Transaction Details

{
  "0b5f9ded2de9d1782c9304a98d1ebf47735d577992a576727eb64596": {
    "CARDANO_CONSTITUTION_2": {
      "name": "CARDANO BLOCKCHAIN ECOSYSTEM CONSTITUTION",
      "Guide": {
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          "name": "CARDANO BLOCKCHAIN ECOSYSTEM CONSTITUTION.pdf",
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      "CONSTITUTION": [
        " # CARDANO BLOCKCHAIN ECOSYSTEM CONSTITUTION",
        " ## ARTICLE IV - VI",
        " ## ARTICLE IV. THE CARDANO BLOCKCHAIN ECOSYSTEM BUDGET",
        " ### Section 1",
        " Any participant in the Cardano Community may propose a",
        "Cardano Blockchain ecosystem budget at any time. The",
        "Cardano Community is expected to periodically propose",
        "one or more budgets for the ongoing operation,",
        "maintenance and future development of the Cardano",
        "Blockchain ecosystem and for covering other costs",
        "related to the implementation, administration and",
        "maintenance of the decentralized, on-chain governance",
        "processes provided for in this Constitution. The Cardano",
        "Community may propose one aggregate budget or multiple",
        "budgets for the Cardano Blockchain ecosystem. Such",
        "budgets are expected to cover not less than a period of",
        "73 epochs (approximately one calendar year) but nothing",
        "shall prevent the Cardano Community from proposing",
        "budgets for shorter or longer time periods. All owners",
        "of ada are expected to periodically approve one or more",
        "Cardano Blockchain ecosystem budgets through an on-chain",
        "\"Info\" action. As provided in Section 3 of this Article",
        "IV, withdrawals may be made from the Cardano Blockchain",
        "treasury as necessary from time to time to give effect",
        "to the Cardano Blockchain ecosystem budget or budgets",
        "then in effect. Existing budgets may be amended",
        "following the same process as provided in this Section",
        "1.",
        " ### Section 2",
        " Development of Cardano Blockchain ecosystem budgets and",
        "the administration of such budgets shall utilize, to the",
        "extent possible and beneficial, smart contracts and",
        "other blockchain based tools to facilitate",
        "decision-making and ensure transparency. Cardano",
        "Blockchain budgets shall specify a process for",
        "overseeing use of funds from Cardano Blockchain treasury",
        "withdrawals including designating one or more",
        "administrators who shall be responsible for such",
        "oversight.",
        " ### Section 3",
        " Withdrawals from the Cardano Blockchain treasury that",
        "would cause the Cardano Blockchain treasury balance to",
        "violate the then applicable net change limit shall not",
        "be permitted. No withdrawals from the Cardano Blockchain",
        "treasury shall be permitted unless such withdrawals have",
        "been authorized and are being made pursuant to a budget",
        "for the Cardano Blockchain that is then in effect as",
        "required by the Cardano Blockchain Guardrails Appendix,",
        "and which has not been determined by the Constitutional",
        "Committee to be unconstitutional.",
        " ### Section 4",
        " Any governance action requesting ada from the Cardano",
        "Blockchain treasury shall require an allocation of ada",
        "as a part of such funding request to cover the cost of",
        "periodic independent audits and the implementation of",
        "oversight metrics as to the use of such ada. Contractual",
        "obligations governing the use of ada received from the",
        "Cardano Blockchain treasury pursuant to a Cardano",
        "Blockchain ecosystem budget shall include dispute",
        "resolution provisions.",
        " ### Section 5",
        " Any ada received from a Cardano Blockchain treasury",
        "withdrawal, so long as such ada is being held directly",
        "or indirectly by an administrator prior to further",
        "disbursement, must be kept in one or more separate",
        "accounts that can be audited by the Cardano Community,",
        "and such accounts shall not be delegated to an SPO but",
        "must be delegated to the predefined auto abstain voting",
        "option.",
        " ## ARTICLE V. DELEGATED REPRESENTATIVES",
        " ### Section 1",
        " In order to participate in governance actions, owners",
        "of ada may register as DReps and directly vote on such",
        "governance actions or may delegate their voting rights",
        "to other registered DReps who shall vote on their",
        "behalf.",
        " ### Section 2",
        " Any owner of ada shall have the option to register as a",
        "DRep. Owners of ada shall be allowed to delegate their",
        "voting stake to one or more registered DReps, including",
        "themselves. DReps may be individuals or coordinated",
        "groups. Owners of ada who use third-party custodians or",
        "other designees to hold their ada, may authorize, or may",
        "withhold authorization for, such third-parties to",
        "delegate the voting rights of the ada owner to",
        "registered DReps on the owner's behalf. DReps are",
        "entitled to cast votes directly for on-chain governance",
        "actions and represent those ada owners delegating their",
        "voting rights to them. DRep voting thresholds are set",
        "forth in the Cardano Blockchain Guardrails Appendix.",
        " This voting system shall enshrine a liquid democracy",
        "model where owners of ada can seamlessly select among",
        "DReps, register as a DRep, and withdraw or change their",
        "delegation at any time.",
        " ### Section 3",
        " DReps who are representing delegators are expected to",
        "periodically adopt, and update as they deem appropriate,",
        "codes of conduct governing their activities as DReps and",
        "make such codes of conduct publicly available. DReps are",
        "encouraged to include ethical guidelines in their codes",
        "of conduct.",
        " ### Section 4",
        " The Cardano Community is expected to support the",
        "creation, maintenance and ongoing administration of",
        "tools to enable owners of ada to explore and evaluate",
        "DRep candidates, access and evaluate DRep codes of",
        "conduct and select DReps on such criteria as they deem",
        "relevant.",
        " ### Section 5",
        " DReps who are representing delegators may be",
        "compensated for their efforts. DReps shall ensure that",
        "any compensation received in connection with their",
        "activities as a DRep is disclosed.",
        " ### Section 6",
        " DReps shall not pay compensation to an ada owner or to",
        "an owner's designee in exchange for being appointed a",
        "DRep by such ada owner or by its designee or for voting",
        "on behalf of such ada owner or its designee.",
        " ## ARTICLE VI. STAKE POOL OPERATORS",
        " ### Section 1",
        " SPOs shall have a specific role in approving critical",
        "on-chain governance actions that require additional",
        "oversight and independence, voting separately and",
        "independently from DReps as set forth in the Cardano",
        "Blockchain Guardrails Appendix. SPOs shall participate",
        "in hard fork initiation processes as the operators of",
        "the nodes that participate in Cardano Blockchain's",
        "consensus mechanism.",
        " ### Section 2",
        " SPOs shall act as a check on the power of the",
        "Constitutional Committee under exceptional circumstances",
        "by separately voting on \"Motion of no confidence\" and",
        "\"Update committee/threshold and/or term\" governance",
        "actions, and on \"Parameter Update\" governance actions",
        "that affect security-critical parameters set forth under",
        "Parameters that are Critical to the Operation of the",
        "Blockchain in Section 2.1 of the Cardano Blockchain",
        "Guardrails Appendix.",
        " ### Section 3",
        " SPOs are encouraged to periodically adopt, and update",
        "as they deem appropriate, codes of conduct governing",
        "their activities as SPOs and make such codes of conduct",
        "publicly available. SPOs are encouraged to include",
        "ethical guidelines in their codes of conduct.",
        " ### Section 4",
        " Owners of ada who are both SPOs and acting as DReps",
        "shall publicly disclose that they are participating in",
        "on-chain governance actions in both such capacities",
        "prior to exercising any on-chain governance rights."
      ]
    }
  }
}