Author: Anvil Development Agency, Inc. + Sellout
Governance Action Type: Treasury Withdrawal
Requested: ₳4,969,231 (~$1,093,231 USD at $0.22/ADA) · Duration: 8 months
Administrator: Intersect (budget administrator, by prior agreement)
Hellllllllo Cardano Forum. This is Cash, most of you know me from Cardano X (formerly Twitter). I am coming to you today with our updated proposal we are taking live to the treasury. We received a lot of positive feedback through the Intersect process and feel like we have the opportunity to get across the finish line. Please consider a YES vote for our proposal. We are available to answer any and all feedback/questions. Thank you for your time!
What this is
This withdrawal funds Phase 2 of a production, Cardano-native ticketing platform operated by Sellout and built by Anvil. Phase 1 — on-chain event creation, CIP-68 ticket minting, transfers, and attendance verification — is already live on Cardano mainnet, funded entirely by Sellout (over $130k invested), with no prior Cardano funding.
Sellout is a real, operating business: 200,000+ registered users, 250,000+ tickets issued, 350+ events a year. The anchor deployment is the contracted Yellowstone Club 2026 concert series (lineup includes Noah Kahan, Sting, Weezer, The Black Crows, Mumford & Sons, Dierks Bentley, The B52s) — $5.88M in 2025 historical revenue, projecting $6M+ on-chain in 2026, with ticket prices from $400 to $8,000.
What Phase 2 delivers
- A secondary marketplace with on-chain royalty enforcement
- Anti-scalping controls configurable per event (DID/SSI-compatible identity-binding, not centralized KYC)
- Custodial wallet onboarding for Sellout’s 200,000+ existing users (Cardano made invisible to Web2 users)
- Organizer tools for resale config, on-chain lifecycle data, and royalty management
- An independent third-party security audit
- A public launch campaign (agency-run, plus NIVA / INTIX / Pollstar Live! activations)
Value back to the Treasury
This isn’t a one-way grant. Through a new operating entity, we commit to a revenue-share repayment: 25% of all fees flow back to the Cardano Treasury until the Treasury’s contribution ($1,093,231) is repaid in full, then a smaller permanent 5% continues. Repayment progress is reported publicly each quarter. Plus the ~3% contingency (136,363 ADA) is returned to the Treasury if unused.
Why it matters for Cardano
A 200,000-user Web2 business is migrating core operations to Cardano — every ticket a CIP-68 NFT, every transfer/resale/royalty/check-in a transaction. Year-one targets: 75,000+ NFT tickets, 150,000+ on-chain interactions, 20,000+ new wallets. Real businesses, real revenue, real on-chain demand — directly aligned with the Cardano 2030 Vision (Pillars 2 & 5).
Accountability
Funds are milestone-gated (no delivery, no payment), administered by Intersect via the Sundae Labs TRSC/PSSC framework with independent oversight, an independent third-party audit, and public quarterly reporting. Full Article IV constitutionality disclosures are in the proposal.
Read the full proposal
- Full proposal & on-chain metadata (GitHub): GitHub - Cardano-Forge/sellout-treasury-withdrawal: Cardano Treasury Withdrawal governance-action metadata + full proposal: Sellout x Anvil production ticketing platform (Phase 2). · GitHub
We’ll be active in the thread to answer questions from DReps and the community. Thank you for reading and for any feedback. 
-Cash