거버넌스 제안 상세
제안서 상세 내용과 투표 현황을 확인하세요.
한글 버전
zkFold는 Cardano의 확장성 문제를 해결하기 위해 ZK Rollup(제로지식 롤업) 솔루션을 구축함.
ZK Rollup은 수백 건의 트랜잭션을 하나의 배치로 묶어 L1(메인넷)의 부하를 줄이고, Cardano의 처리량(TPS)을 높이며, 트랜잭션 비용을 낮춤.
zkFold의 ZK Rollup은 일반적인 목적의 Layer 2 솔루션으로, 배치 내 수백 건의 스마트 컨트랙트 트랜잭션이 하나의 Cardano 메인넷 트랜잭션에 압축되어 저장될 수 있음.
제로지식 증명(ZKP) 기술을 활용해 배치 검증 비용이 프로토콜 수준의 Execution Unit 한도 내에 들어가도록 설계됨.
이 인출은 Intersect가 벤더를 대신해 제출했으며, 총 39개 예산안 중 하나로, ₳275.27M(2억 7,527만 에이다) 규모임.
예산 집행은 Intersect가 관리하며, gov_action1u9x73kwufaxa70lfy59g4ynwyrcsaxdcd0gxzzmh67s9fxq4j8hqqk2phgh를 통해 진행됨.
본 정보는 Cardano 헌법이 요구하는 트레저리 위드로얼 정보 제공 의무를 충족하기 위해 솔루션 상세, 예산 정합성, 인출 금액 등을 명시함.
---
**주석**
- **ZK Rollup**: 제로지식 증명을 활용해 다수의 트랜잭션을 하나로 묶어 메인넷에 제출하는 Layer 2 확장 솔루션임.
- **L1**: Layer 1, 즉 Cardano 메인넷 블록체인을 의미함.
- **Execution Unit**: Cardano에서 스마트 컨트랙트 실행 비용을 측정하는 단위임.
- **Intersect**: Cardano 생태계의 거버넌스 및 재정 운영을 담당하는 조직임.
- **트레저리 위드로얼**: Cardano 재무부(트레저리)에서 자금을 인출하는 공식 절차임.
이를 해결하기 위해 Cardano는 여러 확장성 솔루션을 도입하고 있음.
첫째, **Hydra**라는 레이어 2 확장 솔루션이 있음.
Hydra는 병렬 처리 노드 네트워크를 만들어 거래 처리량을 늘리고 지연 시간을 줄여, 더 많은 거래를 빠르고 안전하게 처리할 수 있도록 설계됨[1][3].
둘째, **Ouroboros 합의 알고리즘**과 계층적 아키텍처, 사이드체인 등도 확장성 향상에 기여함[2][3].
셋째, **데이터 압축 기술**과 **Mithril** 같은 추가 기술도 도입되어 네트워크 대역폭과 처리 효율을 높임[3].
넷째, 에이다(ADA) 재무 기금이 충분히 확보되어 있어, Leios, Hydra, ZK(영지식증명) 프로그램 등 공격적인 확장성 프로젝트를 추진할 수 있는 재정적 기반이 마련되어 있음[1].
이와 함께 Cardano 커뮤니티는 확장성 개선을 위한 연구와 개발에 적극 참여하며, 보안과 탈중앙화 원칙을 유지하면서도 빠른 거래 처리와 낮은 수수료를 목표로 하고 있음[1][3].
요약하면, Cardano는 Hydra 레이어 2, Ouroboros 합의, 데이터 압축, Mithril, 사이드체인 등 다양한 기술과 충분한 재정 지원을 통해 확장성 문제를 해결하고자 노력 중임[1][2][3].
