- 에이다 유지보수 및 운영에 대한 제안 에이다의 모든 기능과 혁신은 안정적이고 안전한 플랫폼 기반에 의존하며, 본 제안은 2026년 3분기부터 2027년 1분기까지의 핵심 유지보수 및 운영 지원을 위한 자금을 요청함 .

- 유지보수는 선택 사항이 아니며 버그 수정, 보안 검토, CI/CD, 인프라 운영, 메인넷 모니터링, Cardano Blueprint 문서화 등 9가지 기능 영역을 포괄함 .

- 또한 오픈소스 커뮤니티 지원, 성능 분석 및 최적화, 품질 보증, 노드 릴리스 관리, Plutus Core 및 DB-Sync 등 주요 구성 요소의 유지보수도 포함됨 .

- 이 작업은 네트워크 가동 시간을 보장하고 보안을 강화하는 보호적 가치와 Cardano Blueprint를 통해 대체 노드 구현 장벽을 낮추는 활성화 가치를 동시에 제공함 .

- IO는 인프라 관리를 분산하기 위해 Ensurable Systems와 협력하며, Intersect는 마일스톤 기반 스마트 계약을 통해 자금을 투명하게 관리함 .

- 사용되지 않은 자금은 국고로 반환되며, 요청 금액은 총 ₳62.1M임 .

- ■ 주석 *CI/CD: 지속적 통합 및 지속적 배포 자동화 시스템 **CIP-135: 에이다의 재난 복구 표준을 정의한 개선 제안 ***Cardano Blueprint: 노드 구현을 돕는 독립적인 기술 사양서 ****Plutus Core: 에이다 스마트 계약의 핵심 프로그래밍 언어 *****DB-Sync: 블록체인 데이터를 관계형 데이터베이스로 동기화하는 도구

- 에이다 유지보수 지원에 대한 제안 스테이크 풀 운영자, DApp 개발자, ₳ 보유자를 위해 에이다 플랫폼의 안정성, 성능, 보안을 유지하여 신뢰할 수 있는 생산 등급의 기반을 제공하고자 함 .

- 유지보수 프로그램은 재해 복구, 지식 공유, 보안 검토, Monitoring 및 성능 지표를 포함하며 모든 내용은 투명하게 공개함 .

- 대규모 블록체인 운영에는 기능 개발 이상의 지속적인 유지보수, Testing, 보안 및 Infrastructure 투자가 필수적임 .

- 본 제안은 2026년 하반기부터 2027년 상반기까지 에이다 코드베이스와 Infrastructure에 대한 지속적인 지원을 확보하는 것을 목표로 함 .

- 유지보수 영역은 Node Bugfixing, DevOps, Monitoring, Documentation, Open Source Support, Performance, Quality Assurance, Release 및 Support, Component Maintenance 등 9개 분야를 포괄함 .

- 유지보수는 중단 없이 지속되어야 하며, 이를 통해 기술적 부채를 줄이고 Infrastructure의 회복 탄력성을 유지함 .

- IO는 Ensurable Systems와 협력하여 에이다의 핵심 유지보수 및 운영 Infrastructure를 구축하고 생태계 내 관리 책임을 분산할 계획임 .

- ■ 주석 *Stake Pool Operator: 스테이크 풀 운영자 **DApp: 탈중앙화 애플리케이션 ***Infrastructure: 시스템 운영을 위한 기초 시설 ****Node Bugfixing: 노드 소프트웨어의 오류 수정 *****DevOps: 개발과 운영의 통합 프로세스 ******Monitoring: 시스템 상태 및 성능 감시 *******Quality Assurance: 소프트웨어 품질 보증 ********Plutus Core: 에이다의 스마트 컨트랙트 실행 엔진

- 에이다 유지보수 및 지원 체계에 대한 제안 유지보수는 단순한 기능이 아니라 모든 기능이 의존하는 근간이며, 기존 코드베이스를 보존하고 개선하여 커뮤니티에 효율적인 제품과 서비스를 제공하는 데 집중함 .

- 재해 복구 우선순위 설정을 통해 가동 중지 시간을 최소화하고 비즈니스 연속성을 보장하며, Cardano Blueprint와 보안 검토 및 성능 지표의 투명한 공개를 통해 지식을 공유함 .

