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This proposal does not violate any of the binary criteria of the constitution, thus I consider it constitutional.

Tingvard

Tingvard judges this Treasury Withdrawal constitutional.

Cardano Japan Council

We consider this governance action to be constitutional.

KtorZ

Cardano Curia

This Treasury Withdrawal is constitutional under Articles III and IV of the Cardano Constitution. It defines a valid treasury purpose, establishes administrators, oversight, audits, and provisions for the return of unused funds. While its scale and necessary confidentiality reduce upfront transparency and increase governance risk, these factors do not constitute a constitutional violation.

Eastern Cardano Council

We have determined that this treasury withdrawal governance action is unconstitutional.

Ace Alliance

Ace Alliance finds the proposed “Withdraw ₳70,000,000 for Cardano Critical Integrations Budget” Treasury Withdrawal Governance Action Constitutional.

This treasury withdrawal is submitted pursuant to the Budget Info Action “Cardano Critical Integrations Budget” (gov_action13a2dqgwxum7d6kjfprcs57cf9733ek2dkt5qnuhqd4ll5ntcwu7sqluwkxd) and can only be ratified if that Budget Info Action is approved by DReps and the Constitutional Committee. This governance action  requests to withdraw ₳70,000,000 from the Cardano Treasury to establish a strategic integration fund supporting the onboarding of critical infrastructure, including tier-one stablecoins, institutional digital asset custody and wallet infrastructures, on-chain analytics platforms, cross-chain bridges, and pricing oracles to the Cardano ecosystem.

These integrations are foundational for tier-one stablecoin deployment, large scale DeFi growth, and acceleration of RWA and DePin activity, strengthening Cardano’s long term fee generation and treasury sustainability. This project is being driven through close collaboration between Input | Output Global, the Cardano Foundation, and EMURGO, together with Midnight Foundation and Intersect, all of whom are actively engaged in negotiations with integration partners. Representatives from all five organizations form the Steering Committee, which is responsible for all executive decisions over how these funds will be committed and spent. Multiple partners are already at an executable stage, but with sensitive commercial negotiations underway, vendor identities and line item costs remain confidential. Vendor identities can only be disclosed once integrations are completed.

Funds will be administered by Intersect under a performance and milestone-based structure over a period of up to 24 months. Drawdowns occur only after signed integration partnership agreements are submitted and verified. The Oversight Committee, a group of five independent entities within Intersect's budget administration framework, will review each drawdown or disbursal to confirm alignment between scope, amounts, and recipients. Deployment is expected to begin shortly after enactment of this withdrawal.

Withdraw ₳70,000,000 for Cardano Critical Integrations Budget

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