- 본 재무부 인출 자금은 Se7en Labs, Inc.가 수행하는 2026–2027년 Daedalus Wallet 유지보수 및 개선에 사용됨.

- Daedalus는 Cardano의 유일한 풀 노드 데스크톱 지갑으로, 내장된 Cardano 노드를 실행하며 제3자 API나 신뢰할 수 있는 백엔드 없이 체인에서 직접 모든 지갑 및 거버넌스 데이터를 가져옴.

- P2P 네트워킹에 참여하고 자체 로컬 mempool을 유지하므로, Daedalus 트랜잭션은 풀 노드 참여자와 동등한 조건에서 블록 포함을 위해 경쟁하며, 라이트 지갑이 몇 시간 동안 실패할 수 있는 높은 체인 활용도 상황에서도 안정적인 제출을 제공함.

- Daedalus의 보안 모델은 독특하며, 개인 키는 사용자 기기에서 생성 및 저장되고 외부 서비스로 전송되지 않음.

- Apache License 2.0에 따른 오픈 소스이므로 누구나 소스 코드를 감사하여 키 처리가 설명대로 작동하는지 확인할 수 있음.

- Se7en Labs는 풀 노드 지갑 운영의 트레이드오프 사이에서 긍정적인 사용자 경험을 보장하기 위해 노력함.

- 선택적 텔레메트리에 따르면 Daedalus는 약 4,000명의 월간 활성 사용자를 보유하고 있으나, 개인정보를 중시하는 풀 노드 사용자는 텔레메트리 참여 가능성이 낮아 실제 수치는 훨씬 높음.

- 본 제안은 시간 및 자재 투입 방식(T&M)으로 다음 세 가지 영역을 다룸: 1. 프로토콜 유지보수: 노드 업그레이드, 하드 포크 대비(Leios, Peras, Nested Transactions), 메인넷 하드 포크 최소 2주 전 호환 릴리스 제공.

- 2. 생태계 확장: Keystone 및 Flex 하드웨어 지갑 지원, CIP-30 dApp 커넥터, 일본어 현지화.

- 3. 사용자 지원: Daedalus 사용자 기반에 대한 대응형 지원, 일본 커뮤니티에 대한 전담 지원 및 일본어 번역 유지.

- IOG는 자금 조달이 재무부로 전환됨에 따라 암호화 릴리스 진위 확인을 위한 바이너리 서명을 계속 지원함.

■ 주석
*Full-node: 블록체인의 전체 기록을 저장하고 검증하는 노드
***CIP-30: Cardano dApp과 지갑 간의 통신을 위한 표준 인터페이스

- Daedalus는 생태계 내 유일한 풀 노드 데스크톱 지갑으로서 네트워크의 탈중앙화와 회복탄력성에 직접 기여함.

- 클라이언트 다양성(Client Diversity)을 지원하여 비기술적 사용자가 풀 노드를 운영할 수 있는 주요 수단이 됨.

- Leios(CIP-0164) 및 Peras와 같은 합의 프로토콜 변경 사항에 대응하여 적시에 노드 업그레이드를 제공함으로써 확장성 및 상호운용성을 지원함.

- CIP-30 지원을 통해 Daedalus 사용자가 브라우저 지갑으로 전환하지 않고도 DeFi 및 dApp 생태계에 접근할 수 있도록 함.

- 2030 전략의 핵심인 일본 시장과 같은 고영향력 시장에서의 현지화된 채택을 지속함.

- 2030년까지 월간 활성 사용자(MAU) 100만 명 및 월간 트랜잭션 27M 달성이라는 KPI 목표에 기여함.

■ 주석
*DRep: Cardano 거버넌스에서 투표권을 위임받은 대리인
***DeFi: 탈중앙화 금융

- Se7en Labs는 DripDropz 출시, Hydra 데모 참여, Cardano Product Committee 활동 등 풍부한 경험을 보유함.

- 2026년 1월부터 IOG 계약 하에 Mithril 스냅샷 부트스트랩, UTxO-HD/LSM 백엔드 통합, Apple Silicon 지원 등 기술적 성과를 달성함.

- Daedalus의 기능성, 보안성, 프로토콜 호환성을 유지하기 위한 노드 및 지갑 백엔드 업데이트, 보안 패치, 하드 포크 통합 등을 수행함.

- ADA/USD 환율 변동성, 프로토콜 변경 사항 등 잠재적 위험에 대해 T&M 계약 방식과 IOG와의 협력을 통해 대응함.

