, 2024

Cardano Budget Committee AMA Recap: Top 10 Questions & Answers

On December 18, 2024, members of the Cardano community gathered via Zoom for another Open Budget AMA, hosted by the Intersect Cardano Budget Committee. This session featured two committees:

  1. Open Source Committee (OSC), represented by Tex (Secretary), Adam, and Lucas.
  2. Membership & Community Committee (MCC), represented by Nori.

They discussed their respective 2025 budget proposals and their roles in fostering developer engagement, community growth, and decentralized collaboration. Below, we highlight the top 10 questions from the AMA—and the answers shared.

1. How Will Funds Flow to Open-Source Maintainers and Contributors?

Question: One attendee asked if OSC is building an on-chain tool to automate payouts and manage bounties.

Answer (Tex & Lloyd, Budget Committee):
While Intersect’s Core Services currently handle legal and financial approvals (multisig sign-offs for payments), the OSC envisions leveraging partner tooling in the future (e.g., Andamio) to streamline tasks like matching, escrow, and automated payouts. The immediate focus is ensuring no funds are misappropriated, so every request must be approved by the relevant committee plus Intersect’s core team via a carefully controlled process.

2. What Is the Process for Becoming a ‘Maintainer’ Under the OSC Retainer Program?

Question (Jordan, Community Member): Curious how developers climb the ladder to open-source maintainership.

Answer (Tex, OSC Secretary):
A new Contribution Ladder outlines four ascending “levels,” from new contributors up to maintainer status. The plan is to identify promising contributors (through their commits, knowledge of Haskell, etc.) and formally bring them on board via a mid-level compensation. Once a developer demonstrates consistent, high-quality work in a specific repository, they’ll enter the Maintainer Retainer Program, collaborating with existing maintainers (including IOG or CF staff) to ensure continuity and oversight.

3. Will the ‘Summer of Code’ and Developer Programs Emphasize Global Participation?

Question (Mercy, Community Member): How do we ensure broad, global inclusion, especially in regions like Africa and India?

Answer (Tex & Adam, OSC):
The Summer of Code initiative and Developer Advocates program are designed to reach students and early-career developers around the world. The OSC already has developer advocates on multiple continents, including Africa, India, and North America. The committee aims to further expand its geographic reach in 2025, creating a more diverse, globally distributed talent pipeline.

4. Are the Committees Documenting Their Processes and Hand-Offs?

Question (Pete, Community Member): With Intersect growing more complex, how do we keep track of processes across committees?

Answer (Tex, OSC Secretary & Lloyd):
Each committee is continuously evolving its internal processes—some, like OSC, have robust documentation publicly available. Others are refining their methods as new needs arise. While a universal “business process mapping” is ideal, the committees are still finalizing many processes. Once those are stable (version 1.0), they will be documented in the Budget Committee Knowledge Base for easier cross-committee coordination and public reference.

5. What Does 24/7 Maintenance & Security Support for Core Cardano Mean?

Question: The OSC budget references a support team providing Level 1 & 2 assistance. How will that work?

Answer (Tex, OSC Secretary):
This security and maintenance team acts as first responders for critical issues in Cardano’s open-source repositories (e.g., the node, ledger, dev tools). For more complex “Level 3” problems, the team will escalate issues to the Technical Steering Committee or specialized Security Council. The target is to respond to high-priority incidents quickly—within 72 hours.

6. How Will the MCC Avoid Overlap with the OSC or TSC on Technical Funding?

Question (Adam, OSC Member): With MCC also planning grants—some presumably technical—do we risk duplication?

Answer (Nori, MCC):
The MCC’s “developer grants” portion largely addresses entry-level developer tooling or community-driven educational projects, whereas the OSC and TSC focus on deeper protocol or repository-level improvements. Committees are increasingly cross-communicating to prevent duplication. Intersection (pun intended) is inevitable, but each committee will serve as the primary approver within its domain.

7. Will We Have One Big Budget Proposal or Multiple Separate Ones?

Question: Previously, the idea was a single “omnibus” budget. Now it seems each committee might propose separately. Where do we stand?

Answer (Lloyd, Budget Committee):
The committees initially aimed for a single, consolidated budget, but community input favored more granular proposals (so a “No” vote could be restricted to specific budgets). That said, each on-chain treasury action requires time and fees, so the Budget Committee is exploring fewer, well-bundled proposals rather than 10+ separate ones. Discussions continue on striking a balance between clarity and cost.

8. MCC Plans to Take ~10% from Catalyst—How Does That Work?

Question: The MCC mentions funneling some Catalyst budget into Intersect’s community grants. Isn’t Catalyst separate?

Answer (Nori, MCC):
Catalyst’s upcoming budget proposal includes a request of 75 million ADA. The MCC expects around 10% of that to flow into broader developer grants for ecosystem tools. Those numbers remain provisional until Catalyst finalizes its budget. The committees and community will ensure RFP-based allocations so it’s not automatic or vendor-locked.

9. Clarifying the “Net Change Limit” on the Treasury: Isn’t It Inflows Minus Outflows?

Question: There’s confusion about the net change limit. Does 350 million ADA mean total spent, or net over a certain period?

Answer (Lloyd, Budget Committee):
As codified in CIP-1694’s guard rails, the net change limit caps how much total can be withdrawn from the treasury within a specific period—in this case, January 1 to December 31, 2025. It doesn’t reference inflows from block rewards. The Budget Committee’s goal is to ensure no more than 350 million ADA is withdrawn in 2025. The exact definitions are still being refined to avoid confusion about net inflows vs. net outflows.

10. Where Can We Find the Presentation Slides and More Information?

Question: Will you publish these slide decks and references?

Answer (Nori, MCC & Tex, OSC):
Yes. Slides from each committee’s budget presentation will be available in the Budget Committee Knowledge Base and on GitHub or GitBook, where relevant. Anyone seeking deeper detail can also explore the relevant committee categories on the Intersect Discord.

