2025 Budget Process Timeline

Key dates:

Net Change Limit = To be raised as a governance action on 3 March 2025

The first budget = A budget could be raised from 31 March 2025

Process Timeline

Phase 1

1st January – 31st January 2025

Hard Fork:

• 29th January – HardFork Ratification

Budget:

• Budget proposal generated.

Phase 2

1st February – 10th April 2025

Constitution:

• New Constitution Action will be ratified & enacted

• Constitutional Committee engagement.

• 10th March - Dreps are required to vote on the Info Action

Budget:

• Presentation of consolidated budget proposal

• Community engagement sessions

• Live feedback and discussion

• Delegated Representatives review period

• Proposal refinement based on feedback

• Budget Info is released for DReps and ICC to review and vote on

• Committees will define the requirements for each budget line item

• DRep voting on treasury withdrawal limits

• Establishment of fiscal parameters

Procurement:

• March: The tendering process will open for suppliers to submit responses to RFPs; however, no contracts will be awarded until funds are released from the treasury. (Note: Suppliers submit responses at their own risk.)

Phase 3

11th April – 30th June 2025

Budget:

• Final proposal refinements

• On-chain submission preparation

• 15th April - 17th May: Community voting (requiring >51% DRep active stake approval)

• 23rd May - Final vote

• Implementation of approved allocations via treasury withdrawal

Phase 5

1st July Onwards ->

• Funds will be released, and contract awards will commence.