- 모든 릴리스 타이밍 및 버전 호환성 지표는 공개 GitHub 저장소와 Cardano 메인넷 체인을 통해 독립적으로 검증 가능함.

- Intersect가 관리자 및 독립적 마일스톤 검증자 역할을 수행하며, 자금은 검증된 작업에 대해 월 단위로 지급됨.

■ 주석
*T&M: 시간 및 자재 투입 방식(Time and Materials)
***Nix: 소프트웨어 패키지 관리 및 빌드 시스템

Daedalus is Cardano's only full-node desktop wallet — it runs an embedded
Cardano node and derives all wallet and governance data directly from the
chain, with no third-party APIs or trusted backends. Because it participates
in P2P networking and maintains its own local mempool, Daedalus transactions
compete for block inclusion on equal footing with full-node participants,
providing reliable submission even under high chain utilisation where lite
wallets can fail for hours.

Daedalus's security model is equally distinctive. Private keys are generated
and stored on your own device and never transmitted to any external service.
Because Daedalus is open-source under the Apache License 2.0, this is not
a claim users must take on faith — anyone can audit the source code to
verify that key handling works exactly as described. Se7en Labs actively
works to ensure a positive user experience that balances the trade-offs
inherent in running a full-node wallet.

According to opt-in telemetry, Daedalus has approximately 4,000 monthly
active users — though the true count is meaningfully higher, as
privacy-conscious full-node users are the least likely to opt in.

This is a time and materials engagement covering three areas:
1. **Protocol Maintenance** — Node upgrades, hard fork readiness (Leios,
Peras, Nested Transactions), with a compatible release at least 2
weeks before every mainnet hard fork
2. **Ecosystem Expansion** — Keystone and Flex hardware wallet support,
CIP-30 dApp connector, Japanese localisation
3. **User Support** — Responsive support for the Daedalus user base,
with dedicated attention to the Japanese community and a commitment
to keeping Daedalus fully translated for Japanese users

IOG continues to support binary signing, ensuring cryptographic release
authenticity as funding transitions to the treasury.

The Cardano Vision & Strategy framework (ratified on-chain by DRep
supermajority, January 2026) calls for Cardano to "keep Cardano secure,
fast, and interoperable so it can host more economic activity." Daedalus
is the only full-node desktop wallet in the ecosystem — every installation
is a full Cardano node, contributing directly to the decentralization and
resilience of the network.

This proposal directly advances **I.2 (Security & Resilience)**,
specifically the strategy's focus on *client diversity*: "Support
additional full-node and light-client implementations with conformance
testing — Better decentralization." Daedalus is the primary vehicle
through which non-technical users run a full node. A maintained Daedalus
is a maintained contribution to client diversity. If it falls behind on
protocol compatibility, OS support, or security, those users have no
alternative that preserves their standards for self-sovereignty.

This proposal also supports **I.1 (Scalability & Interoperability)** by
ensuring Daedalus ships updated node versions as Leios (CIP-0164) and
Peras progress toward mainnet. Both are consensus protocol changes
handled by the node — but a wallet running an incompatible node version
cannot sync, meaning timely node upgrades are essential for Daedalus
users to benefit from the scalability improvements the strategy depends
on.

**Pillar 2: Adoption & Utility (Secondary)**

CIP-30 support advances **A.1 (High-Value Verticals)** — specifically
DeFi access. Daedalus users are currently locked out of DeFi and dApp
interactions unless they switch to a browser wallet. CIP-30 changes that,
opening the full dApp ecosystem to full-node users without compromising
their trust model.

This also supports **A.3 (Developer Experience)**: "Incentivize the
maintenance of core Cardano SDKs, frameworks, and infrastructure in line
with open-source best practices." Daedalus is foundational open-source
infrastructure. Funding its maintenance through the community treasury is
exactly the model the strategy envisions.

**Pillar 4: Community & Ecosystem Growth (Secondary)**

The 2030 strategy identifies **C.2 (Global Engagement & Market Adoption)**
with a specific focus on "localized adoption — target specific,
high-impact markets (e.g., LATAM, Africa, East Asia) with localized
partnerships and communication strategies." Japan is one of the most
historically engaged Cardano communities in the world, and Daedalus has
maintained full Japanese translation support since its earliest releases.
This proposal continues that commitment, ensuring the Japanese-language
interface remains current across all new features delivered during the
contract period.