---
**주석**
- Hydra: Cardano의 레이어 2 확장 솔루션으로 병렬 처리 노드를 활용해 거래 처리량을 늘림
- Ouroboros: Cardano의 지분증명 합의 알고리즘
- Mithril: 경량화된 서명 집계 기술로 네트워크 효율 향상
- ZK: 영지식증명(Zero-Knowledge Proof) 기술
이 제안은 Cardano 생태계에 다음과 같은 긍정적 영향을 미침:
- **확장성 향상:** ZK 롤업은 다수의 거래를 오프체인에서 묶어 검증함으로써 초당 처리 거래량(TPS)을 크게 증가시켜 네트워크 혼잡을 줄이고 dApp 상호작용을 빠르고 효율적으로 만듦.
- **거래 비용 절감:** 온체인에서 직접 처리하는 거래 수를 줄여 수수료를 낮춤으로써 특히 소액 거래나 마이크로 결제에 대해 Cardano 접근성을 높임.
- **사용자 경험 개선:** 낮은 수수료로 dApp, DeFi, NFT 마켓플레이스 이용 시 원활한 경험 제공.
- **채택 증가:** 높은 성능과 확장성을 제공하여 개발자와 사용자가 Cardano 생태계에 더 많이 참여하도록 유도함.
- **보안 유지:** ZK 롤업은 Cardano의 기본 계층이 롤업 거래의 정산 계층 역할을 하면서 보안과 탈중앙화를 훼손하지 않고 확장성을 개선함.
zkFold 팀은 Haskell, Rust, ZKP 개발자 및 암호학 전문가로 구성되어 있으며, 현재 ZK 롤업의 테스트넷 단계에 있음.
프로젝트 관리 측면에서, Cardano Development Holdings(CDH)와 벤더 간에 오프체인 법적 계약이 작성되고 Intersect가 이를 관리함.
프로젝트 납품은 계약서에 명시된 마일스톤, 수락 기준, 지급 금액, 납품 일정에 따라 진행되며, 커뮤니티와 제3자 검증자가 마일스톤 수락을 확인함.
재무 관리는 Sundae Labs가 개발한 스마트 계약 프레임워크를 사용하여 Intersect가 관리하며, Sundae Labs, Cardano Foundation, Dquadrant, Xerberus, NMKR로 구성된 외부 독립 감시 위원회가 감독함.
재무 스마트 계약의 주요 권한은 Intersect 관리자, 리더십, 감시 위원회의 다중 서명으로 엄격히 통제됨.
펀딩은 Treasury Reserve Smart Contract(TRSC)로 입금되며, 프로젝트별 스마트 계약(PSSC)로 이체되어 마일스톤별 자금 집행이 이루어짐.
커뮤니티는 대시보드를 통해 자금 사용 내역과 프로젝트 진행 상황을 온체인에서 투명하게 검증할 수 있음.
---
**주석**
- ZK 롤업: Zero-Knowledge Rollup, 거래를 묶어 오프체인에서 처리하고 증명만 온체인에 올려 확장성을 높이는 기술
- dApp: 분산 애플리케이션
- DeFi: 탈중앙화 금융
- UPLC: Untyped Plutus Core, Cardano 스마트 계약 언어
- ZKP: Zero-Knowledge Proof, 증명 과정에서 정보 노출 없이 진위를 증명하는 암호학 기술
English
ZK rollups address the scalability problem. Hundreds of transactions can be submitted as a single batch, reducing the load on the L1. Cardano can achieve higher throughput and lower transaction costs.
zkFold offers to build a general-purpose zero knowledge rollup solution for Cardano. A zero knowledge rollup is a technological layer (Layer 2) on top of a blockchain that increases the blockchain's scalability potential by compressing many transactions into transaction batches. As batches offer a greater degree of information compression, it is reasonable to expect that hundreds of rollup smart contract transactions might fit into a single Cardano mainnet transaction. Zero knowledge proofs technology places a limit on the cost of on-chain verification of the validity of transaction batches. Specifically, the batch verification fits well within the Execution Unit limits set at the protocol level, as demonstrated by the prototype created by the zkFold team.