- L1, L2, L3 기술 지원과 테스트넷 유지보수를 통해 안정적인 운영을 도모하고, 체계적인 릴리스 주기를 통해 Node 기능의 적시 배포를 보장함 .

- 네트워크 가용성 지속, 온보딩 강화, 높은 트랜잭션 처리량, 예측 가능한 릴리스 주기, 견고한 스마트 계약 실행 환경 제공을 기대 결과로 설정함 .

- 글로벌 Mempool 및 네트워크 모니터링을 통해 실시간 데이터를 제공하고, 보안 위원회와의 협업을 통해 보안 태세를 강화하며 고품질 코드 표준을 유지함 .

- 주요 KPI로 월간 업타임, 트랜잭션 수, 활성 사용자 수(MAU), 거버넌스 참여율, 처리 용량 등을 관리하며 시스템의 신뢰성과 확장성에 기여함 .

- 인프라 우수성, 채택 및 유틸리티, 거버넌스, 생태계 지속 가능성을 주요 기둥으로 삼아 장기적인 네트워크 무결성을 확보함 .

- 2026년 3분기부터 2027년 1분기까지 노드 버그 수정, 아키텍처 검토, DevOps, 성능 최적화, QA 등 유지보수 활동을 병렬적으로 수행함 .

- 총 예산은 ₳62.1M이며, 개발(74%), 인프라(10%), 보안 및 감사(2%), 생태계 지원(6%) 등으로 구성하여 투명하게 집행함 .

- 기술적 리스크와 외부 비용 증가 리스크를 관리하며, 법적 계약 및 스마트 계약 프레임워크를 통해 자금 관리의 규정 준수와 투명성을 보장함 .

- 미집행 자금은 에이다 국고로 반환하며, 모든 결과물은 IPFS에 불변의 형식으로 호스팅하여 검증 가능한 시스템 무결성을 유지함 .

- ■ 주석 *Cardano Blueprint: 에이다 노드 구현을 위한 독립적 사양서 **L1/L2/L3 Support: 기술 지원의 단계별 전문성 수준 ***Mainnet: 블록체인 네트워크의 실제 운영 환경 ****DApp: 탈중앙화 애플리케이션 *****Mempool: 확정 전 트랜잭션이 대기하는 공간 ******CI/CD: 지속적 통합 및 지속적 배포 자동화 시스템 *******Plutus: 에이다의 스마트 계약 플랫폼 및 언어 ********KPI: 핵심 성과 지표 *********TVL: 총 예치 자산 규모 **********DRep: 위임 대표자 ***********SPO: 스테이크 풀 운영자 ************UTxO: 미사용 트랜잭션 출력값 *************IPFS: 분산형 파일 저장 시스템 **************Node: 블록체인 네트워크 참여 소프트웨어 ***************CLI: 명령줄 인터페이스 ****************API: 애플리케이션 프로그래밍 인터페이스

**Proposal as pdf: [https://ipnso-com.ipns.dweb.link/?cid=QmYKV7vbX9pwNxst2qWpmtM2k6LRJB4NKKNFJSQyh7zojz](https://ipnso-com.ipns.dweb.link/?cid=QmYKV7vbX9pwNxst2qWpmtM2k6LRJB4NKKNFJSQyh7zojz)**

Every feature, upgrade, and innovation proposed for Cardano depends on a stable, secure, and well-maintained platform underneath. This proposal funds that foundation — continuous core maintenance and operational support from Q3 2026 through Q1 2027.

Maintenance is not discretionary. It covers nine functional areas that together constitute the full support envelope for Cardano: bug fixing and security reviews, CI/CD and infrastructure operations (including disaster recovery per CIP-135), mainnet and mempool monitoring, the Cardano Blueprint documentation project, open-source community support, systematic performance analysis and optimization, quality assurance and release sign-off, full node release management with L1/L2/L3 incident response, and component maintenance across Plutus Core, DB-Sync, guardrails scripts, APIs, and CLI tools.

