- The Cardano Constitutional Committee (CC) now has seven members again.
- Cardano Curia replaces the Atlantic Council after it unexpectedly resigned at the end of November.
Cardano’s decentralized on-chain governance is quorate again after just over three weeks. As Intersect announced yesterday, December 16th, the necessary majorities were achieved and Cardano Curia was confirmed as the seventh member of the decentralized Constitutional Committee.
X Street wrote Intersect:
“On the 7th day of the referendum… We have reached the end of the era. DReps at 80%, stake pools agree, it looks like we have ratified a new CC. Thank you to everyone who voted and contributed.”
What this means for Cardano
With the referendum, the ADA community has ended the governance deadlock. In the context of decentralized governance, this is a significant step as the CC is responsible for ratifying many categories of measures, including hard forks, budget allocations and parameter changes.
While the Cardano blockchain continued to produce blocks as usual, no improvements could be initiated. On-chain governance was only fully activated with the Plomin hard fork in January this year. This activated the second part of the Chang Upgrade, which included the Cardano Improvement Proposal (CIP) 1694.
Since then, the Cardano community has had complete control over protocol decisions and funding management, rather than the company Input Output led by founder Charles Hoskinson.
All governance measures have come to a standstill since November 25 after the CC fell below its minimum size due to an unexpected departure during the term. The Atlantic Council unexpectedly resigned early, leaving a seat vacant and the committee falling short of quorum.
The new CC member, Cardano Curia, was selected off-chain through a DRep vote using the Ekklesia tool, with ratification following on-chain. Approval required a two-thirds majority among DReps and a simple majority among Stake Pool Operators (SPOs).
ADA price is currently in deep bearish territory. After the price fell below the significant 200-week EMA in the second week of November, the weekly RSI is at 32, just above the oversold area. At the time of writing, ADA was trading at $0.37.
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