This Treasury Withdrawal is submitted by Intersect on behalf of the vendor. The following sections; Abstract, Motivation, Rationale and Vendor Profile have been sourced from the approved proposal submitted by the Vendor as part of the Intersect budget process.
This treasury withdrawal funds one of 39 proposals to give effect to the approved budget info action for ₳275,269,340, administered by Intersect via gov_action1u9x73kwufaxa70lfy59g4ynwyrcsaxdcd0gxzzmh67s9fxq4j8hqqk2phgh. The information provided herein is intended to fulfill the spirit of the constitutional requirement for a treasury withdrawal info action by also providing the details of the proposed solution, alignment to the budget, and amount to be withdrawn from the Cardano Treasury.
Scalability is a challenge for Cardano. As it grows, more dApps and users join, the demand for processing capacity increases, leading to congestion, slower transaction times, and higher fees.
zkFold will develop and implement ZK rollups on Cardano to scale it efficiently, promoting broader adoption and supporting an ecosystem of decentralized applications and services.
Overall, the proposal will have the following positive impact on the Cardano ecosystem:
- Improved Scalability: ZK rollups enable Cardano to process significantly more transactions per second (TPS) by bundling and verifying transactions off-chain. This reduces congestion, benefiting users by ensuring faster and more efficient dApp interactions.
- Lower Transaction Costs: By reducing the number of transactions directly processed on-chain, ZK rollups lower the transaction fees, making Cardano more accessible and affordable, especially for smaller transactions or micro-payments.
- Enhanced User Experience: Lower fees create a smoother experience for users interacting with dApps, decentralized finance (DeFi) platforms, and NFT marketplaces.
- Increased Adoption: ZK rollups can make the Cardano ecosystem more attractive for developers and users, promoting the growth of dApps, DeFi, and other blockchain applications by offering higher performance and scalability.
- Maintained Security: ZK rollups allow for scalability improvements without compromising the security and decentralization of the Cardano base layer, as Cardano still plays the role of the settlement layer for the rollup transactions.
### Vendor Profile
zkFold team has successfully moving towards the TestNet of our ZK Rollup. The zkFold team consists of expert Haskell, Rust, and ZKP developers and Cryptographers.
### Contract Management
A written off-chain Legal Contract will be created between the Vendor 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 Vendor and Intersect, acting on behalf of the CDH. The vendor 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, the vendor 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 above work is expected to 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.
### 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](https://github.com/SundaeSwap-finance/treasury-contracts/tree/main/offchain/tests) including audits from TxPipe and MLabs. Examples of the usage of these contracts can be seen across mainnet described across Intersect authored [Blog 1](https://www.intersectmbo.org/news/smart-contract-mainnet-demo-a-step-toward-on-chain-treasury-withdrawals), [Blog 2](https://www.intersectmbo.org/news/smart-contract-mainnet-demo-day-two-update) and [Blog 3](https://www.intersectmbo.org/news/smart-contract-mainnet-demo-day-three-update).
Final mainnet validation test can be seen via the Disburse action within transaction: 0f591dc544ae14102dbb4a74d5311a6acffc1772b163d8b7a9656b9525950b17
With the confirmed treasury reserve contract address being: stake17xzc8pt7fgf0lc0x7eq6z7z6puhsxmzktna7dluahrj6g6ghh5qjr
#### 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 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://docs.intersectmbo.org/cardano-facilitation-services/cardano-budget/intersect-administration-services/smart-contracts-as-part-of-our-administration)** 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 the Legal contract is prepared and the vendor 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.
The subsections; Contract Management, Project Delivery, and Budget Management Tooling described above cover the constitutional requirements specified in Article IV section 4 and 5.
부가 정보
| 트랜잭션 해시 | 8ad3d454f3496a35cb0d07b0fd32f687f66338b7d60e787fc0a22939e5d8833e |
|---|---|
| 블록 타임 | 1752853257 |
| Proposal ID | gov_action13tfag48nf94rtjcdq7c06vhkslmxxw9h6c88sl7q5g5nnewcsvlqwtnrdnx |
| Proposal Index | 7 |
₳1,161,000이 Intersect가 관리하는 zkFold ZK Rollup을 위해 출금되었으며, 이는 zk-rollup의 빠른 상태 검증과 안전한 자산 이동을 위한 출금 절차에 해당한다는 제안.
