Governance Actions

2025 Net Change Limit

The Cardano Constitution requires the establishment of a Net Change Limit, which defines the maximum amount of lovelace that can be withdrawn from the treasury during an outlined period of time. This governance action serves as an opportunity for all governance stakeholders to formally express their positions regarding the proposed Net Change Limit, ensuring transparency, accountability, and alignment across the ecosystem. This Net Change Limit facilitates a yearly budget cycle for the Cardano community. The 2025 Net Change Limit will begin at the start of Epoch 532 and continue for 72 epochs, finishing at the conclusion of Epoch 604 in December 2025. The 2025 Net Change Limit will be 350,000,000,000,000 lovelace (350M ada). This is the maximum amount that can be withdrawn from the treasury during this specific period and shall not be exceeded. The Net Change Limit will be used when reviewing both budget actions and treasury withdrawal actions to ensure constitutionality as required by Article IV of the Cardano Constitution and the Treasury Withdrawal Guardrails outlined in Appendix I.

Approve Cardano Foundation as New Managing Entity of Project Catalyst

The Cardano Foundation (CF), supported by Input Output Group (IOG), is requesting community approval to be appointed as the new managing entity for Project Catalyst. This will allow for full and effective transition of Catalyst operations and responsibilities from IOG to CF in accordance with the statutes of the Catalyst Foundation Company (CFC). This transition will ensure continuity of operations and minimise delays on milestone reviews and eligible payouts for teams delivering against projects in Funds 10-14. This approval request and Info Action is unrelated to Intersect’s role as the constitutionally mandated budget administrator for funds 14 to 16. This request is also unrelated to the already announced return to the Cardano Treasury of the previously approved allocations for Fund 15 and 16. This Info Action will be considered approved, if greater than 50% of the active DRep voting stake votes YES upon the action's expiration.

Securing Generic Top-Level Domains for the Cardano Ecosystem

The Cardano Foundation is seeking community support to apply for the registration of the .ada and .cardano gTLDs with the Internet Corporation for Assigned Names and Numbers (ICANN) during the next application window in Q1 2026. This initiative will only use the Foundation’s own financial resources and aims to secure a competitive digital presence for Cardano, unlock innovations and strategically position Cardano as a digital infrastructure.

Info Action (aff2909f#0)