Lloyd's answer: "The Committee's preference is a one-time withdrawal to simplify management, administration, and oversight, and to provide liquidity for the year. However, the option of multiple withdrawals is also being considered to provide more flexibility."

Does the Budget Committee have the right to use ADA for voting?

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Lawrence's answer: "Intersect does not plan to use ADA from the treasury for voting. Any requests from members would need to be discussed with the community and DRep representatives."

What is the plan to mitigate the risk of ADA price volatility?

Why does the projected budget match the treasury inflow for a year?

Who is responsible if funds held by CDF are stolen?

Lawrence's answer: "If there are remaining funds after the financial year, they will be carried over to the following year. Decisions regarding the leftover funds will be made by the community and DRep members."

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Who are the &quot;treasurers&quot; that monitor the Cardano Foundation&#039;s treasury?

Yes, some flexibility is built into the budget for new developments, especially if they align with Cardano’s strategic goals.

Lloyd's Answer: "Intersect aims to act as a facilitator rather than a gatekeeper. The budget committee consolidates budgets from all entities to present them to the DS, ensuring that the budget process is open and inclusive."

Audits are handled by external audit firms selected through a transparent RFP process to avoid conflicts of interest.

What will happen to any unspent funds by the end of the year?

Cardano Budget Process AMA Session #8

What are the key budget categories (buckets) for 2025?

Lawrence's answer: "If the budget is not approved, we will use the funds initially provided by IOG for CDF to continue essential activities in 2024, and we will continue discussions with DRep members to reach an agreement."

Lawrence's answer: "Currently, the Committee has no plans to make risky investments. However, there is a Treasury Working Group being formed to discuss managing assets in a more active manner."

Lawrence's Answer: "Treasury assets will be managed carefully, including the use of ADA in stake pools and converting a portion into stablecoins when needed for expenses without affecting ADA’s price."

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Lloyd's Answer: "There isn't a dedicated tools and infrastructure budget bucket for 2025, but relevant tools can be categorized under either Core Development or Community Grants, depending on the context."

Will the ADA withdrawn from the treasury be staked?

Lloyd's answer: "Members can participate through special interest groups, working groups, and open sessions to provide input and feedback on the budget."

Can the Budget Committee change the strategy?

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Will IO Global (IOG) announce their part of the budget publicly, and will it be split for core development and new projects?

How will the treasury assets be managed to avoid ADA price volatility?

Lloyd's Answer: "The Intersect board currently has rules that prevent voting with any ADA they possess. The decision lies with the Delegated Stakeholders (DS). The assumption is that the DS will ask Intersect not to vote with the ADA, allowing it to sit in auto-abstain."

Is Intersect trying to act as a gatekeeper by managing the entire budget process?

Lloyd's Answer: "Each committee will compile a range of expected expenses rather than exact numbers. For instance, they will budget for things like purchasing cars within a price range. Estimates are based on time and materials provided by vendors."

Are there detailed lists of planned expenses for various budget buckets?

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How will Intersect ensure that participation in governance is not limited to Intersect?

Cardano Budget Process AMA Session #6

Categories include core development, governance support, outreach/education, research, and community grants. Each has specific mandates to support Cardano's development and decentralization goals.

How are budget allocations managed?

How are tax and regulatory issues managed?

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Lawrence's answer: "A portion of the budget will be converted to stablecoins to ensure stability for spending. Additionally, financial tools may be considered to better manage this risk."

Is there a plan for transparency regarding entities receiving treasury funds?

Lawrence's answer: "Yes, there will be internal audits, audits by members, and external audits conducted by financial companies.".

Is there a provision for emerging opportunities within the budget?

Will there be a dedicated budget for tools and infrastructure?

What happens if the budget is not approved?

Will Intersect vote directly or indirectly through delegation with the budget money from the public Treasury?

Can exchanges influence the Committee&#039;s decisions?

The committee works with legal and tax experts to ensure compliance across jurisdictions, leveraging the Cayman Islands for minimal tax impact.

How will Intersect ensure multiple entities manage treasury funds to avoid risks?

Lloyd's Answer: "There will be a write-up explaining what the Cardano Development Foundation (CDF) is, which will be published on the Intersect website. The long-term plan is to distribute funds across multiple entities and jurisdictions to avoid a single point of failure."

Will the Budget Committee perform an external audit?

Lloyd's answer: "We will publish this information publicly and transparently on the Budget Committee’s knowledge base."

Is there a plan to allow for budget adjustments if projects go over budget?

Lloyd's Answer: "Contingency funds are built into the budget to allow for small overages. In case of a critical need, additional proposals can be made to access funds, ensuring essential projects do not suffer."

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Lloyd's Answer: "The projected budget is based on the annual inflow, but not all of it will be spent. This ensures that there is a clear understanding of available resources, with contingency plans in place for emergencies."

Lloyd's Answer: "Yes, milestones will be public, and quarterly updates will be conducted to ensure transparency. The Budget Committee will provide updates on work progress to the DS to ensure alignment."

Lloyd's Answer: "Intersect's role is to set a reasonable net change limit while ensuring that other MBOs also have opportunities to propose budgets and seek funding. The goal is for Intersect to facilitate collaboration without holding exclusive control over governance or budget processes."

