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CIP‐1694 and Cardano Interim Constitution : Cardano Decentralized Governance 03‐08‐2024 ‐ By Bernard Sibanda
Bernard Sibanda edited this page Aug 3, 2024
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- CIP-1694 is a Cardano Improvement Proposal.
- Named after the year of the first known draft of the United States Constitution.
- Aims to enhance decentralized decision-making on Cardano.
- Involves the community more directly in governance.
- Combines on-chain and off-chain processes for decision-making.
- Emphasizes greater community involvement.
- Gives ADA holders more influence over network changes and developments.
- Introduces mechanisms for on-chain voting.
- Allows ADA holders to vote on proposals directly through the blockchain.
- Aims to improve transparency in the governance process.
- Ensures decisions are made in an open and accountable manner.
- Involves a wider range of stakeholders in decision-making.
- Seeks to further decentralize the governance of the Cardano network.
- Includes mechanisms to incentivize active participation.
- Ensures stakeholders are motivated to contribute to network development.
- Purpose: Establish governance principles and structures during Cardano's transitional phase.
- Objective: Ensure transparent, decentralized decision-making and community involvement.
- Constitutional Committee: Responsible for upholding the constitution.
- DReps (Delegated Representatives): Elected by ADA holders to represent their interests.
- SPOs (Stake Pool Operators): Maintain the network and participate in governance.
- Draft and propose amendments.
- Ensure adherence to the constitution.
- Safeguard network integrity.
- Vote on proposals and amendments.
- Represent ADA holders' interests.
- Engage with the community for feedback and input.
- Maintain network operations.
- Participate in governance through voting and proposal evaluation.
- Ensure network security and decentralization.
- Proposal Submission: Any ADA holder can submit governance proposals.
- Review and Discussion: Proposals reviewed by the Constitutional Committee and discussed by the community.
- Voting Mechanism: Proposals put to vote by DReps, SPOs, and ADA holders.
- Implementation: Approved proposals are implemented according to the constitution.
- Quadratic Voting: Prevents disproportionate influence by large stakeholders.
- Thresholds and Quorums: Defined thresholds for proposal approval and minimum participation requirements.
- Public Records: All governance actions and decisions recorded on the blockchain.
- Regular Reports: Periodic reports on governance activities and network status.
- Proposal for Amendment: Any ADA holder can propose amendments.
- Review and Voting: Amendments undergo the same review and voting process as other proposals.
- Ratification: Amendments ratified by the Constitutional Committee and a supermajority vote.
- Feedback Mechanisms: Regular community meetings, forums, and surveys for input.
- Education and Outreach: Initiatives to educate the community about governance processes and encourage participation.
- Interim Nature: The constitution is a temporary framework, subject to evolution and improvement.
- Commitment to Decentralization: Emphasis on increasing community control and reducing central authority.