Cardano Moves Forward with New Governance Strategy
09.12.2024 11:00 1 min. read Kosta Gushterov
Cardano has reached a significant milestone with the approval of its Constitution during a global conference in Argentina and Kenya on December 5-6.
The decision, backed by 95% of delegates, marks a key step toward strengthening the network’s decentralized governance.
The Constitution sets out guidelines for Cardano’s growth, decision-making, and Treasury management. It also lays the groundwork for a legal framework to address bad actors and outlines plans to make Cardano a DeFi hub, potentially holding assets like wrapped Bitcoin.
Charles Hoskinson, Cardano’s founder, emphasized the importance of this development in achieving a more resilient and capable ecosystem.
The Constitution will be reviewed by Cardano’s decentralized representatives (DReps) next month. Meanwhile, Cardano’s ecosystem continues to grow, with total transactions surpassing 100 million and the DeFi sector seeing significant growth, with TVL rising from $228 million to $686 million in November. ADA, the network’s native token, has surged 184% in the past month, now trading at $1.20.
Cardano’s rapidly expanding ecosystem and strengthened governance structure set the stage for a promising future.
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