### KPI Alignment

**Monthly Active Users (MAU) — Target: 1M by 2030**

The strategy measures MAU as "unique addresses with transactions over a
30-day window." Every active Daedalus user contributes to this metric.
Keeping Daedalus fast to sync (Mithril), compatible with modern hardware
(Apple Silicon), and current on dependency versions lowers the barrier to
running a full node, directly supporting MAU growth from the self-sovereign
user cohort. CIP-30 support unlocks dApp interactions for this population,
increasing their transaction frequency.

**Monthly Transactions — Target: ≥27M submitted transactions/month by 2030**

CIP-30 support routes dApp transaction volume through users' own full
nodes. Daedalus users currently have no path to dApp activity without
switching wallets — CIP-30 unlocks that entirely, contributing new
transaction volume from a population that previously had none.

**Alternative Full Node Clients — Target: ≥2 live, spec-conformant**

The strategy explicitly tracks this under operational resilience. While
Daedalus is a wallet rather than a consensus node, it is the primary
mechanism through which non-technical users run a full Cardano node.
Maintaining Daedalus directly supports the ecosystem's full-node
footprint and the decentralization targets the strategy depends on.

**Uptime / Protocol Stability — Target: 99.98% uptime**

Shipping a compatible Daedalus release before each hard fork keeps users
online through protocol transitions rather than forcing them offline.

**Hardware Wallet Coverage**

Supporting newer hardware wallet models grows the population of
security-conscious ADA holders who can use Daedalus without compromising
their signing security.

| Pillar | Alignment |
|---|---|
| I.1 Scalability & Interoperability | Timely node upgrades for Leios, Peras, and Nested Transactions |
| I.2 Security & Resilience | Client diversity; every Daedalus install is a full Cardano node |
| A.1 High-Value Verticals | CIP-30 unlocks DeFi and dApp access for full-node users |
| A.3 Developer Experience | Maintenance of foundational open-source infrastructure |
| C.2 Global Engagement | Japanese localisation and community support maintained |

### Nature of This Proposal

Daedalus is free and open-source software released under the Apache
License 2.0. Se7en Labs does not monetize Daedalus usage and captures no
customer relationships, subscription revenue, token value, or IP
exclusivity from this work. All funded outputs — source code, build
tooling, documentation, and release artifacts — are public assets in
perpetuity, forkable by anyone under the Apache 2.0 license. This
proposal is a pure public good grant: the treasury is funding maintenance
of community infrastructure, not subsidizing a private business expansion.

Open-source auditability is especially important for a wallet. Any wallet
can claim not to exfiltrate keys; only an open-source wallet can prove it.
The Apache 2.0 license ensures this auditability is permanent: no future
license change can prevent the community from inspecting, forking, or
continuing the software independently. A treasury-funded wallet under a
permissive open-source license is a public good in the strongest sense —
the community owns it regardless of what happens to any particular vendor.

### Track Record

**About Se7en Labs**

Se7en Labs is a Cardano-native software company. Founding members launched
DripDropz in 2022 — the token distribution platform that has delivered
community token drops every epoch since launch. Members contributed to
the Hydra Doom demonstration and built a live Hydra event platform deployed
at Rare Evo, Token 2049, Cardano Summit Berlin, and Nuluna 2025. Se7en
Labs members served as chair and vice-chair of the Cardano Product
Committee, leading the process that produced the Cardano Vision and
Strategy framework — ratified on-chain by a DRep supermajority in January
2026.

**Daedalus Delivery Record**

The team assumed responsibility for Daedalus under an IOG contract in
January 2026. Shipped since then:

- **Mithril Snapshot Bootstrap**: Full Mithril integration for fast initial
sync — 3-step UX, storage management, fallback flows, E2E test coverage,
cross-platform installer hardening across Windows and macOS
- **UTxO-HD / LSM Backend**: Integrated cardano-node 10.7.1 with the LSM
storage backend, preparing users for Cardano's on-disk UTXO model
- **Apple Silicon (aarch64)**: First native aarch64 Darwin builds with
auto-detection in the updater; existing users migrate transparently
- **`drt` Release CLI**: Purpose-built release toolchain replacing Buildkite
scripts — Apple notarization via `xcrun notarytool`, parallelized signing,
internal Windows binary signing before NSIS packaging, hash verification
- **Nix Build Modernization**: Migrated to flake-parts, upgraded to
nixpkgs-25.11, removed legacy MacInstaller.hs, migrated CI from Buildkite
to Hydra + `drt`

In progress: DRep Selection Dashboard, Ouroboros Genesis support, hardware
wallet support for newer devices, Electron upgrade (17 major versions;
resolving cross-platform native module complexity), and partial Mithril sync
(allowing Daedalus to begin syncing from a Mithril snapshot mid-chain rather
than requiring a full resync).

