Cardano Foundation Gears Up For Chang Hard Fork, Governance Transition

Cardano Foundation Governance Reform:

• The Cardano Foundation has introduced a governance reform framework coinciding with the upcoming Chang hard fork to transition to a decentralized governance structure.
• The reform includes delegate representatives, stake pool operators, and an Interim Constitutional Committee to ensure inclusivity and balance of power.

Chang Hard Fork Update:

• The Chang hard fork is a significant update for Cardano, not only technically but also symbolizing a move towards decentralization in governance.
• During the bootstrapping phase between Chang #1 and Chang #2 upgrades, governance actions will be limited to maintain network stability.

Interim Constitutional Committee (ICC):

• The ICC, including the Cardano Foundation, will oversee protocol changes, hard fork initiations, interpret the Cardano Constitution, and ensure transparency during the transitional phase.

Elections and Transparency:

• Recent ICC elections involved voting by stakeholders, with emphasis on selecting candidates aligned with the new governance model's principles.
• Transparency was maintained throughout the process, allowing stakeholders to track voting and fund allocation.

Market Impact:

• ADA's market value experienced fluctuations, dropping over the past 24 hours and week.
• Despite this, trading volumes have increased, indicating heightened activity and trader interest.