Next Steps & How to Get Involved

As the 2025 budget proposals move forward, committees are finalizing both top-level goals (how much to spend on each category) and the process (how requests for proposals, or RFPs, will be handled). Keep an eye on:

  • OSC for open-source governance, contributor programs, and 24/7 security support.
  • MCC for grants, local community hubs, marketing, and more inclusive education programs.

Community feedback remains critical. From posting suggestions on the Cardano Forum to joining a working group, your voice helps shape this historic budget process.

Thank You to everyone who attended, asked thoughtful questions, and offered feedback. Decentralized governance is forged through these open dialogues. With each AMA, Cardano’s first-ever community-led budget draws closer to fruition. Keep sharing your insights—together, we’re building the future of Cardano.

Watch the full AMA here.

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December 19, 2024

Cardano Budget Committee AMA Recap: Top 10 Questions & Answers

On December 19, 2024, the Cardano community gathered via Zoom for a live AMA (Ask Me Anything) session organized by the Intersect Cardano Budget Committee. In attendance were representatives from the Product Committee and the Civics Committee, who presented updates on their respective budget proposals for 2025 and answered community questions. This article highlights the most pressing discussions, focusing on the top 10 questions asked by community members and the insights provided by committee leaders.

1. What is Ouroboros Omega and How Does It Fit Into Cardano’s Research Plans?

Question: A community member asked for more detail on Ouroboros Omega, curious about how broad the research scope is and how it aims to advance Cardano.

Answer (Sam, Product Committee Chair):
Ouroboros Omega research encompasses next-generation consensus mechanisms to keep Cardano at the forefront of blockchain technology. It includes:

  • Multi-resource consensus: Allowing multiple consensus mechanisms (e.g., proof of stake plus proof of useful work) to combine into a single leadership schedule.
  • Proof of useful work: Turning what would otherwise be “wasted” computation (traditional proof-of-work hashing) into useful tasks, potentially in AI or other high-value computations.
  • Congestion control and throughput: Improving block production efficiency and ensuring fair, predictable resource usage.

Sam also noted that research doesn’t always lead to immediate protocol changes. Academic exploration sometimes uncovers why certain features are unfeasible, thus protecting the network from costly missteps.

2. Why Wait to Research ‘Democracy 4.0’?

Question: Another attendee questioned the timeline for researching Democracy 4.0—the future of on-chain governance—and asked why it isn’t happening immediately.

Answer (Sam, Product Committee Chair):
Democracy 4.0 is about next-level governance protocols, advanced incentive structures, and shaping how on-chain decision-making evolves. However, the committees want at least six to nine months of real-world data on newly launched governance features (e.g., dReps, the Constitutional Committee) before investing heavily in research. That empirical experience will help target specific improvements rather than hypothesizing solutions in a vacuum.

3. When Will Reward Mechanisms for Delegated Representatives (dReps) Be Addressed?

Question: A participant asked how and where the revamping of dRep rewards fits into the overall 2025 budget plan.

Answer (Sam, Product Committee Chair):
The immediate priority is to observe how existing governance structures work—particularly how dReps actually engage—before allocating budget to reward mechanisms. By collecting operational data first, the community can tailor an incentive model that encourages meaningful participation rather than guesswork.

4. What Is the Civics Committee’s Role in Supporting the Constitutional Committee?

Question: One attendee wanted clarity on the Civics Committee’s responsibilities in helping the newly established Constitutional Committee (CC).

Answer (Aein, Civics Committee Member):
The Civics Committee supports the CC through:

  • Administrative assistance: Ensuring secure hardware key management, secretarial and technical support, and legal consultancies.
  • Remuneration considerations: Setting aside a budget for potential CC compensation to attract and retain highly qualified members.
  • Election processes: Building and maintaining election tooling for future CC rotations.

The focus is on ensuring that the CC has all the resources and frameworks needed to ratify governance actions securely and transparently.

5. How Will You Improve SPO (Stake Pool Operator) Participation in Governance?

Question: With only a small percentage of SPOs voting in preliminary info actions, the community asked how the committees plan to boost SPO turnout in on-chain governance.

Answer (Aein, Civics Committee Member):
The Civics Committee identified SPOs as an often-overlooked but critical segment. Key improvements include:

  • User-friendly tools: Integrations into well-known SPO toolkits (e.g., CNTools, gLiveView) that simplify governance voting.
  • Targeted training: Workshops and multilingual tutorials on how to vote and script governance actions.
  • Ongoing education: Showcasing the real impact of SPO votes on network decisions to drive higher engagement.

6. How Can We Incorporate AI Agents to Assist the Constitutional Committee?

Question: One participant proposed using AI to scan governance actions for constitutional conflicts and streamline the CC’s workload.

Answer (Aein, Civics Committee Member):
AI-powered assistance can help parse large volumes of data for potential red flags or conflicts with the Constitution, especially as governance actions increase. However, the committees caution that relying on a single AI source could introduce risk if it provides flawed recommendations. The solution may involve multiple, independent AI checks to ensure diverse perspectives and maintain system resilience.

7. Will Cardano Governance Eventually Help Real-World Government Elections?

Question: A community member asked whether Democracy 4.0 or the broader Civics initiative will branch into non-blockchain government systems.

Answer (Sam, Product Committee Chair):
While Cardano’s research often extends to how blockchain can empower real-world governance (e.g., secure ID, tamper-proof voting), the immediate Democracy 4.0 scope is about on-chain governance improvements. That said, nothing prevents synergy with real-world systems down the line. The committees remain open to proposals that test or deploy blockchain-based solutions for external government use cases.

8. How Are Intersect’s Internal Governance and the Civics Committee Related?

Question: Someone inquired who manages Intersect’s own governance structure, wondering if the Civics Committee handles it.