현재 어디까지 왔나
📊 제안서 투표현황
DRep 투표현황
SPO 투표현황
헌법위원회 투표현황
📝 상세 설명
🇰🇷 한글 버전
zkFold는 Cardano의 확장성 문제를 해결하기 위해 ZK Rollup(제로지식 롤업) 솔루션을 구축함.
ZK Rollup은 수백 건의 트랜잭션을 하나의 배치로 묶어 L1(메인넷)의 부하를 줄이고, Cardano의 처리량(TPS)을 높이며, 트랜잭션 비용을 낮춤.
zkFold의 ZK Rollup은 일반적인 목적의 Layer 2 솔루션으로, 배치 내 수백 건의 스마트 컨트랙트 트랜잭션이 하나의 Cardano 메인넷 트랜잭션에 압축되어 저장될 수 있음.
제로지식 증명(ZKP) 기술을 활용해 배치 검증 비용이 프로토콜 수준의 Execution Unit 한도 내에 들어가도록 설계됨.
이 인출은 Intersect가 벤더를 대신해 제출했으며, 총 39개 예산안 중 하나로, ₳275.27M(2억 7,527만 에이다) 규모임.
예산 집행은 Intersect가 관리하며, gov_action1u9x73kwufaxa70lfy59g4ynwyrcsaxdcd0gxzzmh67s9fxq4j8hqqk2phgh를 통해 진행됨.
본 정보는 Cardano 헌법이 요구하는 트레저리 위드로얼 정보 제공 의무를 충족하기 위해 솔루션 상세, 예산 정합성, 인출 금액 등을 명시함.
---
**주석**
- **ZK Rollup**: 제로지식 증명을 활용해 다수의 트랜잭션을 하나로 묶어 메인넷에 제출하는 Layer 2 확장 솔루션임.
- **L1**: Layer 1, 즉 Cardano 메인넷 블록체인을 의미함.
- **Execution Unit**: Cardano에서 스마트 컨트랙트 실행 비용을 측정하는 단위임.
- **Intersect**: Cardano 생태계의 거버넌스 및 재정 운영을 담당하는 조직임.
- **트레저리 위드로얼**: Cardano 재무부(트레저리)에서 자금을 인출하는 공식 절차임.
이를 해결하기 위해 Cardano는 여러 확장성 솔루션을 도입하고 있음.
첫째, **Hydra**라는 레이어 2 확장 솔루션이 있음.
Hydra는 병렬 처리 노드 네트워크를 만들어 거래 처리량을 늘리고 지연 시간을 줄여, 더 많은 거래를 빠르고 안전하게 처리할 수 있도록 설계됨[1][3].
둘째, **Ouroboros 합의 알고리즘**과 계층적 아키텍처, 사이드체인 등도 확장성 향상에 기여함[2][3].
셋째, **데이터 압축 기술**과 **Mithril** 같은 추가 기술도 도입되어 네트워크 대역폭과 처리 효율을 높임[3].
넷째, 에이다(ADA) 재무 기금이 충분히 확보되어 있어, Leios, Hydra, ZK(영지식증명) 프로그램 등 공격적인 확장성 프로젝트를 추진할 수 있는 재정적 기반이 마련되어 있음[1].
이와 함께 Cardano 커뮤니티는 확장성 개선을 위한 연구와 개발에 적극 참여하며, 보안과 탈중앙화 원칙을 유지하면서도 빠른 거래 처리와 낮은 수수료를 목표로 하고 있음[1][3].
요약하면, Cardano는 Hydra 레이어 2, Ouroboros 합의, 데이터 압축, Mithril, 사이드체인 등 다양한 기술과 충분한 재정 지원을 통해 확장성 문제를 해결하고자 노력 중임[1][2][3].
