Civics Meeting Minutes January 18, 2024

Governance Guardrails Working Group updates

• The committee updated the wording of the treasury withdrawal guardrails. They now read:

  • DReps shall define a net change limit for the Cardano Treasury’s balance per period of time. The budget for the Cardano Treasury must not exceed the net change limit for the Cardano Treasury’s balance per period of time. Treasury withdrawals must not be ratified until there is a community-approved Cardano budget then in effect pursuant to a previous on-chain governance action agreed by the DReps with a threshold of greater than 50% of the active voting stake.

• The first complete version of the Interim constitution, the bulk of which is the guardrails, was discussed and comments requested from the Civics Committee by Jan 26th.

Informational update about the DRep Code of Conduct work

• The community process to define the DRep code of conduct was presented. 5 community workshops will continue to review the code of conduct, which is now drafted as a detailed text document, as well as a graphical version.

• A new key rotation scheme CIP is being drafted, which can be explored as a mechanism to enforce the DRep code of conduct.

• The committee seconded a motion to create a working group for a DRep code of conduct, with at least 4 members in support.

Committee governance

• The committee discussed wanting greater transparency with Intersect, needing to establish several committee governance processes