The value is both protective and enabling. On the protective side, this work ensures network uptime, swift incident resolution, and proactive security hardening through collaboration with the Intersect Security Council. On the enabling side, it delivers the Cardano Blueprint — implementation-independent specifications that lower the barrier for alternative node implementations — and continuous performance optimization that safeguards throughput gains and release quality. IO is collaborating with Ensurable Systems to distribute infrastructure stewardship. Intersect administers funds through milestone-based smart contracts with independent third-party assurance and transparent on-chain dashboards. Unspent funds return to the Treasury.

**Treasury Ask:** ₳62,134,630

***As a stake pool operator, DApp developer, or ada holder, I want the Cardano platform to remain stable, performant, and secure with predictable release cycles, so that I can rely on it as a production-grade foundation for my operations and applications.***

***A well-maintained Cardano delivers the availability, reliability, and security that operators, developers, and users depend on. Our maintenance program covers disaster recovery, knowledge sharing (including the Cardano Blueprint), security reviews, monitoring data, and performance metrics — all published transparently.***

**Opportunity:** Operating a production blockchain at Cardano’s scale requires continuous investment in maintenance, testing, security, and infrastructure that goes far beyond feature development. Sustained maintenance keeps the codebase modern, secures the platform proactively, preserves performance gains, and gives the release process its predictability. Every other initiative within the ecosystem depends on this foundation: new features can only be safely delivered on a well-maintained platform.

**Solution:** This proposal secures continued support for the Cardano codebase and infrastructure for the second half of 2026 through the first half of 2027. It covers nine functional areas that together constitute the complete maintenance and support envelope for Cardano:

* Node Bugfixing and Architecture: Timely issue resolution, hot fixes, and architectural security reviews.
* DevOps and Infrastructure: CI/CD system maintenance, OS/platform compatibility, Haskell compiler and tooling support, disaster recovery per CIP-135, bootstrap relay operations, and testnet maintenance.
* Monitoring: Mainnet monitoring for oversight and community, plus global mempool monitoring for congestion data, fee estimation, and evidence-based decision-making.
* Documentation: Cardano Blueprint comprehensive specifications covering consensus, network, ledger, and Plutus in an implementation-independent manner.
* Open Source Support: GitHub issue triage, response, and assignment, plus review and integration of external code contributions.
* Performance: Systematic ledger performance analysis and improvements, system-level node optimizations (block production, diffusion, timeliness), benchmarking at integration level to safeguard releases and hard forks, and distributed cluster operations.
* Quality Assurance: Unit and property test maintenance, E2E testing framework and execution with release sign-off, conformance testing,internal pen-testing as appropriate, and ledger testing strategy improvements. AI-supported analysis and quality assurance is incorporated into execution strategy at IO
* Release and Support: Full Node release process (integration, build, test, release, documentation, communications), L1/L2/L3 incident management with on-call support, and Cardano API/CLI maintenance.
* Component Maintenance: Plutus Core interpreter and language version updates, DB-Sync consistency, Cardano High Assurance tools, DB Synthesizer, third-party libraries (libsodium), code modernization, technical debt reduction, guardrails and CC identity script maintenance.

**Why now:** Maintenance is continuous and non-discretionary. The platform requires uninterrupted support regardless of the feature development cycle. Continuous maintenance coverage prevents risk from compounding — it keeps bugs from escalating, ensures every release is tested, and maintains the infrastructure's resilience. This proposal covers the period immediately following the current budget cycle.

**Ecosystem Collaboration:** IO is collaborating with Ensurable Systems to deliver and sustain Cardano’s core maintenance and operational infrastructure, combining IO’s deep protocol knowledge with Ensurable’s specialist capabilities as part of a broader commitment to distributing infrastructure stewardship across the Cardano ecosystem.

### **Proposed Value Delivered (Why)**

**Maintenance is not a feature. It is the foundation that every feature depends on.**

Our maintenance efforts focus on preserving and enhancing the existing codebase, ensuring the community benefits from modern, efficient products and services. We prioritize disaster recovery to minimize downtime and ensure business continuity. We are committed to preserving and sharing the valuable knowledge the community and builders directly benefit from, including the Cardano Blueprint and transparent publication of security reviews, monitoring data, and performance metrics.

