With the Chang hard fork ahead, Cardano stands on the eve of decentralized governance. The proposed governance model will ensure inclusivity and diversity while providing checks and balances through delegate representatives (DReps), stake pool operators (SPOs), and a constitutional committee.
During a bootstrapping phase, between the Chang #1 and Chang #2 upgrades, only three governance action types will be available: parameter changes, hard fork initiations, and info action. As a pioneering entity of the Cardano ecosystem, the Cardano Foundation will contribute to this bootstrapping phase in two ways, first by being an Interim Constitutional Committee (ICC) member and second by participating in the ICC election.
An Interim Constitutional Committee will be appointed during the bootstrapping phase and will have the power to approve protocol parameter changes independently and, together with SPOs, initiate hard forks. The appointed ICC) will interpret the Cardano Constitution, review governance actions, ensure transparency and fairness, support initial governance structures, and guide the transition to a fully established Constitutional Committee. Each member has one vote, with approval thresholds set by the âthresholdâ protocol parameter.
Cardano Foundationâs Voting Decisions for the ICC
The Cardano Foundation participated in the ICC election, ranking candidates based on their adherence to constitutional principles, engagement with the Cardano community, transparency, technical expertise in blockchain technology, and commitment to regular communication.
The rankings were as follows:
- The Cardano Atlantic Council
- Eastern Cardano Council
- Lloyd Duhon
- Johnny Kelly
- Cardano Japan
- Joshua Stone
The Foundation, voting with 20 million ada, strongly emphasized transparency throughout the process, and of course you can keep track on our stake through pool.pm This active involvement underscores the Foundationâs unwavering commitment to fostering a robust and transparent governance framework, ensuring the long-term success and integrity of the Cardano ecosystem.