**Proven Capabilities**

The team spans Haskell/cardano-node integration, Electron/React frontend,
Nix build systems, release engineering, and QA — the full breadth needed
for Daedalus's complexity. Team members have direct experience with
cardano-node and the on-chain governance stack. The team inherited a
codebase unable to produce a release, performed foundational Nix
refactoring, and shipped Daedalus 8.0 and 11.0 within the IOG contract
period. Daedalus 11.0 was the first wallet capable of crossing the node
11.0 hard fork. The ongoing IOG binary signing
arrangement demonstrates a mature working relationship preserving release
security through the funding transition. The team has been operating under
an IOG contract for Daedalus maintenance since January 2026, closing
August 31, 2026. Se7en Labs has not received ada from the Cardano Treasury
within the last 24 months.

### Scope of Work

This work covers all maintenance and development required to keep Daedalus
functional, secure, and compatible with the evolving Cardano protocol
throughout the contract year.

**Node & Wallet Backend Currency** — Integrate cardano-node and
cardano-wallet releases as shipped; maintain Nix build infrastructure,
dependency updates, security patches, and platform compatibility.

**Security & Dependency Maintenance** — Keep Electron, Node.js, and all
wallet-adjacent dependencies current to address known vulnerabilities as
they are disclosed. Maintain a reproducible Nix build pipeline so every
release can be independently verified by anyone. Ensure key generation,
storage, and signing code remains auditable, unchanged, and never
transmitted off-device — preserving the core security guarantee that
Daedalus's users depend on.

**Hard Fork Integration** — All Daedalus changes required for each
upcoming hard fork, with testnet verification and a compatible stable
release at least 2 weeks before mainnet activation.

**Leios, Peras & Nested Transactions Readiness** — Ship compatible node
versions as these protocols progress toward mainnet; monitor for
user-facing UX impacts; maintain compatibility ahead of each
testnet/mainnet activation.

**Binary Signing Continuity** — Maintain the IOG signing arrangement
for all official releases throughout the contract period. CI infrastructure
and signing costs are covered under the approved Cardano Node Maintenance
budget.

**Platform & Localisation** — All platforms maintained: Windows, macOS
x86_64, macOS aarch64, Linux. Full Japanese translation across all
new features.

**Hardware Wallet Support** — Add support for Keystone and Flex, and other
newer hardware wallet models as they emerge, expanding the population of
security-conscious ADA holders who can use Daedalus with hardware wallet
protection.

**CIP-30 dApp Connector** — Implement CIP-30 within Daedalus, enabling
compatible dApps to connect to a user's full-node wallet without
switching to a browser wallet.

**User-Facing CIP Implementations** — Track and implement user-facing
CIPs finalized during the contract period (token standards, metadata,
transaction capabilities).

**User Support** — Responsive support for the Daedalus user base across
GitHub, community forums, and direct channels. The Japanese community
receives first-class support alongside English speakers; Daedalus will
remain fully translated into Japanese throughout the contract period
and across every feature shipped.

**Architecture Assessment** — Scoped investigation into a potential
Daedalus architecture rewrite; assessment published regardless of outcome.

### Expected Value

Users who run Daedalus because they don't trust Lite wallets are
particularly exposed if Daedalus falls behind on protocol compatibility.
A Lite wallet user can switch backends during a hard fork; a Daedalus
user running an incompatible version cannot sync the chain at all.
Timely protocol support is existential for this user base.

Cardano is in its most protocol-intensive period since CIP-1694, with
the intra-era hard fork, Leios, Peras, and Nested Transactions all on
the horizon. Each requires Daedalus to ship an updated node version.

Full-node users are currently locked out of the dApp ecosystem — any
dApp interaction requires switching to a browser wallet, undermining
the self-sovereignty model. CIP-30 closes this gap entirely.

The binary signing arrangement with IOG preserves years of user trust
built through consistently signed releases. Maintaining it through the
funding transition is the responsible approach.