Support for various levels of technical expertise (L1, L2, L3) and testnet maintenance ensure smooth operation and continuous improvement. A well-structured and transparent release cycle and communications guarantee a timely and structured rollout of Node features and other deliverables.

A well-maintained and supported Cardano ensures the overall health, availability, and reliability that are paramount for providing a stable and secure foundation. This directly benefits the community, users, operators, and products and services interacting with Cardano.

#### Expected Outcomes

* Continuous Network Availability: Robust bugfixing and disaster recovery ensure Mainnet remains resilient against critical failures and forks.
* Enhanced Onboarding and Portability: Cardano Blueprint provides implementation-independent specifications that lower the barrier to entry for new builders and alternative node implementations.
* Reliably High Transaction Throughput: System-level node and ledger optimizations lead to improved resource usage, faster block diffusion, and validation.
* Predictable Release Cycles: A well-managed release process supported by CI, E2E, and performance testing ensures stable and vetted feature updates.
* Robust Smart Contract Execution: Plutus interpreter maintenance provides developers with a higher-performing and reliable environment for cost-efficient DApp execution.
* Data-Driven Decision Making: Global mempool and network monitoring provide stakeholders with real-time congestion and performance data for fee estimation and infrastructure planning.
* Hardened Security Posture: Proactive architectural reviews and collaboration with the Security Council ensure swift threat identification and mitigation.
* High-Quality Code Standards: Systematic peer reviews of open-source contributions and technical debt reduction ensure a modern, maintainable codebase.
* Reliable Testing Environments: Continuous testnet maintenance allows developers to experiment and validate in a safe, production-like environment.
* Accelerated Incident Resolution: Structured L1/L2/L3 support ensures issues are triaged and resolved swiftly, maintaining ecosystem confidence.
* Verifiable System Integrity: Advanced tracing, logging, metrics, and conformance testing provide the observability required to verify system behavior matches specification.

#### **KPIs**

| Core Cardano 2030 KPIs (Adoption) | Alignment | KPI Alignment Narrative |
| :---- | :---- | :---- |
| **TVL** | N/A | |
| **Monthly Transactions** | Yes: Partially | System health, reliability, performance, and scalability are all core concerns for Maintenance and are a prerequisite for increasing monthly on-chain activity. |
| **Monthly Active Users (MAU)** | Yes: Partially | System health, reliability, performance, and scalability are all core concerns for Maintenance and are a prerequisite for increasing monthly on-chain activity. |

#### **Additional KPIs**

| Additional Cardano 2030 KPIs (Adoption) | Alignment | KPI Alignment Narrative |
| :---- | :---- | :---- |
| **Reliability: Monthly Uptime (6 epochs)** | Yes: Fully | Effective maintenance directly affects system health and reliability. This is the primary KPI this proposal underpins. |
| **Operational Resilience: Voting Power Distribution** | N/A | |
| **Operational Resilience: Alternative Full Node Clients** | Yes: Partially | Documenting and sharing knowledge as well as existing tooling enables building diverse Node implementations. The Cardano Blueprint is a key enabler. |
| **Revenue / Adoption: Annual Protocol Revenue** | Yes: Partially | Maintenance indirectly impacts the conditions guaranteeing steady, reliable protocol revenue. |
| **Governance: DRep Participation Rate** | Yes: Fully | Maintenance guarantees the technical base for DRep participation and scaling thereof, and impacts the UX for the DRep role. |
| **Scalability: Throughput Capacity per day** | Yes: Partially | Effective maintenance directly impacts network scalability through performance analysis, optimization, and benchmarking. |

#### **Pillars**

| Cardano 2030 Pillars | Alignment | Pillar Alignment Description |
| :---- | :---- | :---- |
| **Pillar 1: Infrastructure & Research Excellence** | Yes, Fully | Effective maintenance directly affects network safety and performance. This is the primary pillar this proposal serves. |
| **Pillar 2: Adoption & Utility** | Yes, Partially | Maintenance impacts general UX through documentation and tooling, as well as enterprise-grade security through architectural reviews and audit support. |
| **Pillar 3: Governance** | Yes, Partially | Maintenance impacts governance UX through tooling, CLI, and API support, as well as guardrails and CC identity script maintenance. |
| **Pillar 4: Community & Ecosystem Growth** | N/A | |
| **Pillar 5: Ecosystem Sustainability & Resilience** | Yes, Fully | Effective maintenance directly affects network integrity and operational resilience. Maintenance is the primary contributor to long-term infrastructure health. |

### **3. Deliverables & Milestones**

All deliverables in this proposal are continuous - they run for the full duration of the funded period. They are grouped by the functional areas below. There is no sequential phasing or quarterly gating: maintenance activities are ongoing and parallel.