Lloyd's Answer: "The goal is to have at least one more MBO participating in the budget process by 2026. Anyone interested in collaborating is encouraged to reach out, as the aim is to have wide participation rather than a single entity holding all the authority."

Why is Catalyst included in Intersect&#039;s budget?

How can members who are not part of the committees contribute to the budget process?

Cardano Budget Process AMA Session #4

Lloyd's Answer: "The plan involves distributing funds across multiple jurisdictions and custodial tools to minimize risk and avoid having a single point of failure. Multiple entities and custodial tools will be used to provide backups."

How to prevent overlapping budget allocation for projects?

Lawrence's answer: "CDF is using Zodia for custody, and there is insurance coverage. In case of any loss, insurance will be responsible for covering it."

Will milestones for funded projects be public?

Dubai Budget Presentation

Can the Budget Committee make risky investments?

Lloyd's Answer: "All projects will have defined milestones. Quarterly updates will be conducted, facilitated by the Budget Committee, to ensure transparency. Audits will be conducted by third parties to verify that work is on track."

Is there an approval matrix for the budget?

Lawrence's answer: "Currently, we are following a unified process to ensure an appropriate budget is approved. Entities can still submit separate proposals, but they need approval from DRep and the Constitutional Committee (CC)."

Will there be multiple MBOs participating in budget processes by 2026?

Lloyd's Answer: "No, Intersect is not looking to withdraw the entire net change limit. Instead, it aims to set a limit reasonable for the community, acting as a facilitator, with other MBOs also being encouraged to participate in the budget process."

Depending on the outcome of the discussions with DReps, ADA may be staked to support decentralization, using multiple community-selected stake pools.

Lloyd's Answer: "IO Global is still in the process of deciding what elements need to be developed. Several companies are participating in core development. The final budget request will include work from multiple entities beyond just IO Global."

Committees submit budget requests, which are reviewed, then funds are disbursed monthly. A designated budget committee oversees the financial audits, and funds are held in ADA but converted as needed.

Lawrence's answer: "The strategy will be developed by the Product Committee and approved by the community. This process needs participation from all stakeholders to develop a roadmap."

How is transparency maintained?

How are financial audits conducted?

Why not allow different entities to submit separate budget proposals instead of going through Intersect?

DRep Working Group - Budget Approval #2

Quarterly financial reviews are conducted with the Constitutional Committee (CC) and DReps to ensure alignment with community interests.

Lloyd's answer: "This is a concern currently being discussed within the community, but there is no clear mechanism to prevent this at present. It requires further study and discussion by related committees."

Lawrence's answer: "The Budget Committee will oversee the big picture and can reallocate budget from committees that underspend to those that need more. The final decision will still need to go through the related committees and community representatives."

Lawrence's answer: "Catalyst is part of Intersect’s budget because of the value of collaborating under a unified process to ensure funding for community projects."

Lloyd's Answer: "The treasurers are individuals working for the Cardano Foundation and IO Global (IOG) who hold the role of monitoring the treasury and ensuring that withdrawals are sustainable."

Will the net change limit be set for Intersect to be the entire limit?

How will milestones and auditing be handled for funded projects?

Regarding treasury withdrawal—one-time or multiple times?

Cardano Budget Process AMA Session #3

Are there specific budget allocations for 2025?

Lloyd's answer: "Not yet, but we are exploring it, and hope that automated processes will be developed to support budget allocation in the future."

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DRep Working Group - Budget Approval #3

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Cardano Budget Process AMA Session #2

Is there a plan to automate the budget allocation process?

How will transparency in budget management be ensured?

Transparency and Oversight

Additional Q&A

Budget Allocation and Focus

DRep Working Group - Budget Approval #1

Lloyd's Answer: "The projected budget is based on the annual inflow,Lloyd's Answer: The proposal process aims to bring together different off-chain collaborations that lead to a unified on-chain action. DS will have the right to vote for or against the entire budget, but participation in off-chain processes is crucial for shaping what is included in the final budget.but not all of it will be spent. This ensures that there is a clear understanding of available resources, with contingency plans in place for emergencies."

Cardano Budget Process AMA Session #7

Cardano Budget Process AMA Session #1

Treasury and Risk Mitigation

Lloyd's answer: "There are five main budget areas for 2025, which include core development, research, governance support, education and outreach, and community grants. Each of these areas has specific goals to support the development of Cardano."

How to manage treasury assets to avoid ADA price volatility?

Will DS have the ability to vote on individual projects within the budget rather than just the entire budget?

Cardano Budget Process AMA Session #5

Budget Process

Community Budget Participation

Lawrence's answer: "The assets will be managed carefully, including using ADA in stake pools and converting a portion into stablecoins when necessary to pay for expenses without affecting the ADA price."

How will the budget management process be carried out?

Lloyd's answer: "The goal is to ensure transparency, so all budget information will be posted online and there will be regular review sessions with community representatives to evaluate progress and spending decisions."

Lawrence's answer: "The Budget Committee is responsible for managing the budget, but the final decision lies with the other committees. The Budget Committee only supports the process, checks, and ensures that everything goes according to the plan."

Governance Committee

Tempo is a governance tool designed to streamline and enhance Cardano’s decision-making processes.

Interim Constitution Committee

Budget Committee