Answer (Joy, Meeting Host & Budget Committee Member):
Intersect’s internal governance is overseen by the Intersect Steering Committee—not the Civics Committee. The Civics Committee focuses externally on Cardano’s on-chain governance, while the Steering Committee (comprised partly of committee chairs) addresses Intersect’s internal processes.

9. What Happens if the Constitution Fails to Pass?

Question: A pressing query concerned the potential ramifications if the new Cardano Constitution does not achieve the required approval threshold.

Answer (Joy, Meeting Host & Budget Committee Member):
If the Constitution fails, the community would need to revisit the draft, integrate feedback from the dissenting dReps, and propose a revised version. However, this creates a funding risk—Intersect’s operational budget and broader project funding rely on opening the Cardano Treasury under the new constitutional framework. Without passage, those funds remain locked, leading to potential slowdowns in development.

10. Where Are the Biggest Gaps in Cardano’s Governance User Experience (UX)?

Question: Looking ahead, a user asked what tools or improvements are most urgently needed to streamline governance for everyone, from Ada holders to SPOs.

Answer (Nicholas & Aein, Civics Committee Members):

  • Wallet integration: Embedding governance features directly in popular wallets to minimize friction for voters.
  • Language accessibility: Translating interfaces and materials for non-English speakers.
  • SPO & dRep dashboards: Offering quick, intuitive ways to see what’s up for a vote and cast a ballot without advanced scripting.
  • Ongoing Education Campaigns: Just like the push to “Move your funds off exchanges and delegate to an SPO,” the community needs calls-to-action to “Delegate your vote to a dRep” or “Cast your governance ballot.”

Ultimately, improved UX and consistent outreach will be pivotal in maintaining an active, well-informed governance ecosystem.

The Road Ahead

As Cardano transitions into its community-led future, active participation remains paramount. Whether you are an SPO, dRep, Ada holder, or simply an enthusiastic observer, your feedback and voice are critical to shaping the 2025 budget and ensuring the long-term sustainability of Cardano’s governance model.

Stay engaged—join an upcoming AMA, explore the resources above, and let’s continue building a transparent, inclusive, and resilient Cardano together.

Watch the full AMA here.

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January 8, 2025

Cardano Budget AMA Recap: Top 10 Insights

On January 8, 2025, members of the Intersect Cardano Budget Committee held their second budget-focused AMA of the new year. This open session gave community members a chance to ask questions, provide feedback, and learn more about Cardano’s first-ever on-chain budget process. Below, we’ve compiled the top 10 questions and answers from the discussion, offering a concise look at key takeaways.

1. What Is the Net Change Limit (NCL), and Why 350 Million ADA?

Q: The Budget Committee mentioned a proposed net change limit of 350 million ADA for 2025. How was this figure chosen and what does it mean?
A: The net change limit represents a maximum cap on how much ADA can be withdrawn from the Treasury in a single calendar year (January 1 to December 31). According to treasury experts at CF, IO, EMURGO, and others, 350 million ADA aligns roughly with Cardano’s yearly replenishment rate—meaning it should preserve Treasury principal over time if not fully spent. Essentially, this figure is an upper limit; the community can still vote to spend less than that amount.

2. Are We Expected to Spend the Entire 350 Million ADA?

Q: Does approving a 350 million ADA net change limit mean we’ll automatically spend it all?
A: Not at all. The Budget Committee stressed that 350 million ADA is a ceiling, not a target. Ideally, spending will remain well below this threshold, leaving room for emergency budgets or unforeseen opportunities. Approving the cap simply prevents any group from exceeding 350 million ADA without a separate, six-week governance process to raise it further.

3. What Are the Five Budget Buckets?

Q: The AMA referenced five buckets under Intersect’s proposed 2025 budget. What are they?
A: To give the community more granular control, Intersect is preparing five separate budget proposals—often referred to as “buckets”:

  1. Core Research
  2. Innovation
  3. Outreach
  4. Governance
  5. (Technical) Core Operations

Each will be presented as its own Info Action on-chain, allowing DReps (Delegated Representatives) to vote for or against each budget independently.

4. How Will These Budgets Be Approved and Funded?

Q: Once the buckets are proposed, what steps must happen for them to receive Treasury funds?
A: The process has two layers:

  1. Info Actions: A community vote to approve each budget’s scope and rationale.
  2. Treasury Withdrawals: Once a budget Info Action has passed, an on-chain withdrawal proposal will be submitted for DRep approval to pull actual ADA from the Treasury in line with that budget.

5. How Do Committees and Working Groups Fit Into the Buckets?

Q: Multiple committees (e.g., Technical Steering Committee, Open Source Committee) exist. How do they decide who gets funds, and how can builders get involved?
A: Each committee manages deliverables and vendor selection for its respective budget. For instance:

  • The Technical Steering Committee (TSC) oversees core tech deliverables (e.g., Lace, sidechains).
  • The Open Source Committee (OSC) looks after community tooling, open-source projects, and maintainers.

Interested builders should reach out directly to the relevant committee (via Intersect Discord, open calls, or AMA sessions). An RFP (Request for Proposals) process is also in development, aiming to make vendor selection transparent and fair.

6. What About Existing Ecosystem Tooling and Maintenance Needs?

Q: Some community members have already created essential Cardano tooling. How can they seek Treasury support for ongoing maintenance?
A: The Budget Committee acknowledged they initially missed a dedicated “tooling bucket.” However, new efforts are underway to form a Tooling Working Group. This group will:

  1. Identify critical infrastructure projects (e.g., block explorers, APIs).
  2. Triangulate maintenance needs and coordinate funding.
  3. Ensure DReps and the community see a clear path to support crucial ecosystem tools.

