Big Money On The Line! Cardano Governance, 16th April

00:52 Cardano Governance Introduction
04:52 IO Budget X Space Overview
05:57 Key Take Aways
11:52 Project Calayst Will Continue
12:54 How to Delegate or Become a DRep
13:30 AI and Cardano Governance
16:13 Alternative Governance Website

00:00
Alright guys, another good news update for you, but I’ll be looking into mostly the governance side of things and what’s happening there. But then also the basics as well, because I know a lot of people in the YouTube comments down below have been saying, Pete, this is all sounding really good, but I have no idea how to delegate to a DREP, what a DREP is or what on earth governance is in the ecosystem. So we’ll have to cover some of the basics here to get everyone up to speed.

00:25
But there’s also some really cool stuff. There was an X space where Charles was on a little bit earlier this week talking about the IOG budgets and his vision and idea of what the Cardano Roadmap is going to going to look like. So I’m going to go through that X space. I’ve got all the show notes on the Learn Cardano website. All that coming right up. Hey everyone, I’m Peter Bui and this is your first time here. You know what to do. Hit that thumbs up, like, subscribe, notification bell and I’ll take you through everything that’s happening in

00:52
the Cardano ecosystem. So let’s get right into it. And the first one here is all around the governance side of things. And if you haven’t checked out this website yet, if you don’t know what’s going on, this is probably the best place to start. Now, Cardano is going through its final era of governance, its final era of development. And this is the idea of putting the Cardano blockchain into the hands of its community, of its ADA holders. And if you want to get a really good overview of everything that’s happening,

01:21
This GovTools website has basically all the information that you need. You can learn about the constitution. You can learn about how to delegate, why you need to delegate and all that. But just to give you guys a really quick summary, essentially the idea is that all the ADA holders now can vote on various proposals, budget proposals that are being submitted into the ecosystem at the moment. And some of these budget proposals are huge. They are requesting.

01:48
millions and millions of ADA to build up the ecosystem, do scaling and build some really cool, innovative stuff for marketing, for example. And you as an ADA holder can now vote for these various proposals when it comes to voting time and either let them through and get the funding or deny them the funding. So this is the era that we’re in at the moment. And there’s a lot of proposals to go through. Now,

02:15
Not everyone has the technical expertise to even understand some of these proposals have gone up. Like what is an extended UPLC converter? What is a ZK fold, ZK roll up? All these technical terms in the blockchain space really confuse people and they sound all well and good. And, know, they get lots of comments, lots of likes, but do we know if it’s authentic? Do we know the teams? And this is where delegate representatives or DREPs come in. So DREPs such as myself,

02:44
can analyze all these proposals and vote on your behalf. And you can delegate to that DRep and allocate your ADA voting power to that DRep to vote on your behalf. There’s no rewards or anything like a staking to a state pool or anything like that, but you can help the ecosystem by using your ADA power to vote within the ecosystem that way. So if you are

03:10
wondering what on earth is going on if you don’t know what to vote for, who to vote for, what to vote on, any of that stuff. You can follow the videos here. You can listen to the X spaces and get educated and get up to speed with all that stuff. But that takes a lot of time. It’s really time consuming. It takes a lot of effort and technical understanding. We can delegate to the various DReps out there. And there’s a lot of DReps. This here, I just clicked on the DRep directory. This is essentially all the DReps that have registered on chain.

03:38
And you can find all their profiles here. There’s quite a few. There’s about a thousand or so, I think, at the moment. And you can navigate through them, search their profiles. And if something aligns with you, then you can delegate your ADA to that particular DRep and they’ll vote on your behalf. I do have a DRep ID. You can type in my name if I can actually spell it. And you can find my DRep profile and you can delegate to me. There’s other amazing DReps out there as well. And you can find their profiles.

04:07
You can filter selection here, et cetera, and find exactly someone that aligns with your views in terms of how you may possibly vote within the Kedana ecosystem. So this is definitely a good tool to use. There’s other ones as well, but I’ll talk about this one in a moment. This one is governancespace.com. And this is another brilliant website where it’s filtering through all the details for you as well. if you want to delegate to myself, you can, you find the details down below. If you want to find other DRep, x

04:36
is probably the best place to go search for Cardano DRep and you can see what they’re talking about and possibly you can delegate to them. I’ll put a couple of other links and references down below as well, but this is the era that we’re in at the moment and it’s a very, very interesting era. So this is the X space that came up a little bit earlier this week and this is the DRep forum. I owe budget proposals and Charles was on this one to talk through the budgets and workshops and everything that’s happening.

05:06
And there was so much information to go through here. I found it extremely hard to go through this. It was two and a half hours, but thankfully we have AI and we can analyze all this and break it all down. So I took this through a AI audio to text translator. And then I used that through ChatGDP to bring in the key takeaways and themes.

