Statement from Nathan Kaiser on the ITN vote


(Written by @Nathan_Kaiser, Chairperson of the Cardano Foundation)

Dear all,

I am once again proud of our vibrant community. The ITN extension vote is a living proof of our functioning democracy. The community has spoken and the Cardano Foundation supports its decision.

The Cardano Foundation’s mandate is to protect the interests of the community and we, therefore, let the community take the lead. As Cardano’s custodian, the Cardano Foundation’s Council decided to participate with 50% of its ada holdings and with that 50% voted to abstain.

Protecting the community’s interests and guided by decentralization principles, the Cardano Foundation believes the vote is a sign of democracy, a principle we hold close to our hearts.

Thank you for all your support.

Nathan Kaiser,
Chairperson, Cardano Foundation

10 Likes

@Nathan_Kaiser
It would be nice if CF could post the transaction hash so that everyone can see the CF-vote on the blockchain.

@ada_deus - you can find them via adastats:

2ddcd9613225478de4e1ecefa5a5157c794fc9938a9d1e9ecd0778a3d81d5204
ba1e342c298776593c2393c019070d00518db80950b9c7f73d1f91c60dced872
717601e0305c95de23ebe012a41d9106883a9f308c45a4bb36e7303383455fef
ba47aea0537530c802cd8f693f378697469a343ec461d93b05534052eeed0ac9
3 Likes

I’ve seen those but how do I know it’s them? Have you seen other accounts with over 50M ADA? They all voted yes! I can see in the last column 0 for the 4 TX hashes but how do you know it’s CF? If you take 4 TX hashes above yours and 4 below you get YES as a vote…Unless you of course have a link where it is for 100% verified that those 4 accounts that you gave are from CF indeed…
.
From https://cardano.org/en/genesis-block-distribution/ Cardano Foundation, Switzerland: 648,176,761 ADA -> 50% is then 324088380.5
the stake from the 4 accounts above is then 85,203,672.284859+85,229,052.232674+85,445,250.412889+85,554,505.556228 = 341,432,480.487 ADA
That seems legit :-)! It seems they got about 9.5% ROA on the ITN from 324.08 million originally so it must be them then.

2 Likes

Thanks for the update,
Please help my confusion. And please excuse my ignorance
I believed that the initial ITN extension vote was a choice of either Yes or No to extend the ITN. Looking at the adastats attached there were three Options?? Option 0, Option 1 and Option 2. What were these options and what was Option 1 that won? I have no idea of the outcome, I have seen nowhere a confirmation of whether the ITN was voted to extend and to go ahead for the second vote from the whole community, or not?
Thanks

1 Like

The options and their values were visible from voting tool(s). You can also check the details here.
To summarise, the vote options were:
0 -> blank (participate, but not affect yes:no ratio)
1 -> yes for extension
2 -> no for extension

1 Like

@Nathan_Kaiser @rdirt @Lucky
Why do I see threads saying the 1.49% vote was terrible and then threads saying it was living proof of democracy. My understanding was that this first vote was ONLY for the stake pool operators to vote and if they agreed to keep their stake pools running on the extended ITN as well as their new pools on the new Shelly platform (F+F and then the full net), then and only then would the entire community of ADA holders get the opportunity to vote. Yes? Is my understanding correct that as an ADA holder and not a stake pool operator that I was not entitled to vote in this first vote? There is so much confusion… @Lucky (thread above, and thanks for the reply), suggests that how could we get a ‘whole community’ to vote in three days so his/her understanding is different to mine and we’ve read the same articles. AND I have still not heard from any official Cardano source…IS THE ITN CONTINUING OR NOT? Unfortunately the whole communication before and after the vote seems to be an absolute debacle. What is the one true source of ALL information??

‘Living proof of democracy’ is probably just corporate spiel. Based from that statement, it sounds to me like Nathan Kaiser is completely out of the loop.
That’s why I posted the lack of publicity thread, because from what I’ve seen in telegram that was the general community opinion about this vote.

You aren’t the only one to think this: “My understanding was that this first vote was ONLY for the stake pool operators”.

The original post regarding this vote is here: An update on the ITN
And it states rather unclearly ““This first vote is open to anyone with a testnet ada stake on the ITN. While we encourage EVERY stake pool to have their say at this point, ada holders are not required to vote in this first vote. This is purely optional; their say will come later on, in July” , not specifically mentioning ITN delegators.

The vote didn’t pass because the threshold wasn’t met. If that isn’t a failure of democracy, I don’t know what is…
But I believe it failed because information wasn’t publicised well. Enough people made a fuss about it that Charles Hoskinsons responded on youtube.

The ITN will continue to run if stake pool operators continue to run their nodes, and some of them are.
This vote was only about whether ITN gets rewards for another month, which it won’t now because the vote didn’t pass.

This vote was a joke. But I have noticed ‘democracy’ occuring in other places; for example the CIP’s on github, and the feature requests/voting on IOHK about Daedelus software. These things should be praised, not this ITN vote farce.