Budget Reconciliation workshop #1 – Day 2 (Recording)
Governance and Proposal Process
🗳️ The Ecclesia polling tool, a flexible on-chain voting system, will determine proposals for the Intersect budget info action based on DREP consensus, serving as an MVP for the budget process and beyond.
💼 Proposals that do not select Intersect as administrator or miss the April 24th 5:00 p.m. UTC deadline can be included in other budget information actions, with a second reconciliation cycle for initially excluded proposals.
🔍 The net change limit of 350 million ADA for the 2025 budget year passed on-chain, with workshops gathering DREP consensus on proposals polled via the Ecclesia tool.
Funding Requests and Project Proposals
💰 Liquid, an open-source Cardano public good, requests 7.2 million ADA, while OC, an open-source sustainable development model, seeks 5.8 million ADA.
🧠 Cardano Visual ADA, a multi-layer ML framework for real-time on-chain anomaly detection, requests 2.9 million ADA.
🔗 Cardano crosschain interoperability protocol integration requests 200k ADA while deploying an export onechain crosschain data transfer protocol to Cardano, seeking 617k ADA.
Technical Challenges and Ecosystem Development
🖥️ Vacuum Labs, developing Cardano hardware wallet software for 7 years, aims to improve user experience and maintain integrations with Ledger and Trezor wallets.
🚀 The Starstream Next Gen VM proposal aims to replace the existing Plutus VM, introducing development challenges as developers must learn a new language.
📊 The programmable assets standard is in a testnet phase, with proposals relying on it lacking clear timelines, raising concerns about feasibility and coordination.
Identity and Collective Governance
🆔 The Identity Primitive team is designing a new identity primitive for Cardano collectives, a critical component for resolving voting and proposal issues.
🌍 The identity primitive team’s work extends to tribal communities in Kenya, Brazil, Canada, Greenland, and Iceland, managing 80% of the land targeted for conservation.
🤝 The Identity Primitive team is engaged in a major UNDP project that requires identity and collective identity solutions.
Project Management and Funding Allocation
💻 The rewards calculation service proposal requests nearly $1 million for developer support, infrastructure, and project management over the next year.
🏎️ The MLAR group proposal seeks to build an NFT on Cardano, potentially involving partnerships with high-profile brands like Mercedes.
💼 The product committee of Intersect sets the long-term vision and recommends proposals, while the community provides feedback on initiatives like regional product workshops.
Proposal Evaluation and Budgeting
📊 The voting tool allows DREPs to vote yes, no, or abstain on proposals, with results updating every 10 minutes and enabling vote changes before the Monday workshop.
💸 Significant funding requests in the “no category” proposals include $1.8 million for tokenised vehicle identities, $605K for a native asset CDN, and $2 million for USDX on Cardano.
🔬 An auditor questions the $1 million budget for the rewards calculation service proposal, citing established contract auditing rates on Cardano and suggesting the cost seems unjustified.