05:32
and then do a long summary of this as well. So it did a really good job. listened to a part of it and it’s pretty much lined up pretty much on the dot. So if you want to find this particular post here where it does go through and gives you the breakdown, you can find it my ex-profile, astroboy soup is my handle, or you can find it on the learnkadano.io website. But this here, I’ll just take you through the key takeaways and summary here, the key themes and takeaways, sorry.

06:02
Fund known contributors now don’t delay progress for the perfect process. So this talked about the entire governance process at the moment. People are complaining that it is, there’s a lot of bureaucracy behind it. There’s a lot of technical aspects in terms of who’s controlling the funds, the milestone process. All these processes that happen in the background and

06:29
Sure. It’s not perfect at the moment, but it’s the only process that we have now to actually release these funds to continue development. So IOG will be working on layoffs, all these scaling L2 solutions, Hydra. I did an update last week. There’s a big list of things that they’ll be working through in terms of the budget. But if we don’t support the budget proposals at this point in time within the governance framework that we have, we may delay development for another six months.

06:59
put the Cardano blockchain further behind. So they’re encouraging people just vote for this one through. Sure, it’s not perfect, but hey, we can fix things up, refine things and then next budget proposal round, we can improve on that. So that’s the premise that we have at the moment. And I kind of agree with that. Let’s just move along and get the process rolling and we’ll fine tune things at a later date. Now the other theme here was accountability via DREPs.

07:25
Delegated DReps are the final decision makers per the Constitution and SIP 1694. So the Constitution was ratified late last year in December, 2024. And a lot of the work will be put on the DReps at the moment. And these are, like I said, all the people that are voting within the governance ecosystem. So if you go back to the DRep directory here and all these budget proposals, all the DReps will be voting on what gets passed, what doesn’t get

07:55
past. So we’ve got a deadline for all this stuff and we do have to start going through this and analyzing all this. Like I said, there’s so many to go through. So this is just a snippet of each one of the categories. If I click on show all here and this is just the core technical side of things, I’ll go through it and there’s just more. It just keeps going and going and going and going and going. But I lost count of how many of there were there. But there’s criteria here.

08:24
You know, we’re looking at millions of ADA, hundreds of millions, hundreds of thousands of ADA, sorry. So budgets that are less than a certain threshold may not make it through because we are looking at higher amounts of budgets here. But I don’t know, I think stuff like this, Lucid Evolution, this is a transaction building library and it does need to be maintained. And this is like core infrastructure stuff that needs to be worked on continuously to keep operating and working.

08:54
A lot this stuff just needs to be passed and pushed through, in my opinion. Let’s go back to the overview here of the X-Space. Coalitions over bureaucracy. C-Dex enables streamlined funding for ecosystem builders without heavy RFP red tape. So this is a new concept that was talked about within this conversation here. Let me just scroll down to this. So the C-Dex coalition stands for Kadano Developer Ecosystem Coalition. Why does this matter?

09:23
avoids the bureaucracy delays of RFP only systems, funds core contributors like TX Pipe, Blink Labs, Tweed, who deliver critical infrastructure via Project Calus using multi-seg smart contracts for transparency and institutional checks. So this here, they want to push through, they want to use these Kadano Developer Ecosystem coalitions and anyone that is building core infrastructure stuff

09:50
should just have their proposal pushed through. And I totally agree with that. This is going back to what I just pointed out there, stuff like Lucid Evolution, Extend Symbolic, the stuff that MLabs Core Plutus Architecture, this stuff should just be paid for. It’s like, you know, their reasonable budget requests. They’re not like in the millions for something outrageous. And that kind of stuff needs to be just pushed through because it needs to be done. It just needs to be done.

10:19
So the idea of the Cardano developer ecosystem coalition, I think is a good idea and probably a bit of hand holding from the technical side of things that technical developers out there giving us some guidance on that is kind of important. Now technology and governance synergy catalyst and Hermes aim to empower community innovation with real on chain tools. So this is some of the additional stuff that should be coming through for us last year, transparency and modularity, multi-seq smart contracts, modular design.

10:49
modular platform design and public milestones increase ecosystem trust. Now a lot of this stuff is coming through Project Catalyst. This is the current ecosystem governance tools that we have. a lot of the learnings that came from Project Catalyst, which is kind of like a shark tank within the Cardano ecosystem, is rolling into the budget process here. milestones were a really big key thing within Project Catalyst. So that way you get

11:18
paid every milestone as opposed to lump sums. So I thought that was a brilliant idea. And then having it all on chain and making it public as well makes it really easy to see and accountable for all those projects that doing things. So it’s a nice extra layer. But overall, I thought this was quite a detailed discussion that was had.

