Cardano Constitution nears ratification through community referendum in January

Community referendum January 2025: The Cardano Constitution, aiming for ratification, involves a community referendum set for January 2025. This milestone highlights Cardano’s efforts towards decentralized governance. The draft was approved at the Cardano Constitutional Convention in Buenos Aires, attended by KEY stakeholders like developers and ADA stakers to strategize future directions.

Voting by about 800 delegated representatives: Delegated Representatives (DReps) within Cardano’s ecosystem, numbering about 800, are set to vote on the Constitution. With over half of them currently active and supporting governance with deposits of 500 ADA each, there is substantial involvement. ADA holders can delegate their votes to a chosen DRep before voting.

Defi growth boosting Cardano’s ecosystem: Cardano has recently achieved over 100 million successful transactions as the Total Value Locked (TVL) in its DeFi sector ROSE from 230 million USD to more than 705 million USD. Main platforms like Liqwid, Minswap, and Indigo contribute significantly, making up over 50% of the volume, enhancing Cardano’s ecosystem.