7. What If My Project or Idea Doesn’t Fit in These Buckets?

Q: Not everything clearly falls under “core,” “innovation,” or “outreach.” For example, municipal or government-focused pilots. Where do they go?
A: Some initiatives—like government/municipal adoption—may not currently fall under any Intersect-managed bucket. In these cases, the Constitution allows any community member or entity to propose a standalone on-chain budget with its own Info Action. Additionally, there is a path for forming new working groups inside Intersect if there’s enough community alignment (e.g., a “Government Adoption Committee”).

8. How Does This Tie In with the New Constitution and the Plutus (Plum) Hard Fork?

Q: Are there dependencies on Cardano’s governance updates and the upcoming hard fork?
A: Yes. Info Actions and Treasury Withdrawals both rely on the governance rules set by the new Cardano Constitution and the functionality activated via the Plutus (Plum) Hard Fork. If certain governance elements are delayed, it may slow or modify how budget votes are processed.

9. Is There a Dedicated ‘Budget Action’ Type Coming?

Q: Currently, budgets are proposed as “Info Actions.” Are there plans for a specialized governance action just for budgets?
A: The Budget Committee has repeatedly requested an official Budget Governance Action to streamline the process. IOHK/IOG has indicated it’s on their roadmap, but an exact release date hasn’t been confirmed. Such an action could reduce vote times, clarify rules, and generally make budgeting more efficient.

10. What Happens After 2025? Is This an Ongoing Process?

Q: Once the budget for 2025 is settled, does everything reset for 2026?
A: Budgeting is envisioned as an annual or periodic cycle. The 2025 budgeting process establishes precedents, frameworks, and committees that will continue—subject to community feedback and refinements. Next year, the community can either renew or revise any bucket’s scope, allocate more or less funding, or introduce entirely new budget lines.

Final Thoughts

From capping annual Treasury spending to ensuring that core technology, tooling, and adoption efforts receive proper support, the Cardano budget is a complex but crucial process. The January 8, 2025 AMA emphasized how Intersect and its committees aim to balance flexibility, transparency, and efficiency—all while encouraging community-led innovation. If you have ideas or concerns, now is the perfect time to jump in, speak up, and help guide the future of Cardano.

Watch the full AMA here.

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16

(January 14, 2025)

Cardano Budget AMA Recap: Top 10 Questions

On January 14, 2025, the Intersect Cardano Budget Committee held one of its regularly scheduled open AMA (Ask Me Anything) sessions via Zoom. Community members from around the world joined to learn more about Cardano’s first on-chain budget process—covering everything from timelines to potential new committees and regional efforts. Below are the top 10 questions and answers, providing a concise overview of what was discussed.

1. Where Can I Learn the Basics of the Cardano Budget Process?

Q: I’m new to the budgeting process. Is there a resource explaining how everything works?
A: Yes. The Budget Committee Knowledge Base is your best starting point. It includes documentation on how the committee operates, meeting minutes, and the evolving 2025 budget draft. You’ll find it at the link provided below.

2. What If I Have a New Idea—Where Do I Submit Proposals?

Q: If my team has a concept or project that needs funding, how do we fit it into the budget?
A: It depends on the project’s scope. Different committees (e.g., Technical Steering, Open Source, Membership & Community, Civics) manage specific budget areas. If your idea aligns with a committee’s domain (e.g., region-focused initiatives → Membership & Community), attend that committee’s public calls, review its knowledge base, and propose your concept there.

3. When Will the 2025 Budget Be Finalized?

Q: What’s the timeline for budget approval this year?
A: It’s contingent on two major steps:

  1. Net Change Limit Info Action – Once posted on-chain, it runs for 6 epochs (~30 days) requiring at least 65% DRep approval.
  2. Five Budget “Buckets” Info Actions – Each bucket (Core, Research, Innovation, Governance, Outreach) will also undergo a 6-epoch vote. Only after these pass—and the Plutus (Plum) Hard Fork is active—can treasury withdrawals begin.

4. Are Budget Details Public?

Q: I’ve checked the Knowledge Base but haven’t found the finalized 2025 budget documents. When will they be published?
A: A comprehensive budget proposal for the five buckets will go public the same day the net change limit info action is posted—targeted date around January 20, 2025. The community will have a 6-epoch (30-day) window to review and suggest changes before it moves on-chain.

5. How Can I Shape the Budget During the 6-Epoch Window?

Q: Once the budget is out, can I still propose modifications?
A: Absolutely. While the net change limit or each budget bucket info action is live (up to 6 epochs), you can join AMA sessions, visit the Cardano Forum threads, or participate in relevant committee calls. The Budget Committee will gather feedback and refine the proposal before finalizing it for DRep votes.

6. What If My Proposal Doesn’t Fit Any Current Committees or Buckets?

Q: I have a regional or specialized project that doesn’t align with existing categories—where does it go?
A: Intersect is open to forming new working groups or subcommittees if enough community members rally around an idea. For large-scale or unique proposals, you can also plan to incorporate them into the 2026 budget cycle or propose a separate “bucket” if you build a strong enough case. This might involve forming a regional hub or specialized group under the Membership & Community Committee’s purview.

7. Is a DAO-Like Approach Possible for Managing Budget Funds?

Q: Could a portion of Treasury funds be administered through a DAO structure or smart contract?
A: Yes, in principle. The new Constitution supports using “smart contracts and other on-chain mechanisms” to manage budgets. Any proposal to use a DAO or multisig structure must be sufficiently detailed, secure, and earn DRep approval. While no active proposal currently uses a DAO model, nothing prevents it from being proposed for future budget cycles.

8. Arts, Culture, and Entertainment: Where Do They Fit In?

Q: My project focuses on arts and culture. Is that something Catalyst handles, or can it be included in the main Cardano budget?
A: Project Catalyst is still a good avenue for early-stage, experimental, or novel arts-and-culture initiatives. However, you can also propose a dedicated budget bucket or sub-bucket in Intersect’s cycle—especially if it ties into ecosystem growth (e.g., outreach in Latin America). The key is to demonstrate how it benefits Cardano and meets DRep standards for accountability.