### Risk Register

| Risk | Likelihood | Impact | Mitigation |
|---|---|---|---|
| ADA/USD exchange rate volatility | High | High | ADA received is converted promptly to USD-backed stablecoins; labor costs are denominated in USD and invoiced at spot rate, capping exposure to price swings during the contract period |
| cardano-node upstream API changes | Medium | High | T&M engagement absorbs scope changes; team has an established working relationship with upstream IOG engineers providing early visibility into breaking changes |
| Leios/Peras complexity underestimate | Medium | Medium | T&M removes fixed-price risk; the engagement scales to actual complexity rather than an estimate made before specifications are final |
| Platform dependency changes (Apple notarization policy, Windows signing infrastructure) | Low | High | IOG binary signing arrangement is maintained throughout; `drt` toolchain is purpose-built and not dependent on third-party CI services that could change terms |
| Team continuity over 12-month contract | Low | High | Core team members are founding members of Se7en Labs with multi-year Cardano track records; key processes are documented in the `drt` toolchain and Nix build infrastructure |

### Success Metrics

- Compatible release available at least 2 weeks before each mainnet
hard fork; development builds on DijkstraNet throughout testing
- cardano-node no more than 2 major versions behind mainnet recommended
at any time
- 100% of official releases cryptographically signed
- All four platform builds passing CI in every stable release
- Critical security issues addressed in a timely manner
- Keystone and Flex supported in a stable release within contract period
- CIP-30 connector implemented and available in a stable release
- User support maintained throughout the contract period; Japanese users
receive responses in Japanese
- Full Japanese translation current across all features shipped during
the contract year
- Architecture assessment published by Q3 2027

All release-timing and version-currency metrics are independently
verifiable from public GitHub repositories and the Cardano mainnet chain
without reliance on applicant self-reporting.

### Milestones

#### Hard Fork Integration (Duration: 6 weeks)

**Deliverables:**
- All Daedalus changes for hard fork compatibility completed
- Development builds provided on relevant testnet throughout testing
- Compatible stable release published at least 2 weeks before mainnet
hard fork activation

**Acceptance Criteria:**
- Compatible stable release available at least 2 weeks before mainnet
activation
- Daedalus fully functional post-hard-fork across all platforms

#### Ongoing Maintenance (Duration: 52 weeks)

**Deliverables:**
- Continuous node and wallet backend updates integrated as released
- All releases signed per the IOG binary signing arrangement
- Full Japanese translation coverage across all new features
- CI maintained across all platform targets

**Acceptance Criteria:**
- Compatible stable release available at least 2 weeks before each
mainnet hard fork
- All releases carry valid signatures
- All platform targets maintained throughout the contract year

#### Leios/Peras Readiness (Duration: 26 weeks)

**Deliverables:**
- Daedalus running a Leios/Peras compatible node version ahead of any
testnet or mainnet activation
- Assessment of user-facing UX impacts with adjustments shipped as
needed

**Acceptance Criteria:**
- Compatible node version shipped and verified on testnet before mainnet
- No disruption to Daedalus users during protocol transition

#### Hardware Wallet Support (Duration: 12 weeks)

**Deliverables:**
- Support for Keystone and Flex shipped in a stable release, plus
additional newer hardware wallet models as they emerge during the
contract period

**Acceptance Criteria:**
- Keystone and Flex functional in QA testing
- No regression in existing hardware wallet support (Ledger Nano, Trezor)

#### CIP-30 dApp Connector (Duration: 20 weeks)

**Deliverables:**
- CIP-30 (Cardano dApp-Wallet Web Bridge) implementation within Daedalus
- Verified interoperability with the CIP-30 dApp ecosystem
- User documentation for connecting dApps to Daedalus

**Acceptance Criteria:**
- CIP-30 connector available in a stable release
- Verified working with CIP-30 compatible dApps
- No external API dependency introduced

#### User Support (Duration: 52 weeks)

**Deliverables:**
- Ongoing support for Daedalus users via GitHub issues, community forums,
and direct channels throughout the contract period
- Japanese-language support for Japanese users; full Japanese translation
maintained across all features shipped during the contract year

**Acceptance Criteria:**
- Support channels actively monitored and responded to throughout the
contract period
- All new features ship with complete Japanese translation

#### Architecture Assessment (Duration: 8 weeks)

**Deliverables:**
- Architecture assessment covering current state, options, and resource
estimates with a clear recommendation
- If rewrite initiated: foundational implementation on development branch

**Acceptance Criteria:**
- Assessment published publicly with clear recommendation and rationale

### 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.

### Prior Treasury Funding Disclosure

Se7en Labs has not received ada from the Cardano Treasury within the last
24 months. The team has operated under a direct IOG contract for Daedalus
maintenance since January 2026, closing August 31, 2026.