#### **Continuous Deliverables (Q3 2026 to Q1 2027\)**

| Functional Area | Item Description |
| :---- | :---- |
| **Node Bugfixing** | Timely address, test, and deploy both regular and hot fixes. |
| **Architecture** | Review designs and implementations for security issues. |
| **Delivery** | Report on development updates publicly and to Intersect. |
| | **DevOps** |
| **DevOps** | Maintenance and operations of CI/CD system for testing, integration, building and release. Adjustments guaranteeing consistent behaviour given OS, platform or environment updates. Haskell compiler and tooling support. Disaster Recovery: maintaining a playbook and guaranteeing swift execution as per CIP-135. Bootstrap relay operations in support of Mainnet. Maintenance of various testnets |
| | **Monitoring** |
| **Monitoring** | Provide Mainnet monitoring to be used by oversight and the community. Global mempool monitoring to obtain network and congestion data, efficient fee estimation and provide evidence enabling decision-making by users and stakeholders. |
| **Documentation** | Create and maintain Cardano Blueprint comprehensive specifications and documentation external to the codebase. |
| | **Open Source** |
| **Open Source** | Monitor, triage, respond and assign issues reported via GitHub. |
| | **Performance** |
| **Performance** | Systematic ledger performance analysis and improvements. Benchmarks and performance analysis for Cardano at system integration level, safeguarding releases, features and hard forks. System-level optimizations targeting resource usage, block production, diffusion and adoption as well as timeliness. Tracing: maintain and improve the Node’s tracing, logging and metrics systems providing observability. Cluster operation: maintain distributed clusters to deploy, execute and analyze system benchmarks. |
| | **QA** |
| **QA** | Unit and property test maintenance and improvements. E2E testing framework maintenance and execution, including test report generation and release sign-off. Conformance testing, ensuring consistency of specified and observed system behaviour. Ledger: improve robustness and coverage of ledger testing strategy. |
| | **Release, Support & Security** |
| **Release** | Managing and executing the Cardano Node release process, integrations and documentation. |
| **Support** | L1, L2, L3 incident management and reporting procedures, including on-call support for critical incidents. |
| **Security** | Support Intersect Security Council for Mainnet security by means of swift threat identification and mitigation as well as a regular cadence of security audits. |
| | **Components** |
| **Components** | Code modernization: update code base for new compiler and library versions. Tech Debt: maintain and fix third-party libraries required by Cardano (e.g. libsodium). Tech Debt (Ledger): address existing tech debt within the ledger codebase. DB-Sync: maintain consistency with new Node versions and address issues. Plutus Core: update Plutus interpreter, internals, and language versions, provide performance improvements, address bug reports, and minor feature requests. Cardano High Assurance tools: maintenance, bug fixes. DB Synthesizer: maintain and update the db-synthesizer tool. Maintain and update both on-chain guardrails and the guardrails script. Maintain and update CC identity script. Cardano API maintenance, ensuring consistency with ledger and consensus protocols. Cardano CLI maintenance, improvement of command structure and coverage as well as consistency with ledger and consensus. Maintain CDDL specifications in accordance with associated implementations. |

#### **Resources**

Delivery is supported by a cross-functional team spanning all nine component areas — including engineering, DevOps, QA, performance, security, documentation, and release management — plus dedicated infrastructure (AWS).

