Cardano’s Constitution: A Historic Vote That Will Leave You Speechless! 😲

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Ah, the Cardano blockchain, that illustrious realm of digital ambition, has, with a flourish befitting a grand opera, ratified its inaugural constitution! With an astonishing 85% approval rate, it has swept aside the interim constitution like a dandy discarding an old hat. This new governance framework shall guide the evolution of this digital ecosystem, much like a wise old owl guiding a gaggle of confused ducklings. 🦉

Cardano’s Moment of Glory

On the fateful day of February 18, during a livestream that could only be described as riveting, the illustrious Charles Hoskinson, the founder of Cardano, unveiled the results with the flair of a magician revealing his greatest trick. “The Cardano Constitution has replaced the interim Constitution with a resounding 85% [Yes] to a mere 6.62% [No]. Only 7.68% chose to abstain from this grand spectacle,” he proclaimed, as if announcing the winner of a beauty pageant. The threshold for the Constitutional committee was a modest 67%, and lo and behold, it was a unanimous decision! All seven members voted, which is more than can be said for most family gatherings. 🎉

While the final vote required a mere 75% approval to pass, the supporters soared past that mark with the grace of a gazelle. Hoskinson waxed poetic about the significance of such a consensus: “Imagine the level of agreement required to achieve 75% approval. We did it here, and we did it globally, forging connections among people who previously existed in splendid isolation.”

He extolled the virtues of community involvement, referencing over 65 workshops and 1,800 participants, as if he were recounting the exploits of a heroic band of adventurers. “It took a long, long time, a lot of effort, and a remarkable journey,” he mused, as if reminiscing about a particularly arduous holiday. “But we did it!”

With this ratification, Cardano now boasts a governance layer that Hoskinson describes as “fully decentralized,” akin to Bitcoin’s level of decentralization but with a formal mechanism for future updates. One cannot help but chuckle at the thought of Cardano’s treasury, currently holding a staggering 1.5 billion ADA, which community representatives can allocate via on-chain governance votes. It’s like a treasure chest waiting for the right adventurers to unlock its secrets! 🏴‍☠️

Moreover, the system includes a Constitutional Committee that voted unanimously to adopt this measure. However, these initial committee members will eventually be replaced through a broader, fully decentralized election process, much like a reality show where the contestants are voted off one by one. “We have more things ahead of us,” Hoskinson explained, “We must get the product roadmap ratified, and the budget approved. Cardano is essentially a government—a living entity!”

He emphasized that the constitution will likely undergo updates, noting that the new framework is designed to evolve over time. “Because we’ve done this, we’ve created a proof point. We can do it again. Cardano is a living organism; it’s a vibrant ecosystem,” he declared, as if he were a proud parent showcasing their child’s latest art project.

In a call to arms, he urged community members to remain engaged, pointing to ongoing debates about potential improvements to voting mechanisms—such as quadratic voting or broader delegate structures. “We must determine possible compensation for key participants,” he added, as if discussing the merits of a new dessert at a lavish banquet.

Beyond the immediate celebration, Hoskinson underscored that this development places the network at the forefront of decentralized governance: “We have the largest governance layer now, which means we’re the smartest cryptocurrency ecosystem. We can crowdsource any idea, any strategy, and converge to a single common understanding.”

He contrasted Cardano’s on-chain governance model with other cryptocurrencies that often face slow or contentious upgrades due to decentralized structures without formal voting systems. “Our new constitution strikes a balance, allowing rapid evolution while preserving full decentralization,” he quipped, as if he were a wise sage imparting knowledge to eager disciples.

The ratified constitution sets the stage for a series of additional governance votes. In the near future, the Cardano community will focus on ratifying the product roadmap and budget allocations. With the constitutional foundation in place, stakeholders anticipate more fluid, coordinated decision-making on technical upgrades—such as improved throughput, tooling for decentralized applications, and new features supporting interoperability.

As he concluded his livestream, Hoskinson reflected on the broader impact of this milestone: “

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2025-02-19 13:45