9. How Do We Handle Regional Hubs and Community Building?

Q: We want to create a LatAm community hub. Can the budget fund it?
A: The Membership & Community Committee oversees regional hubs and may include grants or line items in the official budget. Start by engaging that committee—attend its calls, outline a proposed hub’s goals, governance, and expected ROI (e.g., user growth, developer training). Strong proposals may be put to DReps as part of the Outreach or Membership line.

10. Looking Ahead: 2026 Budget and Beyond

Q: If we have a big idea but can’t get it in this year’s budget, what’s next?
A: The 2025 budget is on a tight timeline. If your proposal isn’t ready, or doesn’t fit neatly into existing committees and buckets, you can gear up for the 2026 budget cycle, which begins mid-2025. Spend the next few months building community support, refining your plan, and working with Intersect to ensure your proposal is heard when the next budgeting window opens.

Final Thoughts

This January 14 AMA highlighted the scope for creativity and collaboration within Cardano’s new budgeting system. From building local community hubs in Latin America to exploring DAO-based fund management, the door is open—if you can align your vision with the committees and earn DRep approval. As the 2025 budget cycle races ahead, continue to stay informed and share your perspectives. Each AMA moves Cardano closer to a more inclusive, community-powered allocation of Treasury funds.

Watch the full session here.

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17

(January 30, 2025)

Cardano Budget AMA Recap: Top 10 Questions

On January 30, 2025, the Intersect Cardano Budget Committee held another open AMA on Zoom, inviting community members to learn about and discuss the first-ever on-chain Cardano budget. Below is a concise recap of the top 10 questions raised, along with the answers and insights provided.

1. How Do We Track the Constitution’s Ratification and Other Governance Actions?

Q: The Plutus (Plum) Hard Fork is done, and the new Constitution is up for a vote. How can we stay updated on its progress?
A: You can use any of the Cardano blockchain explorers (e.g., ADASTAT, cardanoscan.io, etc.) to follow governance actions. Look for a “Governance” tab that shows each active proposal, its “Yes” and “No” percentages, and the outstanding (abstained) votes. You can also join the Intersect Discord (link below) to watch a feed announcing new governance actions in real time.

2. What Is the Timeline for the Net Change Limit and Budget Approvals?

Q: We’re waiting for the 2025 Cardano budget. How does the process unfold, step by step?
A:

  1. Constitution Vote (up to 6 epochs): DReps have about 30 days to approve or reject the new Constitution.
  2. Net Change Limit Info Action (another 6 epochs): Tentatively starting next week, an info action to set a treasury spending cap for 2025 will be live for about 30 days.
  3. Budget Info Actions (6 more epochs): Once the net change limit is approved, the five budget “buckets” will each go on-chain for a vote, also requiring ~30 days.

If all passes smoothly, April or early May could see treasury withdrawals funding Cardano’s core operations, research, governance, innovation, and outreach.

3. What If I Have an Event Proposal?

Q: I’d like to host or co-sponsor a Cardano-focused event. Which committee handles that?
A: A Marketing and Growth Committee is forming and will oversee much of Cardano’s event strategy under the Outreach budget bucket. This committee will also feature an Events Council concept—originally proposed by community members—meant to coordinate official presence at conferences, meetups, and more. While the committee is still taking shape, expect it to be fully functional by April (including public elections for seats).

4. Are There Separate Buckets for Core, Research, and Other Activities?

Q: I keep hearing about “five buckets.” What are they exactly?
A: The 2025 Cardano budget draft (coming soon for public review) is divided into five distinct areas:

  1. Core: Node development and related fundamental infrastructure.
  2. Research: Advanced protocol research, previously handled mainly by IOG, but now open to other contributors.
  3. Innovation: Community grants, including Project Catalyst.
  4. Governance: Funding items like DRep or Constitutional Committee compensation and governance tooling.
  5. Outreach: Marketing, events, and hubs (regional or topical) to grow the Cardano ecosystem.

5. Where Will the Budget Discussions Take Place?

Q: Once the net change limit is on-chain, how do we discuss the actual budget numbers and details?
A:

  • Cardano Forum: Draft budget documents will be posted here for everyone to review, comment, and propose edits over a 6-epoch period (~30 days).
  • Gov Tool “Proposal Forum”: As the net change limit ratification nears completion, each budget bucket will appear in the “Proposal Forum.” After final community feedback, they’ll convert into info actions on-chain.

6. Do I Miss Out If I Don’t Propose Right Now?

Q: If my project or idea isn’t ready by the time these budgets go on-chain, is the door closed for 2025 funding?
A: Not necessarily. You can submit supplemental budgets later in the year—provided the treasury’s net change limit isn’t exceeded. The Constitution allows the community to propose additional or revised budgets. However, each must go through the same ~30-day (6-epoch) info action vote, so plan for that timeline.

7. Can Budgets Be Multi-Year, or Do We Only Have Annual Cycles?

Q: What if a major initiative spans multiple years—can it be rolled into the 2025 budget?
A: Thus far, multi-year budgets haven’t been used in the new system. The simpler path is to propose a single-year budget with defined milestones, then re-apply each year (or propose a follow-up budget). The community and DReps may consider multi-year projects, but such a proposal must be crystal clear on how funds are locked up, paid out, and audited.

8. Why Is the Net Change Limit Higher Than the Actual Budget?

Q: I heard the net change limit might be set at 350M ADA, while the intersect-led budget is around 200M ADA. Why the difference?
A: The net change limit is a ceiling—essentially an upper spending cap to avoid draining the Treasury. By staying well below that limit, Intersect leaves headroom for other community or MBO-led proposals to emerge. If unforeseen events arise, there’s also room for emergency or supplemental budgets without another long ratification process.

