@qimingxing
Cardano's Voltaire era (fully activated in 2025 via CIP-1694 and Chang/Plomin hard forks) empowers ADA holders to directly influence network decisions, including protocol upgrades and treasury spending, through on-chain voting.
ADA holders vote via delegation to DReps (liquid democracy), with power proportional to staked ADA. This decentralizes control from developers, enabling community-driven governance.
Treasury allocation: Funded by 20% of transaction fees (plus reserves), the self-sustaining treasury (1.7B ADA or ~$1.1B in Q1 2025) is now managed transparently via smart contracts. Withdrawals require community votes (DReps, SPOs, Constitutional Committee approval), ensuring efficient, democratic funding for ecosystem development.
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