QU△Z△R

They are clearly misleading the community and appear to be using governance power in a way that benefits the potential interests of @emurgo_io and @YoroiWallet. I think Cardano governance is starting to resemble the collapsed governance we saw with $EOS. The screenshot I captured shows the issue clearly. When you click the Governance tab on the left, the interface immediately prompts the user to delegate to Yoroi. For an average user, the natural action is simply to delegate to Yoroi. This is, in my view, a clearly improper way of inducing delegation. Delegation is meant to be a conscious decision where a delegator entrusts their valuable voting power to representatives whose governance views and vision for the ecosystem align with their own. However, delegations formed through this kind of interface do not reflect that intent at all. Despite this, they continue to insist that there is nothing wrong with the current structure. In reality, the structure of blockchain systems is still unfamiliar to many users, and a large portion of users do not deeply understand Cardano governance. Yoroi is effectively leveraging this reality, nudging wallet users toward delegation regardless of whether that reflects their actual intention. Simply put, they are using the wallet infrastructure itself to steer delegations in a biased way. The more serious issue is that the voting power accumulated through this process is then exercised as if it genuinely represents the will of those delegators, allowing them to wield enormous governance influence. Through this mechanism, Yoroi has accumulated approximately 715M ADA in delegated voting power. When combined with 298M ADA from Emurgo, the total exceeds 1B ADA, representing more than 17% of the total governance influence. This is not just significant influence, it is a level of power that can fundamentally undermine the integrity of the governance structure. The fact that they continue to defend this structure despite widespread criticism from the community strongly suggests that preserving governance power serves the potential interests of their organization. From this perspective, I will be closely monitoring and thoroughly scrutinizing any governance activities or ecosystem initiatives that may benefit Emurgo and Yoroi. As a member of the community, I will continue to speak up about these issues. History has already shown us what happens when governance power is accumulated improperly. The case of EOS demonstrated how governance structures can collapse when organizations consolidate power to serve their own interests. What we are seeing from Emurgo and Yoroi today looks dangerously similar to that pattern being repeated within Cardano. If we allow this behavior to continue unchecked, Cardano governance will ultimately be used to serve the private interests of specific organizations, and the system itself will collapse, just as we saw with $EOS.

x.com/i/article/2032…

Cardano Governance, A Debate on NCL & Constitutional Clarity ——— Join us next week, March 18, 2026 at 15:30 UTC, for another Roundtable Talk. Recent discussions around extending the NCL have highlighted ambiguities in how the Cardano Constitution is interpreted and applied. Central to this is the question of whether NCLs must be ratified before treasury activity, how Constitutional Committee participation affects validity, and whether interpretations are mandatory or optional for compliance. Representatives from Constitutional Committees and influential DReps will share their perspectives in public so the wider Cardano ecosystem understands the stakes and the reasoning behind different views. Participants: @_KtorZ_, Individual (Matthias Benkort) @phil_uplc, Individual (Philip DiSarro) @yutazzz, Individual @blockjock2017, on behalf of @cardanocuria @NicolasC3rny, on behalf of @AceAlliance_CC @kenerik, on behalf of @tingvard @ElderM @phillewisit, on behalf of @EasternCardano @eternlwallet 🧵👇

Join us live on YouTube: youtube.com/watch?v=NgBxeO…

Cardano Governance, A Debate on NCL & Constitutional Clarity ——— Join us next week, March 18, 2026 at 15:30 UTC, for another Roundtable Talk. Recent discussions around extending the NCL have highlighted ambiguities in how the Cardano Constitution is interpreted and applied. Central to this is the question of whether NCLs must be ratified before treasury activity, how Constitutional Committee participation affects validity, and whether interpretations are mandatory or optional for compliance. Representatives from Constitutional Committees and influential DReps will share their perspectives in public so the wider Cardano ecosystem understands the stakes and the reasoning behind different views. Participants: @_KtorZ_, Individual (Matthias Benkort) @phil_uplc, Individual (Philip DiSarro) @yutazzz, Individual @blockjock2017, on behalf of @cardanocuria @NicolasC3rny, on behalf of @AceAlliance_CC @kenerik, on behalf of @tingvard @ElderM @phillewisit, on behalf of @EasternCardano @eternlwallet 🧵👇

I have been making the case for a while now that our governance needs some maturity in how it operates, so it is important to call out when there are signs that it is happening. @IntersectMBO has still not asked its members whether they want to implement strategic programs of work, instead continuing down the Catalyst style popularity contest of random vendor submissions 🤦 But where Intersect has failed to deliver, others are stepping up. This interview by Pete looks very promising. An experienced VC led investment fund for #Cardano based startups, with KPIs and milestone based releases. So we currently have the following strategic programs for ongoing consideration: * Draper Dragon - VC investment fund in Cardano startups. * Catalyst - still a great option as an innovation grant program, if it can course correct. * Pentad - While it is a bit light on the KPIs and transparency🤨 it could still deliver important value. * Stablecoin DeFi Liquidity - Useful but needs the right timing. * Builder DAO - An interesting idea that we will need to wait to see if it delivers. * IOG - Ongoing layer 1 evolution. * Pragma - Node diversity. There are still some gaps though that we need to explore how to fill strategically: * Adoption - the Cardano in Oceania (cardanooceania.org) proposal was a good example (imo 😉) of how this could be approached strategically. * Open Source - Getting more Linux Foundation-like is important for ensuring important code bases (tooling, governance, etc.) is maintained. @DeOpenSourceGuy’s idea for this is on the right track. There are 9 dot points above. Responsible and mature treasury governance needs to consider these kinds of numbers (10-12) for withdrawals per year, not the 50+ we have seen so far. DReps, if you don’t have experience in how to manage and/or evaluate multi million dollar projects, then please have some humility and abstain from voting on these kinds of decisions. This isn’t a game, where social media popularity is how we decide who makes important decisions. We need to get serious and fast 🙏