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- #026: Cardano's Special Voting Events - A Game-Changer for Community Governance
#026: Cardano's Special Voting Events - A Game-Changer for Community Governance
PLUS: What is CIP-1694?
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Hi Cardano Community,
Welcome to This Week In Cardano - your daily Newsletter covering the major updates in the Cardano Ecosystem!
This is what we have for you today:
🎨 Cardano's Special Voting Events - A Game-Changer for Community Governance
🛠 What is CIP-1694?
💎 Gem of the Day
This Week In Cardano
Your Daily Newsletter covering all major events happening in the Cardano Ecosystem
Cardano's Special Voting Events - A Game-Changer for Community Governance
As the Cardano community continues to evolve and grow in the coming year, Project Catalyst will play an even bigger role in driving innovation and progress.
One of the most exciting developments on the horizon is the introduction of Special Voting Events or SVEs for short.
What are Special Voting Events (SVEs) and how do they work?
SVEs are a new type of vote that will take place outside of the regular Project Catalyst funding cycles.
Using the same tooling as Project Catalyst, SVEs will allow the community to give their consent on decisions that do not directly correspond to innovation or community challenges.
How do SVEs differ from regular Project Catalyst funding cycles?
One of the key differences between SVEs and regular funding cycles is that SVEs will give the community a way to make important decisions before CIP-1694 is live or for decisions that do not correspond to a governance action.
By the way, what is CIP-1694?
CIP 1694, also known as the "Governance Upgrade," aims to enable full decentralized governance on the Cardano blockchain.
CIP 1694 aims to shift this control to the community by introducing a constitutional committee and features to enable the creation of a community-controlled treasury.
This would allow the community to vote on protocol parameter values, initiate hard forks, and control the distribution of funds from the treasury.
Additionally, CIP 1694 also includes the introduction of a new governance state, which will enable more efficient and transparent decision-making by the community.
Why are SVEs important for the Cardano community?
SVEs will be a powerful tool for the community to shape the direction of Cardano and drive progress.
SVEs will provide a direct channel for the community to influence the development of the project and to ensure that the project is aligned with the community's vision and values.
SVEs will also provide a way for the community to hold the development team accountable, ensuring that resources are allocated in a way that aligns with community priorities and goals.
When can you expect to learn more about SVEs, and how can you participate?
In the coming weeks, the Project Catalyst Team will be sharing more information about SVEs and how they will be used to make crucial decisions within the community.
You will be also able to know about how you can participate in SVEs and have your voice heard.
So stay tuned for more information and get ready to join the conversation about the future of Cardano.
Interested in sponsoring this Newsletter?
💎 Gem of the Day 🧵
Whale has a good point here. @DefiLlama now has a "Total Value Locked" category called Liquid Staking, with @LidoFinance at the top of all TVL but no #Cardano.
How is Ada not on this list? It has to be locked then liquid? Often the mental gymnastics by crypto peeps is astounding
— Rick McCracken DIGI (@RichardMcCrackn)
2:49 PM • Jan 16, 2023
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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