9. How Are Elections Being Handled, and Can I Join a Committee?

Q: With new committees (like the Marketing/Growth Committee) forming, who decides membership?
A: Each Intersect committee has publicly elected seats that come up for rotation at different intervals. This April, multiple committee seats will be open for community members to run. If you’re interested in guiding budgets, planning marketing, or shaping governance, watch for election announcements in Intersect’s Discord and the Cardano Forum.

10. Does Everything Need a Single On-Chain Approval?

Q: Will one big “Yes” vote cover everything?
A: No. Five distinct info actions—one per bucket—will each get a separate DRep vote. The community can thus approve, reject, or ask for revisions on individual parts (e.g., maybe “Core” is fine, but “Outreach” needs changes). Additionally, each bucket can have multiple treasury withdrawal actions, giving committees flexibility to manage funds in phases rather than all at once.

Final Thoughts

The January 30 AMA highlighted Cardano’s collaborative approach, emphasizing how multiple committees, community input, and on-chain voting converge to shape the first formalized budget. Over the next few months, expect more concrete proposals, more AMAs, and a transparent review of every line item. Your voice matters—jump into the forums, ask questions, and help Cardano put its Treasury to optimal use in 2025.

Watch the full session here.

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18

(February 04, 2025)

Cardano’s First-Ever Budget Nears Release: Top 10 Insights from the AMA

On February 4, 2025, Intersect’s Budget Committee hosted another open-session AMA. With a room full of community members eager for updates on Cardano’s first-ever on-chain budget, the conversation touched on everything from net change limits to committee structures. Below are the top 10 questions that came up—and the clear answers provided.

1. Where Is the Budget Proposal?

Q: We’ve heard about an 80+ page budget, but when will the community actually see it?
A: Lloyd explained that the text is nearly ready for public release, pending final reviews by various committees and the Intersect Steering Committee (ISC). The goal is to publish it this week so everyone can start dissecting, discussing, and refining each component.

2. Will There Be Separate AMAs for Each Budget “Bucket”?

Q: With five different budget buckets (Core, Research, Innovation, Governance, Outreach), will they each get a dedicated session?
A: Yes. The Budget Committee plans to host multiple AMA sessions where representatives from every bucket (and their corresponding committees) will be on hand to answer direct questions. In many cases, all buckets will be covered in a single session so attendees can ask across topics, but some buckets may also hold additional focused AMAs.

3. Does the Net Change Limit = Actual Spending?

Q: There’s talk of setting the net change limit at 350 million ADA for 2025. Does that imply the network wants to spend 350 million ADA?
A: Not necessarily. This 350 million ADA figure is the maximum that can be taken from the Treasury in a single calendar year. It’s based on the estimated replenishment rate of the Treasury, aiming to prevent depleting principal. Intersect’s own proposed budget is around 200 million ADA—leaving space for other proposals.

4. Which Committees Oversee the Five Buckets?

Q: Cardano has multiple committees—Technical Steering (TSC), Open Source (OSC), Civics, Membership & Community, etc. How do they map to the five buckets?
A: Each bucket can involve multiple committees:

  • Core: Primarily TSC (tendering node development) and some OSC (community-driven core improvements).
  • Research: Managed with input from TSC and research-focused teams.
  • Innovation: Often involves Project Catalyst and the Membership & Community Committee for broader grants.
  • Governance: Civics Committee leads on future governance tooling, Constitutional Committee needs, DRep/CC compensation, etc.
  • Outreach (Growth & Marketing): A newly forming Growth & Marketing Committee will manage events, marketing, and hub expansion.

5. Will New MBOs (Member-Based Organizations) Also Submit Budgets?

Q: Charles Hoskinson hinted that other MBOs might arise and propose their own budgets. What if their sums exceed the net change limit?
A: Lloyd and Lawrence confirmed that multiple budgets can be presented. However, if combined proposals exceed the net change limit, it becomes unconstitutional. The Constitutional Committee could reject all those budgets, sending them back for revisions. Each year’s net change limit forces budget proposals to coordinate, ensuring they stay within that cap.

6. How Will We Handle Surplus Funds or Shifting Needs?

Q: What if a bucket doesn’t use all its allocated funds, or if one bucket ends up needing more mid-year?
A: Intersect can propose re-allocations via an info action if the DReps agree, or simply return surplus funds to the Treasury. Similarly, if a bucket sees overspending, the DReps can approve moving funds from another bucket—or decide to maintain the original limits.

7. Is the Budget Aligned to a Calendar Year, or Rolling Periods?

Q: With Cardano epochs and the concept of a yearly net change limit, how will the timeline be structured?
A: The net change limit is pegged to the calendar year: January 1 to December 31. Intersect aims to propose future budgets late in the prior year (Q3/Q4) so committees can sign contracts or tenders early. The budget net change limit also rolls forward unless a new limit is voted in, providing a consistent annual framework.

8. What About Multi-Year Projects?

Q: Some crucial development or partnerships might span multiple years. How do they secure multi-year funding?
A: A single info action can outline multi-year milestones. However, DReps often prefer milestone-based or annual approvals to ensure accountability. For instance, a project might propose a three-year plan, but it should break out annual or milestone-based treasury withdrawals—rather than demanding an entire multi-year sum upfront with no guardrails.

9. How Do Membership Fees Factor Into Intersect’s Budget?

Q: If Intersect is requesting budget funds for operational costs, what happens to the annual membership fees paid by individuals and enterprises?
A: Lawrence clarified that membership fees provide minimal revenue relative to Intersect’s overall operating costs—just a few hundred thousand dollars. By Wyoming law, Intersect must charge membership fees (it’s an MBO), but they remain intentionally low to keep membership accessible worldwide. Intersect recovers most of its operational costs through the budget’s administrator line items rather than large membership fees.