#### **Budget**

**Total Treasury Ask:** ₳62,134,630

| Funding Distribution | | |
| ----- | ----: | :---: |
| **Development** | ₳45,979,626 | 74% |
| **Infrastructure** | ₳6,213,463 | 10% |
| **Security & Audits** | ₳1,242,693 | 2% |
| **Legal & Compliance** | ₳621,346 | 1% |
| **Engagement & Ecosystem support** | ₳3,728,078 | 6% |
| **Operations & Delivery** | ₳2,485,385 | 4% |
| **Governance** | ₳621,346 | 1% |
| **Others** | ₳1,242,693 | 2% |

**Pricing Principles**: IO is requesting funding in ADA and has provided USD figures as a reference. A portion of the funding shall be specifically tied to demonstrating measurable impact on Cardano's KPIs and pillars

* **Personnel & Delivery**: Majority of costs needed to fund the delivery resources
* **Ecosystem support, Audit, Assurance & Contingency**: Leadership, ecosystem, and delivery to support execution and wider alignment. Independent work assurance and audits, plus contingency to account for complexities during execution

#### **Risks**

| Type | Description | Likelihood | Severity / Impact |
| :---- | :---- | :---- | :---- |
| **Technical** | Increased maintenance burden from new features delivered by other proposals (Leios, Peras etc.) consuming more capacity than budgeted. | **Medium** | Medium: Manageable through prioritization, but could delay lower-priority items like tech debt reduction. |
| **External** | Infrastructure costs increase beyond budget due to cloud provider pricing changes or increased testnet/monitoring requirements. | **Low** | Medium: Significant increase will need to be funded from this request and pulled from other costs. |

### **Treasury Governance & Compliance**

#### **Contract Management**

A written off-chain Legal Contract will be created between Input Output and the Cardano Development Holdings (CDH), as mandated by the Constitution, and will be administered by Intersect. This will include details of the project delivery schedule and dispute resolution.

##### Project Delivery

All milestones, acceptance criteria, payment amounts and expected delivery dates will be agreed between the Input Output and Intersect, acting on behalf of the CDH. Input Output will deliver according to the agreed-upon project schedule within the Legal Contract, of which the necessary information will be made public via the budget management platform via transaction metadata.

Defined by the milestones within a Legal Contract, Input Output will submit and attest milestone acceptance to the community, Intersect or 3rd Party Assurer.

Project progress will be monitored via Intersect's delivery assurance function which will be communicated to the community.

Acceptance of the work will be supported by a 3rd Party Assurer, who will be responsible for reviewing and signing off the work completed at each project milestone against the corresponding milestone deliverables detailed within the Legal Contract. This work is funded from a portion of this treasury withdrawal.

#### **Auditable Accounts & Fund Delegation**

##### Budget Management Tooling

To administrate treasury funds on-chain, Intersect will utilize the treasury management smart contract framework developed by Sundae Labs. The smart contracts have been extensively tested including audits from TxPipe and MLabs.

Final mainnet validation test can be seen via the Disburse action within transaction: 0f591dc544ae14102dbb4a74d5311a6acffc1772b163d8b7a9656b9525950b17

This withdrawal will utilise Intersect’s 2025 treasury reserve contract with address being: stake17xzc8pt7fgf0lc0x7eq6z7z6puhsxmzktna7dluahrj6g6ghh5qjr
Funds will later be migrated to a 2026 treasury reserve contract once established.

##### Budget Management Specifics

Intersect will utilize a single Treasury Reserve Smart Contract (TRSC), with many Project-Specific Smart Contracts (PSSC), managed by Intersect. Intersect's management consists of three 'admin' and two Intersect 'leadership' roles. An Oversight Committee consisting of five external, independent third-party entities will provide checks and balances on Intersect, and safeguard against errors and unilateral control. The administration of both TRSC and PSSCs will be managed by Intersect, with external oversight on certain actions from the Oversight Committee.

The 2025 TRSC Oversight Committee consists of Sundae Labs, Cardano Foundation, Dquadrant, Xerberus and NMKR. Their role is to independently verify key administrative actions using on-chain logic, ensuring accuracy and consistency without exercising discretion over governance decisions.
For all details on Intersect's configuration please see the [Smart Contract Guide](https://admin-services.docs.intersectmbo.org/governance/smart-contracts) on the knowledgebase.