11:40
And if you want to go through all of these show notes here, I’ll put it down a link down below on the learnkandano.io website. You can find a little bit more about it and get a better understanding of what was talked about. Now, there was one other thing about Project Catalyst as well, which was not really highlighted in these notes, but the Project Catalyst team will be looking into pulling in some extra funding. Here we go. Three new funding rounds of 20 million ADA each.

12:08
And that will keep that shark tank project callous side of things going through the ecosystem. So I’m really happy about that because this is mainly where I get funding from for the various projects that I work on, which are very small. They’re not huge projects like the ones that we’re seeing going through the budget. And, you know, I only pull through like $12,000 or something through project callous. So hopefully this one gets pushed through. I’m sure it will be. And a lot of the smaller projects can get funding through there. So.

12:37
That is an overview of the government side of things, guys. If you want to check out that X space, I will put a link down below to that one as well as you can listen through it and get up to date with all of the budget proposal stuff that’s going on at the moment. If you want to learn how to delegate to a DRep, just search for it on Google. If you can type in and spell correctly, there we go, delegate to a DRep. You should get one of my many tutorials that I’ve put out there.

13:07
So, uh, DRep tools, detailed instructions there, how to do it in Yoroi, how to do it in Eternal, Lace. It’s all there online. I’ve tried to cover as many wallets and whatever out there to start your journey in the governance space. So, um, there’s a lot of resources. So if you want to learn how to delegate to a DRep, do a quick search and you should be able to find one of my tutorials that I’ve put out there. Now thought this was a really cool update from Sync AI and this is a new project, newish, but they came out late last year.

13:37
I’m building some really interesting stuff, but they’ve put in a brand new governance hub and it’s called sync gov hub. And the idea with this one is that they can organize a way for all the DReps to actually engage and talk to all of their delegates. And this is their platform here. And it’s under the sync AI branding, but sync gov hub.com.

14:05
You can enter in the app, you can see all these stats and statistics about what’s happening within the space. Let me just connect here and you can have a little look into exactly what’s happening. But this is the platform here. I’ve connected my wallet, my DRep wallet, and I can actually now enter in these various groups or you can search for DRep, you can delegate to DRep. There’s lots of things that you can do here. But the cool thing here is that I can start engaging

14:33
with my community, my delegates around who have engaged with me on the platform. Now, the really cool thing that they have here is this budget AI side of things. And this here will give you an idea and answer your questions in regards to the Cardano budget and all these proposals that are going out at the moment. So here I can type in a question and ask the platform to deliver those answers for me. So what is the

15:02
most important proposal to vote on. And the AI platform will analyze its data and give me an answer. So Cardano Core budget proposals and it will explain it to you why you should be voting for this and technical aspects breakdown. It’s really cool. I really do like it. So if you are a DRep yourself, this is a nice tool to be able to use because it’s connected with all the data that’s on

15:32
on the the GovTools website, all those proposals and also integrates in with the various, um, uh, DREPs and explorers and analytics out there. So this platform that the Sync AI team have put together is brilliant. It’s great. Um, absolutely love it guys. So if you are a DREP, if you are voting on your own and you’re not delegated to a DREP, this is a brilliant resource to be able to use.

15:57
that you can make better decisions in regards to voting on these various proposals. So really cool stuff. Sync AI team definitely need more support. So if you want to check out this proposal, give it a go and to start engaging on the platform itself, all the links down below for you guys. Now I mentioned this website a little bit earlier and this is the governance space.com website. It’s a brand new governance website where you can go through and search for DReps, look at governance actions, proposals and all sorts of things.

16:26
Now I do like this website because it’s clean. It’s very simplistic in how it’s been implemented and it is also very fast. So a lot of the other ones a little bit JavaScript heavy takes a little bit of time to load and whatnot. But this one here very clean, very lightweight and I like the speed and zippiness of it. So this one here is brilliant. So if you want to have a look at another view on everything that’s happening in the Kedana ecosystem, because all this is on chain, all these platforms can

16:56
hook into it and start delivering and displaying all the data. And this one here is another nice one to look at. again, links down below for you guys or just go to governance space dot com. So that’s all I got for you guys for this particular Cardano governance update. As you can see, there’s a lot happening at the moment, but I will put all the links to the tutorials in the show notes down below. So if you want to learn how to become a DRep yourself and vote within your own wallet, then you can. All the tutorials are there.

17:23
And if you want to delegate to a DRep, there are plenty of DReps out there looking for support and are willing to do the work to vote on your behalf such as myself. You can find all my DRep details down below in the video show notes too. Now, if you enjoyed the content, just hit that thumbs up, like, subscribe, notification bell on your way out. I’ll keep you guys updated with everything that’s happening in the Cardano space. I’ll see you in the next video.