### Budget Summary

The minimum team required to keep Daedalus maintained — node upgrades,
hard fork readiness, platform support, release engineering — is not
significantly smaller or cheaper than the team needed to also ship
lightweight feature work. The development items in this proposal (hardware
wallet support, CIP-30 connector, architecture assessment) are
comparatively low-cost additions on top of a team that must exist anyway.
The bulk of this proposal is maintenance; the features come largely for
free.

- **Team** | Resources (Labor) | 1,666,667 ADA: Team effort covering all
protocol maintenance and ecosystem improvements: node/wallet integration,
hard fork support, hardware wallet support, CIP-30 dApp connector
implementation, architecture assessment, build infrastructure, platform
maintenance, and release engineering. CI infrastructure and binary signing
costs are covered under the approved Cardano Node Maintenance budget. Any
unspent labor budget at contract close is returned to the treasury.
- **Test Hardware** | Equipment | 33,333 ADA: As a small team taking on a
multi-platform product, we need to acquire and maintain test devices —
primarily macOS laptops covering both x86_64 and aarch64, and hardware
wallets representing the range of devices Daedalus supports — to ensure
every release is verified on real hardware before shipping. Any unspent
hardware budget is returned to the treasury.
- **Financial Audit** | Audit | 33,333 ADA: Independent financial audit of
funds received and expended under this proposal. Any unspent audit budget
is returned to the treasury.

| Work Package | Total (ADA) |
|---|---|
| Maintenance and Improvements | 1,666,667 |
| Test Hardware | 33,333 |
| Financial Audit | 33,333 |
| Intersect Budget Administration fee | 52,000 |
| **Total** | **1,785,333** |

### Administration and Oversight

Intersect serves as the administrator and independent milestone verifier
for this proposal, in accordance with Article II.7.5 of the Cardano
Constitution. Intersect is responsible for monitoring how funds are used,
independently confirming that acceptance criteria are met, and authorizing
disbursements. As a time and materials engagement, funds are disbursed
monthly against verified work. Funds received from the treasury withdrawal
will be held by Intersect in a dedicated account auditable by the Cardano
Community, delegated to the predefined abstain voting option, prior to
monthly disbursement to Se7en Labs.

### Intersect Budget Management Tooling

To administrate treasury funds on-chain, Intersect will utilize the
treasury management smart contract framework developed by Sundae Labs.
A new instance of these smart contracts has been deployed for 2026,
mirroring the contracts from the 2025 budget cycle.

- The 2026 Treasury Reserve Smart Contract stake address:
`stake1784sdxt6jjennmstphgdu7l7c2scf5d02a6cve2dgn5s2kq5u3j9v`
- The 2026 Treasury Reserve Smart Contract payment address:
`addr1x84sdxt6jjennmstphgdu7l7c2scf5d02a6cve2dgn5s2k8tq6vh499n88hqkrwsmealas4psng674m4sej5638fq4vqmxs59w`
- The 2026 Project Specific Smart Contract payment address:
`addr1x9d6k9z6t6fvsetj2djmerargk475lef9gfvshy4rwh4h7jm4v295h5jepjhy5m9hj86x3dtafljj2sjepwf2xa0t0aq048cay`

#### Specifics

Intersect will utilize a single Treasury Reserve Smart Contract (TRSC),
with one Project-Specific Smart Contract (PSSC). Intersect's management
consists of five 'admin' and three Intersect 'leadership' roles. An
Oversight Committee consisting of six 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 PSSC will be managed by Intersect, with external oversight on certain
actions from the Oversight Committee.

The Oversight Committee consists of Sundae Labs, Cardano Foundation,
Dquadrant, NMKR, Sundial and Eternl. 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 five Intersect admins, two of the six trusted entities
and one of the three Intersect leadership sign-off must authorize
* TRSC Disburse
* Two of five Intersect admins, three of six trusted entities and two
of three Intersect leadership sign-off must authorize
* TRSC Pause and Resume
* Two of five Intersect admins, and one of three Intersect leadership
sign-off must authorize
* TRSC Sweep
* One of five Intersect admins, and one of three Intersect leadership
sign-off must authorize
* TRSC Reorganize
* Two of five Intersect admins and three of six trusted entities must
authorize

#### Processes

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

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

A dashboard is available
([treasury.sundae.fi](https://treasury.sundae.fi/budgets/51486a2f1496d4d3a688a9b111971aa9b731ed045d900b601345ca4e))
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.