As scheduled and announced in the meetup and Forum post, on August 4th, 2024, the second Cardano Online Meetup took place with 20 members, focusing on important topics related to the Cardano Constitution and decentralized governance. The meetup was hosted by Ha Nguyen, Cardano Ambassador, with special guests: Mr. Duc Tiger from Tiger Team, Mr. Duc Chau from Tre Viet - Bamboo, and Mr. Buck Nguyen from Cardano Asia TikTok. These experts were invited to provide information and answer questions related to the Cardano Constitution.
Agenda and Key Topics:
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Understanding Cardano’s decentralized governance.
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Roles in Cardano’s decentralized governance.
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Governance actions that ADA holders can propose.
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What is the Cardano Constitution, and why is it important?
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Introduction to the Cardano Constitutional Conference in Ho Chi Minh City, Vietnam.
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Preparation for participants before attending the Constitutional Conference.
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Q&A session.
The meetup began with a presentation by Mr. Duc Tiger, who provided an overview of the Cardano Constitution, explaining the Temporary Constitution, its role in building a sustainable governance framework, and the steps towards decentralized decision-making within the Cardano ecosystem.
Main Discussions:
- Why is the Cardano Constitution needed?
- The Constitution provides a clear governance framework necessary for decentralized decision-making, moving beyond the centralized control previously held by Cardano’s founding entities. It encourages community participation and transparency through proposals like CIP 1694.
- Current Governance Actions in the Temporary Constitution:
- There are seven groups of governance actions, including votes of no confidence in the Constitutional Committee, updates to governance parameters, creating or amending the Constitution, treasury withdrawals, and other information-related actions.
- Roadmap for Constitutional Development:
- The Temporary Constitution will be refined through community feedback until the end of 2024, followed by a Constitutional Conference in Argentina at the end of 2024 or early 2025 to ratify the official Constitution.
Q&A Session:
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Question: Who is eligible to run for the Constitutional Committee?
Answer: Mr. Duc Tiger: “Anyone can run for the Constitutional Committee, but candidates must go through an approval process, which includes assessing their professional knowledge and community reputation. If these criteria are met, they can join the waiting list. Committee members generally serve terms of 3 to 4 years, while the interim Constitutional Committee has a maximum term of 73 epochs, about 1 year.” -
Question: What are the specific roles and responsibilities of the ICC (Interim Constitutional Committee)?
Answer: Mr. Duc Tiger: “The ICC evaluates governance proposals from community members for constitutional compliance, working with Intersect committees and researchers to ensure they meet the required standards. They also vote on governance actions, except those directly involving the Constitutional Committee.”Additional Input by: Mr. Duc Chau
“The Committee decides which proposals are put on-chain. While anyone can check compliance, the final decision is with the Committee.”Further Explanation by: Mr. Buck Nguyen
“The Committee ensures changes are implemented gradually and carefully, particularly significant ones like constitutional amendments.” -
Question: If the Constitution is already open for community review, why is a Constitutional Committee needed?
Answer: Mr. Duc Chau: “While anyone can review proposals for compliance, an official body is necessary to approve and decide on their inclusion on the blockchain. This is the role of the Constitutional Committee.”Additional Input by: Mr. Buck Nguyen
“The Committee functions as a specialized body that reviews and ensures the legality of proposals, maintaining fairness and transparency.” -
Question: Will the temporary Constitution be applied immediately after the Hard Fork?
Answer: Mr. Duc Tiger: “Yes, the temporary Constitution will be in effect from the moment the Hard Fork occurs until the official Constitution is ratified, expected at the Constitutional Conference in Argentina.” -
Question: What motivates the community to propose governance actions?
Answer: Mr. Duc Chau: “Proposals are motivated by benefits, like SPOs suggesting increased rewards or creating new funds for specific purposes, driven by various community interests.” -
Question: Do we need a faster decision-making process for governance?
Answer: Mr. Duc Chau: “A faster process might be appealing but could undermine the system’s decentralized nature. Important decisions should be carefully considered, not rushed.”Additional Input by: Mr. Buck Nguyen
“An emergency mechanism might be necessary for urgent situations, but it must not compromise governance decentralization.” -
Question: What are the voting weights of different groups (DReps, SPOs, and the Constitutional Committee) for governance actions?
Answer: Mr. Duc Tiger: “Each governance body has equal voting weight. For an action to be approved, it requires the agreement of at least two out of the three governing bodies involved in voting.”
Conclusion:
The AMA provided valuable insights into the Cardano Constitution, emphasizing its role in promoting decentralized governance and inviting the community to contribute to shaping its future. The Meetup also highlighted the importance of community discussions and feedback to ensure the Constitution’s relevance and sustainable development.
A heartfelt thank you to all the community members who joined the AMA on the Cardano Constitution.
On behalf of the Organizing Committee,
Ha Nguyen
Cardano Ambassador
Cardano Vietnam Community