The high level permissions are as follows:

* TRSC Fund and PSSC Modify
* Two of the three Intersect admins, two of the five trusted entities and one of the two Intersect leadership sign-off must authorize
* TRSC Disperse
* Two of three Intersect admins, three of five trusted entities and two of two Intersect leadership sign-off must authorize
* TRSC Pause and Resume
* Two of three Intersect admins, and one of two Intersect leadership sign-off must authorize
* TRSC Sweep
* One of three Intersect admins, and one of two Intersect leadership sign-off must authorize
* TRSC Reorganize
* Two of three Intersect admins and three of five trusted entities must authorize

##### Processes

Upon enactment of this governance action, funding for this project will be directed into the TRSC's stake account. All instances of TRSC and PSSC can not be staked with a SPO and will be delegated to the auto-abstain predefined DRep. From here funds will be withdrawn into a UTxO remaining at the TRSC.

When a 2026 TRSC is established, the funding for this project will be migrated via the ‘disburse’ action.

When the Legal contract is prepared and Input Output is ready, funding for this project will be transferred using the Fund action to a PSSC. All milestones will be outlined within the metadata.

A dashboard will be available for the community to audit the TRSC or PSSC and track metrics related to this withdrawn ada as well as being immutably verifiable on chain.

#### **Funding Denomination**

All amounts in this proposal are denominated in ada (₳). The total Treasury ask is ₳62,134,630. USD figures ($14,912,311) are provided for reference only, based on an ADA/USD rate of 0.24.

#### **Refund Conditions**

All funds not disbursed by the end of the delivery period will be returned to the Cardano Treasury. A final reconciliation will be published as part of the oversight reporting cycle. In the event of partial delivery or scope reduction, unspent funds associated with cancelled or reduced deliverables will be returned proportionally.

#### **Prior Treasury Receipts**

IO and its affiliated entities has been accountable for delivery of work funded by the Cardano Treasury. The total funds allocated has been ₳130,708,860 across a number of projects within Treasury Smart Contract, to date IOG has withdrawn ₳78,459,777.

| Workstream | Ada received | % of allocation | Corresponding Governance Action |
| :---: | :---: | :---: | :---: |
| Blockfrost | ₳1,137,500 | 88% | 8ad3d454f3496a35cb0d07b0fd32f687f66338b7d60e787fc0a22939e5d8833e#2 |
| Catalyst | ₳3,095,400 | 60% *\* | 8ad3d454f3496a35cb0d07b0fd32f687f66338b7d60e787fc0a22939e5d8833e#23 |
| IOE | ₳47,159,487 | 49% | 8ad3d454f3496a35cb0d07b0fd32f687f66338b7d60e787fc0a22939e5d8833e#1 |
| IOR | ₳26,840,000 | 100% | 8ad3d454f3496a35cb0d07b0fd32f687f66338b7d60e787fc0a22939e5d8833e#32 |
| Governance | ₳227,390 | 38% | 8ad3d454f3496a35cb0d07b0fd32f687f66338b7d60e787fc0a22939e5d8833e#22 |

*\*Note: for Catalyst this only reflects the workstream that focuses on the Hermes Infrastructure and UX/UI improvements, not the execution and operation of Funds 14-16. Per [Info Action](https://explorer.cardano.org/governance-action/gov_action1k5vwlfrxtyusd2ec37tckd54gjvqn2kd72xj4t6wkkapdv7zfg0qq468n2r) this is in the process of transitioning to Cardano Foundation.

#### **Net Change Limit Compliance**

The requested amount does not at time of submission, on its own or in aggregate, breach the applicable [350M Net Change Limit](https://explorer.cardano.org/governance-action/gov_action1m3xx08yv788vfxqh6nfvrjtvmqpwezsy0ggaczctkyjmttc2wmxsq4jsr7q) covering Epoch 613 to Epoch 713.

In accordance with the guardrail *TREASURY-02a*, this withdrawal does not exceed the NCL at the moment of submission.

#### **Audit & Oversight**

Audit and oversight costs are included within the overhead applied to this proposal. The Intersect administration fee covers administrative oversight and is reflected within the cost of this proposal. Independent oversight will be provided through Intersect and technically capable third-party, including reporting obligations and milestone-based disbursement controls.

#### **Standardized Format & Immutable Hosting**

Upon finalization, this proposal will be hosted on IPFS in an immutable format. The blake2b-256 hash of the document will be provided for on-chain reference and verification.