---
**주석**
- Hydra: Cardano의 레이어 2 확장 솔루션으로 병렬 처리 노드를 활용해 거래 처리량을 늘림
- Ouroboros: Cardano의 지분증명 합의 알고리즘
- Mithril: 경량화된 서명 집계 기술로 네트워크 효율 향상
- ZK: 영지식증명(Zero-Knowledge Proof) 기술
이 제안은 Cardano 생태계에 다음과 같은 긍정적 영향을 미침:
- **확장성 향상:** ZK 롤업은 다수의 거래를 오프체인에서 묶어 검증함으로써 초당 처리 거래량(TPS)을 크게 증가시켜 네트워크 혼잡을 줄이고 dApp 상호작용을 빠르고 효율적으로 만듦.
- **거래 비용 절감:** 온체인에서 직접 처리하는 거래 수를 줄여 수수료를 낮춤으로써 특히 소액 거래나 마이크로 결제에 대해 Cardano 접근성을 높임.
- **사용자 경험 개선:** 낮은 수수료로 dApp, DeFi, NFT 마켓플레이스 이용 시 원활한 경험 제공.
- **채택 증가:** 높은 성능과 확장성을 제공하여 개발자와 사용자가 Cardano 생태계에 더 많이 참여하도록 유도함.
- **보안 유지:** ZK 롤업은 Cardano의 기본 계층이 롤업 거래의 정산 계층 역할을 하면서 보안과 탈중앙화를 훼손하지 않고 확장성을 개선함.
zkFold 팀은 Haskell, Rust, ZKP 개발자 및 암호학 전문가로 구성되어 있으며, 현재 ZK 롤업의 테스트넷 단계에 있음.
프로젝트 관리 측면에서, Cardano Development Holdings(CDH)와 벤더 간에 오프체인 법적 계약이 작성되고 Intersect가 이를 관리함.
프로젝트 납품은 계약서에 명시된 마일스톤, 수락 기준, 지급 금액, 납품 일정에 따라 진행되며, 커뮤니티와 제3자 검증자가 마일스톤 수락을 확인함.
재무 관리는 Sundae Labs가 개발한 스마트 계약 프레임워크를 사용하여 Intersect가 관리하며, Sundae Labs, Cardano Foundation, Dquadrant, Xerberus, NMKR로 구성된 외부 독립 감시 위원회가 감독함.
재무 스마트 계약의 주요 권한은 Intersect 관리자, 리더십, 감시 위원회의 다중 서명으로 엄격히 통제됨.
펀딩은 Treasury Reserve Smart Contract(TRSC)로 입금되며, 프로젝트별 스마트 계약(PSSC)로 이체되어 마일스톤별 자금 집행이 이루어짐.
커뮤니티는 대시보드를 통해 자금 사용 내역과 프로젝트 진행 상황을 온체인에서 투명하게 검증할 수 있음.
---
**주석**
- ZK 롤업: Zero-Knowledge Rollup, 거래를 묶어 오프체인에서 처리하고 증명만 온체인에 올려 확장성을 높이는 기술
- dApp: 분산 애플리케이션
- DeFi: 탈중앙화 금융
- UPLC: Untyped Plutus Core, Cardano 스마트 계약 언어
- ZKP: Zero-Knowledge Proof, 증명 과정에서 정보 노출 없이 진위를 증명하는 암호학 기술
🇺🇸 English
ZK rollups address the scalability problem. Hundreds of transactions can be submitted as a single batch, reducing the load on the L1. Cardano can achieve higher throughput and lower transaction costs.
zkFold offers to build a general-purpose zero knowledge rollup solution for Cardano. A zero knowledge rollup is a technological layer (Layer 2) on top of a blockchain that increases the blockchain's scalability potential by compressing many transactions into transaction batches. As batches offer a greater degree of information compression, it is reasonable to expect that hundreds of rollup smart contract transactions might fit into a single Cardano mainnet transaction. Zero knowledge proofs technology places a limit on the cost of on-chain verification of the validity of transaction batches. Specifically, the batch verification fits well within the Execution Unit limits set at the protocol level, as demonstrated by the prototype created by the zkFold team.
