Cardano has set a speed record in governance proposals, marking the first coalition of Cardano entities as the network prepares for its next phase of growth.
Cardano has reached a new governance milestone with the fastest approved proposal by DReps in its history to date. The Critical Integrations Budget proposal of Cardano surpassed the 50% mark in less than two days since its submission, marking the fastest approved proposal by DReps in history.
Jaromir Tesar, responsible for implementing the reserve network and the SPO of Cardano, highlights this milestone in a recent tweet. On November 27, a new Budget Information Action was submitted for consideration by the community: the Critical Integrations Budget of Cardano proposes an allocation of 70 million ADA from the Treasury to fund a coordinated program of critical integrations for the ecosystem.
The measure represents a coalition of Input Output, EMURGO, the Cardano Foundation, Intersect, and the Midnight Foundation and marks the first joint proposal from Cardano entities.
Cardano is based on a decentralized governance system that gives voice to all ADA holders. The Chang hard fork, a two-part upgrade, introduced decentralized governance to the Cardano blockchain during the Voltaire era.$ADA
