The much anticipated Chang 2 hardfork is bringing two big changes this week, and the Cardano community is giddy with anticipation.
Two significant developments for the Cardano community this week were published in a recent tweet by Intersect, a member-based organisation for the Cardano ecosystem: the Daedalus governance update and the preproduction hard fork governance action.
The hardfork initiation governance action for the preproduction environment is now active, Intersect notified the Cardano community. It is anticipated that this step would bring protocol version 10.0 and complete governance to PreProd if it is implemented.
The update, according to Intersect, was based on community input and experience from the initial Chang upgrade, which indicated that more time should be spent testing in preproduction prior to the mainnet hardfork. The goal of this governance action is to solve this issue.
The PreProd Protocol Parameter change, which modifies the PlutusV3 cost model in anticipation of the Chang hardfork, was ratified before to this move. The usage of new Plutus primitives after the hardfork will be made possible by the additional costs included in this parameter change. After the governance action receives enough votes from the SPO and ICC, the hardfork will be implemented on-chain.
The Daedalus governance upgrade is the second important update. To ensure that the Daedalus community has a voice in Cardano’s success, Daedalus 7.0.0 will provide users the choice to automatically vote or assign their voting authority to delegated representatives (DReps).
Cardano Foundation launches first Financial Insights report
Today, the first Financial Insights Report was released by the Cardano Foundation, a separate nonprofit organisation with headquarters in Switzerland that is committed to developing Cardano’s public digital infrastructure.
The report represents a significant turning point in the organization’s ongoing commitment to the values of openness, morality, and community involvement.
The three interrelated emphasis areas of operational resilience, education, and adoption received $19.22 million from the Cardano Foundation in 2023. Additionally, as the Cardano Foundation expanded its capacity to assist and lead important initiatives, $4.55 million was allocated for central operating expenditures.
The Cardano Foundation has $478.24 million in assets as of December 31, 2023, of which 82.5% were in ADA, 10.1% were in Bitcoin, and the remainder was in USD liquidity. In the first quarter of 2025, the Cardano Foundation will release its next Activity Report 2024, which will provide comprehensive details on the projects and achievements in 2024.
