Cardano is undergoing a major governance upgrade with the Plomin hard fork, shifting control of network decisions to ADA holders.

Decentralized Voting Rights

Following the hard fork, ADA holders will gain voting power over:
Key Highlights:
  • Protocol upgrades
  • Treasury withdrawals
  • Governance proposals
  • Future blockchain developments

Approval Process

The Plomin hard fork was approved last Friday after passing three key thresholds:
  1. 85% of stake pools upgraded to a compatible node version.
  2. 51% of stake pool operators (SPOs) voted in favor of the upgrade.
  3. 67% of the Interim Constitutional Committee (ICC) confirmed its constitutionality.

Key Governance Changes

The upgrade introduces new governance features from the Cardano Improvement Proposal (CIP-1694), enabling:
Key Highlights:
  • Decentralized representative (DRep) voting
  • Stake pool operator participation in governance
  • Treasury-controlled withdrawals by ADA holders
Additionally, staking rewards can now only be withdrawn by accounts that delegate to a DRep, reinforcing decentralized governance.

Market Reaction

ADA is currently trading at $0.91, down over 5% in the past 24 hours amid overall bearish sentiment in the cryptocurrency market.
Read the full article on theblock.
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