10. Can We Propose Budgets Outside of Intersect?

Q: Must all funding requests go through Intersect, or can the community propose entirely separate budgets?
A: The Constitution allows any participant to propose a blockchain ecosystem budget if it stays under the net change limit. If an MBO or entity has a robust admin plan (audits, transparency, milestone gating), the DReps can consider it. Intersect remains just one administrator—though it’s aiming to set best practices and ensure no single group depletes the Treasury.

Final Thoughts

With the net change limit soon to be finalized, Intersect is at the cusp of releasing full budget details. Expect to see five distinct budget buckets—Core, Research, Innovation, Governance, and Outreach—each debated and refined over six epochs of on-chain voting. Whether you represent a new project, an existing Cardano startup, or just a curious community member, now is the time to engage in the conversation, share your feedback, and help shape the spending of Cardano’s Treasury for 2025 and beyond.

Watch the full session here.

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19

(February 06, 2025)

Cardano Budget AMA Recap: 10 Key Takeaways from the Session

On February 6, 2025, the Intersect Cardano Budget Committee held its regular open AMA via Zoom. With multiple committees finalizing figures for Cardano’s first-ever on-chain budget—and a community eager for details—this session covered everything from timeline delays to potential in-person workshops. Below are the top 10 questions and answers you should know.

1. Why Hasn’t the 2025 Budget Been Released Yet?

Q: The community keeps hearing about delays. What’s the holdup?
A: The Budget Committee unanimously voted for a one-week extension to gather more line-by-line detail from various committees (TSC, OSC, Growth & Marketing, etc.). The top-line figures are mostly set, but the committee wants clarity on ROI, deliverables, and breakdowns within each budget item. Once finalized, the detailed budget will move to public review.

2. When Can We Expect the Draft Net Change Limit to Go On-Chain?

Q: Are we at least close to approving a net change limit for 2025?
A: A draft text for the net change limit is already available for the community to review. Intersect aims to post it as an info action on-chain once the Budget Committee agrees it’s ready. The entire net change limit vote will run for 6 epochs (~30 days), requiring 65% DRep approval.

Read the Draft Net Change Limit

3. What About the Core Bucket—Is It Strictly ‘Keep the Lights On’?

Q: Everyone knows the core budget is a top priority. Does it include more than just node maintenance?
A: Yes. The Core bucket covers node maintenance (essentially “keeping the lights on”), but also funds new engineering initiatives like LACE, Paris, and other critical technical development. It’s spearheaded by the Technical Steering Committee (TSC), with input from the Open Source Committee (OSC) on community-driven enhancements and maintainers.

4. How Will the Open Source Committee (OSC) Prioritize Projects?

Q: The OSC has multiple items on the table—security, bounties, developer training. Which are must-haves?
A: The OSC highlights four top items:

  1. Maintainer Retainer Program – Ensures robust, long-term maintenance for core projects.
  2. Code Forest – Incentivizes new tooling and development.
  3. 24/7 Security Team – Rapid response to bugs or vulnerabilities.
  4. Bug Bounties – Rewards for finding and fixing critical issues.

All are crucial to decentralizing and expanding Cardano’s core open-source ecosystem.

5. Is the Growth & Marketing Committee Ready?

Q: There’s talk of forming a Growth & Marketing (GMC) committee, but it seems new.
A: The GMC was officially formed just recently. It’s still aligning on budget needs and goals—like event sponsorships, marketing campaigns, and outreach. Because it’s so new, there’s a chance its budget may come out after other buckets if it needs more time. Look for AMA appearances or community calls to learn about their evolving roadmap.

6. What’s the Plan for a Cardano Workshop or DRep Gathering?

Q: Rumors floated about an in-person gathering in Denver. Is that happening?
A: No concrete plan is set. The idea is to host in-person workshops to deep-dive on the budget, gather community input, and refine proposals. Denver was suggested due to the ETH Denver timeframe and venue availability. However, no final date or location is confirmed. All sessions will also be live-streamed for broader participation.

7. Can Budgets Pass Individually—or Must It Be All or Nothing?

Q: If some buckets have more consensus than others, can they be approved first?
A: Each of the five budget buckets (Core, Research, Innovation, Governance, Outreach) will appear on-chain separately as info actions. If, for example, Core and Research reach the 65% threshold quickly, they can pass—and be funded. Others with unresolved community concerns can be delayed, revised, or re-voted as needed.

8. How Will the Committee Minimize ADA Sell Pressure?

Q: One major concern is treasury-funded projects dumping ADA on exchanges. Has that been addressed?
A: Yes. Treasury and financial experts from CF, IOG, EMURGO, and Intersect have been testing OTC (over-the-counter) sales for ADA to avoid large order-book dumps. Most contractors quote fees in fiat terms, so the goal is a measured, consistent conversion schedule without spiking volatility on retail exchanges.

9. Are Multi-Year or Short-Term Budgets Possible?

Q: If we’re already behind for 2025, can we do a shorter or multi-year budget?
A: The Constitution allows any scope, whether it’s a shorter time (June–December 2025) or a multi-year chunk. For 2025, Intersect plans a June–December window due to earlier delays. In 2026, the committee hopes to have a full January–December budget and a more refined process from lessons learned this cycle.

10. How Do Committees and Community Collaborate Going Forward?

Q: Committees seem busy finalizing numbers; how can I offer input or join?
A: Keep an eye on:

  • Budget Committee AMA sessions (twice weekly)
  • Upcoming community spaces (e.g., Growth & Marketing’s events/working group calls)
  • Intersect’s Discord for direct engagement

Each committee is mandated to host open calls and gather feedback. If you have expertise—especially in events, open source, or marketing—jump into these discussions now.

Final Thoughts

From potential in-person workshops to balancing ADA’s sell pressure, every detail counts as the first-ever Cardano budget takes shape. Committees are working overtime to finalize their proposals, and community voices—like yours—will ultimately decide the outcome. Now’s the time to tune in, review proposals as they drop, and make your voice heard in the weekly AMA sessions, forum threads, and Discord discussions.

