Cardano has achieved a significant milestone with the approval of its Constitution, marking a turning point for its governance and growth. During the Cardano Constitutional Conference held in Argentina and Kenya on December 5-6, developers, investors, and ADA stakeholders came together to shape the network’s future.
Cardano’s New Constitution: A Step Forward
An impressive 95% of delegates (60 out of 63) voted in favor of the Constitution. This foundational document will guide the blockchain’s governance, scaling, and technical advancements. Its provisions include sustainable growth strategies, robust decision-making frameworks, and enhanced Treasury management.
Cardano founder Charles Hoskinson described this approval as the culmination of years of work. He highlighted the Constitution’s role in making the network smarter, more resilient, and better equipped to scale.
“Voltaire is so incredibly important. What you did here makes us more capable… Those flags represent millions of people who could join our ecosystem,” said Hoskinson during the event.
Key Highlights of the Constitution
The Constitution aims to strengthen Cardano’s ecosystem by:
- Enabling sustainable growth and decentralization.
- Establishing Treasury policies for better asset management.
- Outlining the creation of legal entities to combat malicious actors.
The Constitution reflects Cardano’s broader vision under the Voltaire era, focusing on community-driven governance and decentralization.
On-Chain Endorsement Next Month
Although approved, the Constitution will move on-chain next month for further review and endorsement by decentralized representatives (DReps). Currently, there are about 800 DReps in Cardano’s ecosystem, with more than half actively contributing.
Cardano’s Rapid Growth
This milestone comes amid Cardano’s impressive growth:
- Transactions: Over 100 million total transactions have been recorded, with 2.65 million new transactions in November alone.
- Projects: Cardano now hosts 1,979 projects, adding 603 new initiatives last month.
- DeFi Surge: Total Value Locked (TVL) in Cardano’s DeFi ecosystem skyrocketed from $228 million in early November to $686 million.
- ADA Price Growth: Cardano’s native token, ADA, has surged 184% in the past 30 days, reaching $1.20—three times its previous value.
What’s Next for Cardano?
The Constitution’s approval sets the stage for even greater achievements. With its focus on decentralization, governance, and innovation, Cardano is poised to solidify its position as a leader in the blockchain space. Investors and developers alike are watching closely as this community-driven network continues to evolve.