This Treasury Withdrawal is submitted by Intersect on behalf of the vendor. The following sections; Abstract, Motivation, Rationale and Vendor Profile have been sourced from the approved proposal submitted by the Vendor as part of the Intersect budget process.
This treasury withdrawal funds one of 39 proposals to give effect to the approved budget info action for ₳275,269,340, administered by Intersect via gov_action1u9x73kwufaxa70lfy59g4ynwyrcsaxdcd0gxzzmh67s9fxq4j8hqqk2phgh. The information provided herein is intended to fulfill the spirit of the constitutional requirement for a treasury withdrawal info action by also providing the details of the proposed solution, alignment to the budget, and amount to be withdrawn from the Cardano Treasury.
Scalability is a challenge for Cardano. As it grows, more dApps and users join, the demand for processing capacity increases, leading to congestion, slower transaction times, and higher fees.
zkFold will develop and implement ZK rollups on Cardano to scale it efficiently, promoting broader adoption and supporting an ecosystem of decentralized applications and services.
Overall, the proposal will have the following positive impact on the Cardano ecosystem:
- Improved Scalability: ZK rollups enable Cardano to process significantly more transactions per second (TPS) by bundling and verifying transactions off-chain. This reduces congestion, benefiting users by ensuring faster and more efficient dApp interactions.
- Lower Transaction Costs: By reducing the number of transactions directly processed on-chain, ZK rollups lower the transaction fees, making Cardano more accessible and affordable, especially for smaller transactions or micro-payments.
- Enhanced User Experience: Lower fees create a smoother experience for users interacting with dApps, decentralized finance (DeFi) platforms, and NFT marketplaces.
- Increased Adoption: ZK rollups can make the Cardano ecosystem more attractive for developers and users, promoting the growth of dApps, DeFi, and other blockchain applications by offering higher performance and scalability.
- Maintained Security: ZK rollups allow for scalability improvements without compromising the security and decentralization of the Cardano base layer, as Cardano still plays the role of the settlement layer for the rollup transactions.
### Vendor Profile
zkFold team has successfully moving towards the TestNet of our ZK Rollup. The zkFold team consists of expert Haskell, Rust, and ZKP developers and Cryptographers.
### Contract Management
A written off-chain Legal Contract will be created between the Vendor 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 Vendor and Intersect, acting on behalf of the CDH. The vendor 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, the vendor 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 above work is expected to 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.
### 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](https://github.com/SundaeSwap-finance/treasury-contracts/tree/main/offchain/tests) including audits from TxPipe and MLabs. Examples of the usage of these contracts can be seen across mainnet described across Intersect authored [Blog 1](https://www.intersectmbo.org/news/smart-contract-mainnet-demo-a-step-toward-on-chain-treasury-withdrawals), [Blog 2](https://www.intersectmbo.org/news/smart-contract-mainnet-demo-day-two-update) and [Blog 3](https://www.intersectmbo.org/news/smart-contract-mainnet-demo-day-three-update).
Final mainnet validation test can be seen via the Disburse action within transaction: 0f591dc544ae14102dbb4a74d5311a6acffc1772b163d8b7a9656b9525950b17
With the confirmed treasury reserve contract address being: stake17xzc8pt7fgf0lc0x7eq6z7z6puhsxmzktna7dluahrj6g6ghh5qjr
#### 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 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://docs.intersectmbo.org/cardano-facilitation-services/cardano-budget/intersect-administration-services/smart-contracts-as-part-of-our-administration)** 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 the Legal contract is prepared and the vendor 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.
The subsections; Contract Management, Project Delivery, and Budget Management Tooling described above cover the constitutional requirements specified in Article IV section 4 and 5.