Watch the full session here.

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20

(February 11, 2025)

Cardano’s First-Ever Budget Nears Release: Top 10 Takeaways from the AMA

On February 11, 2025, the Intersect Cardano Budget Committee held an open AMA session via Zoom to discuss the upcoming release of Cardano’s inaugural budget. Hosted by members of the Budget Committee, as well as representatives from core committees like the Technical Steering Committee (TSC) and the Open-Source Committee (OSC), the session drew a highly engaged audience keen to hear updates and offer feedback.

Below is a comprehensive summary of the 10 most pressing questions raised during the AMA, along with the answers and insights provided by committee members. Whether you’ve been following the budget process for months or you’re just now tuning in, these key takeaways will help you understand what’s at stake—and how you can get involved.

1. What Is the Current Status of the Budget Release?

Q: When will the community see the draft budgets on the Cardano Forum?
A: Jack Briggs, a Budget Committee member, explained that the documents are nearly finalized. The committee is carefully double-checking all links, numbers, and references to avoid confusion. They expect the budgets to be posted on the Cardano Forum imminently, opening the next phase of community consultation and feedback.

2. Where Should I Provide Feedback on the Draft Budget?

Q: There are many channels (X/Twitter, Reddit, etc.) discussing Cardano. Which one is “official”?
A: Lloyd, from the Budget Committee, emphasized that while the team actively monitors multiple channels (X/Twitter, Reddit, YouTube, and more), the Cardano Forum will serve as the primary home for structured feedback. Separate discussion threads for each budget area will be set up, making it easier to keep track of questions, suggestions, and key points without losing them in social media noise.

3. How Will the Budget Ratification Work on-Chain?

Q: What are the milestones we’re looking at to move from draft budgets to on-chain approval?
A: The net change limit proposal (the maximum amount of ADA that can be spent from the Treasury in the upcoming cycle) must first pass a DRep vote with at least 65% approval. Once the net change limit is ratified, separate “info actions” for each of the five major budgets (e.g., Core Tech, Marketing, Community, etc.) will be voted on by DReps. If approved, those budgets then become actionable, and withdrawals from the Treasury can be executed.

4. Is Anything Already Being Paid For with Treasury Funds?

Q: Are there teams or projects currently working under the assumption they’ll be funded by these new budgets?
A: As of now, no. Lawrence from Intersect clarified that most ongoing contracts are still paid via Cardano Development Holdings (CDH), a separate fund. The only provisional item is a short-term maintenance agreement ensuring the network continues to run until the budget is finalized. Any new or extended projects must await full community approval of the 2025 budgets.

5. Can We Propose New Buckets or Budget Categories?

Q: Some community members believe essential tools and services might not fit into existing categories. Is there room for new ideas?
A: Absolutely. The committees made it clear that nothing is set in stone. If community members spot a gap—like a specific tooling or public-good project not covered—participants are encouraged to raise these in the Forum threads. The Budget Committee remains open to creating additional or auxiliary budgets if there’s sufficient community consensus.

6. How Do We Avoid Duplication Among Committees?

Q: With multiple committees (TSC, OSC, Catalyst, etc.), how do we prevent overlap and wasted resources?
A: Both Lloyd and Lawrence assured the audience that the Budget Committee has already scrutinized multiple proposals for potential overlaps. However, they want community help to flag any duplications they might have missed. The aim is to consolidate where necessary and ensure each deliverable is aligned with Cardano’s roadmap.

7. What Value Can be Created in Just Six Months?

Q: Since we’re already well into the year, how realistic is it to accomplish big initiatives?
A: Matt from the TSC explained that some projects are already in advanced stages and can feasibly reach deliverables by year’s end. Others, like new research areas or big technical leaps (e.g., sidechains, LACE wallet improvements, or Bitcoin interoperability), may move forward only to the next development milestone. Most proposals outline phased work, so partial progress can be achieved even within six months.

8. Are Budget Figures Set or Subject to Tender Processes?

Q: Are the budget amounts we see final, or will they change depending on vendor quotes and market conditions?
A: Many items in the draft budget use indicative costs rather than finalized figures. The committees plan to issue open tenders, allowing multiple vendors or teams to bid. The final contract amount could be lower—or higher—depending on the proposals received, ensuring Cardano secures the best value.

9. How Are You Handling Price Volatility and Stablecoins?

Q: Given ADA’s volatility, is there a plan to convert some funding into stablecoins like USDA or USDC?
A: Lawrence mentioned that Intersect has been exploring various treasury management strategies, including pegging some portion of reserves to stablecoins. The goal is to minimize price risk without causing undue market impact. The team has also considered negotiating large over-the-counter (OTC) sales directly to buyers (whales or institutions) to avoid pushing prices down on open markets.

10. When Will Treasury Funds Likely Flow?

Q: Assuming everything goes smoothly, how soon could money start moving to approved projects?
A: Tentatively, June or July is a realistic timeframe for actual disbursements, though this depends on achieving consensus and the net change limit passing on-chain. Certain committees might get approval faster if the community finds strong consensus on their budgets (e.g., crucial core tech items). Meanwhile, more controversial items may take longer to finalize.

Conclusion

The February 11 AMA underscored just how pivotal this inaugural budgeting process is for Cardano’s future—and how committed the community is to getting it right. From core technical upgrades to treasury management strategies, the coming weeks of debate, feedback, and refinement will shape Cardano’s development path for the year ahead.

The Budget Committee, TSC, OSC, and other stakeholders are eager for your input. If you want to help ensure Cardano’s treasury is used both efficiently and innovatively, now is the time to dive into the details, ask questions, and propose solutions. Together, the Cardano community can set a new standard for decentralized governance and on-chain budgeting.

Watch the full session here.

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