Cardano Enters New Era Of Governance: Foundation CEO








In a post on X, Frederik Gregaard, CEO of the Cardano Foundation, articulated the imminent advancements towards a decentralized governance structure, marked by the introduction of an interim constitution. This initiative precedes the anticipated Chang hard fork, which will herald the Voltaire era of community-driven governance on the blockchain.

The Interim Constitution For Cardano

Gregaard’s announcement emphasizes the critical role of the interim constitution in transitioning ADA towards full decentralized governance. “Cardano stands at the verge of a new era in decentralized governance. The full constitution is on the horizon, but first comes the interim constitution. This is a foundational framework for our ecosystem,” Gregaard explained.

The interim constitution is portrayed as a reflection of the global community’s values, establishing norms to navigate the complexities of on-chain governance during this transitional period. Gregaard elaborates that the interim document champions “transparency, openness, and responsible decision-making” as its core principles, ensuring every ADA holder’s voice contributes to shaping the future.

One of the notable features of Cardano’s proposed governance model is its inclusivity. Gregaard stated, “Cardano governance is built on inclusion. Every ADA holder, developer, and participant is a community member, entitled to the rights, privileges, and responsibilities that will be outlined in the interim constitution.” This approach intends to democratize the decision-making process, enabling a fair and equitable system where every stakeholder has a say.

The governance structure will involve various community representatives, including delegates (DReps), stake pool operators (SPOs), and members of a constitutional committee. This system of checks and balances is designed to mirror the community’s collective will, ensure adherence to the interim constitution, and safeguard the ecosystem’s integrity.

Chang Hard Fork And Voltaire Era

The upcoming Chang hard fork, set for Q2 2024, marks a significant technological milestone. It will kickstart the Voltaire era, focusing on empowering ADA holders to participate actively in community governance through Cardano Improvement Proposals (CIPs) and Funding Proposals (FPs). These mechanisms will allow the community to make crucial decisions about software updates, technical improvements, and the allocation of funds from the platform’s treasury.

“The era will also play host to a series of experiments, as we discuss topics such as decentralized governance, the dynamics of democracy and consent, evolving Voltaire from research to reality,” as stated on the Cardano Foundations’ official website.

Looking ahead, Gregaard revealed plans for extensive global engagement through workshops and a constitutional convention slated for late 2024. These forums are intended to give the ADA community a significant role in finalizing the governance framework. “The final constitution will be a Cardano community effort […] I see the constitution as a living document, evolving with the Cardano community,” Gregaard emphasized.

These efforts underline the commitment to establishing a robust model for blockchain governance, as reflected in Gregaard’s aspirations for the platform: “Cardano shines as a model of strong blockchain governance. I hope to see you all at the governance workshops.”

At press time, ADA traded at $0.461.

Cardano price
ADA price, 1-week chart | Source: ADAUSD on TradingView.com

Featured image from YouTube / Cardano Foundation, chart from TradingView.com





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