Cardano reached a major milestone with the approval of its Constitution at a global convention held in Argentina and South Korea.enya on December 5 and 6.
The event brought together developers, investors, researchers, ADA stakeholders and delegates to shape the governance and future of the blockchain network.
At the Cardano Constitutional Conference, an overwhelming 95% of delegates – 60 out of 63 members – approved the Constitution. This founding document will guide the governance, scaling and technological advancements of the network. It includes provisions for sustainable growth, strong decision-making and effective cash management.
In his speech, Cardano founder Charles Hoskinson described the approval as the culmination of years of work. He expressed confidence that the Constitution would allow the community to drive the evolution of the network, emphasizing its importance in making Cardano more resilient and capable.
“Voltaire is incredibly important. That’s why what you’ve done here is so incredibly important (because) it makes us so much smarter and so much more capable. They weren’t just flags; these are representations of tens of millions and hundreds of millions of people – every person behind these flags could potentially be a person in our ecosystem, and everything that made them special could be ours,” Hoskinson said.
In particular, Hoskinson had previously highlighted the role of the Constitution in managing complexities such as Treasury policies. He explained how Cardano could hold assets like wrapped Bitcoin if it establishes itself as a Bitcoin-centric DeFi layer.
The Constitution also outlines the steps to create a legal entity to combat bad actors within the network. This initiative aligns with Cardano’s broader vision in the Voltaire era, which prioritizes decentralization and community governance.
However, the approved Constitution is expected to be posted online next month for review and approval by the Decentralized Representatives (DReps). According to CardanoScan Explorer, there are around 800 DReps in the ecosystem, of which more than 50% are active.
This achievement comes at a time of notable growth for Cardano. According to Input Output Global (IOG), the network recently surpassed 100 million total transactions after recording 2.65 million new transactions in November. Cardano-based projects also increased to 1,979, with 603 new initiatives added.
Additionally, Cardano’s DeFi ecosystem has seen significant momentum, with total value locked (TVL) increasing from $228 million in early November to $686 million. Meanwhile, ADA, Cardano’s native token, has surged 184% in the past 30 days. Currently trading at $1.20, ADA’s value has tripled from last month.
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