Subject: Patrick Tobler (dRep drep1ygm9wxzrrdqpt0hek5kj7ys6tmsc8dycp7tkjwqxqrhjr6csq3s3t)
Date: March 20, 2026
Episode 5
The Inquisitor: Good morning, Patrick. Your dRep delegation stands at almost 38 million ADA with 240 delegators, including 20 million ADA from the CF. You’ve written that you only vote where you have expertise. Have you changed your motivation profile since becoming a dRep?
Patrick Tobler: I don’t think I have. The only thing is, I think it’s more important at the moment to spend money and actually accelerate than to save it. I was extremely conservative before, wanting to spend the least amount possible. But we only really have one shot. I’m less conservative now; we need to spend the money we have.
The Inquisitor: You were one of the people who voted “No” on the Constitution during the convention, but then you voted “Yes” on-chain without a rationale. What changed?
Patrick Tobler: I voted “No” in person because it wasn’t done to the point where I was happy with it. But the majority voted “Yes.” Part of democracy is accepting that maybe it’s not your ideal outcome, but you support the result of the process. I voted “Yes” to show support for the process.
The Inquisitor: Regarding Constitution 2.4, which was passed by dReps with very little SPO or CC involvement—you voted “Yes” without rationale again. Did you give feedback to the author, Uta?
Patrick Tobler: I didn’t talk to him, but I followed the discussions on Twitter. I liked him coming up with changes that made sense, like fixing the split between info actions and withdrawals. In general, I think it was an upgrade. People were less angry about the constitution updates than they were about not being involved in updating it.
The Inquisitor: You are leading in the AI space with Masumi. Does AI have a role in governance?
Patrick Tobler: Absolutely. A big problem is people lose track of changes; the Constitution is a long document. AI can help get the information dense enough to process. I also see AI dReps like SyncAI or Talos. As long as there is a human in the loop, I hope we see more AI in governance. It might make more objective decisions instead of favoring friends.
The Inquisitor: Have you ever communicated with your 240 delegators before taking a decision?
Patrick Tobler: No, I have never done it. I wish there was an easier way. I built a website called dRep Watch for this, but it never reached critical mass. A lot of delegators just trust the dRep. I’m very vocal on Twitter, so my delegators probably know my stance.
The Inquisitor: You previously wanted a low budget, but you passed a budget of close to 340 million ADA last year. Have you seen the impact?
Patrick Tobler: Some of it, for sure. The IOG budget was extremely overestimated—it’s a for-profit business for them. As far as I can tell, they’re not on track with most milestones, which is unfortunate. It’s a difficult decision; we have a small ecosystem and sometimes have to bite the sour apple to keep good developers here.
The Inquisitor: You voted “No” on the 2030 Vision because NFTs and AI were excluded in favor of RWA. Is the 2030 Vision being weaponized?
Patrick Tobler: It’s frustrating. Cardano could have positioned itself as an AI chain way before this. Now every other chain is saying they are the AI chain. I agree the vision can be weaponized, but it can also be used for good if we align all proposals around those KPIs.
The Inquisitor: Last question: How much are you willing to spend this year?
Patrick Tobler: I think we have to go hard. I think we need to go 450 million ADA. Now is the time to make it or break it. We cannot waste this momentum. I would rather see a lot of initiatives and spending than hoarding it.
X thread - https://x.com/silversoul8668/status/2039593698196103648?s=20
X space - https://x.com/silversoul8668/status/2034629069250437353?s=20
Previous episode - The Community Wants to Know: Episode 4 [Transcript]